Prince Charles Net Worth: How Much Does Prince Charles Make a Year?
Prince Charles is a member of the royal family of Great Britain. He is the eldest son of Queen Elizabeth II and the late Duke of Edinburgh, Prince Philip. Prince Charles is worth 100 million dollars.
In 1948, Prince Charles was born at Buckingham Palace. Archbishop of Canterbury Geoffrey Fisher baptized him with water from the Jordan River. Included among his Godparents were grandparents, aunts, and cousins.
When his mother became queen at age three, Charles became the heir apparent. He was given the title of Duke of Cornwall at that time. After three years of being instructed by Catherine Peebles, he attended the Hill House School in West London. Afterward, he attended Cheam Preparatory School in Berkshire, England.
His father, Prince Philip, attended this institution while he was young. He then traveled to Gordonstoun, which he despised. He complained that wearing kilts was simply too cold. Similarly to his father, he attended Geelong Grammar School in Geelong, Australia for two terms and was named Head Boy. He graduated in 1967 with an A level in both History and French.
Then, he proceeded directly from high school to Trinity College Cambridge, where he studied history, anthropology, and archaeology. In 1970, he graduated with a 2.2 Bachelor of Arts. He also earned a Master of Arts from Cambridge University and studied Welsh at Aberystwyth University in Wales.
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His Royal Highness The Prince of Wales
Prince Charles was named Prince of Wales and Earl of Chester in 1969. He established the Prince’s Trust and moved to the United States in 1976. Prince Charles is the eldest Prince of Wales, as well as the eldest and longest-serving heir apparent. If he ascends the throne in 2013, he will also be the oldest monarch in British history. Charles was offered the throne of Romania, but he declined.
Armed Forces Service
Charles served in the Royal Navy and Air Force and trained as a jet pilot at the Royal Air Force College in Cranwell. Six weeks later, he attended the Royal Naval College Dartmouth for training. He subsequently served on the HMS Norfolk, HMS Minerva, and HMS Jupiter. He also joined the 845 Naval Air Squadron, commanded the HMS Bloomington, and operated an HMS Hermes. He is qualified to fly the Chipmunk Basic Pilot Trainer, the Harrier T MK.4 V/STOL fighter jet, and several more aircraft.
Prince Charles not only had a very active military career, but also very active love life. He was quite the gentleman with women. The first Earl Mountbatten of Burma encouraged him to have as many affairs as possible before marrying, but when it came to picking a wife, he was to ensure that she was sweet, naive, and suitable.
While visiting her sister Sarah, he met Lady Diana Francis Spencer at her home. After spending some time together, Charles began to contemplate proposing to Lady Diana. Charles did propose despite a few reservations, and they were married in 1981. They were the parents of Prince William and Prince Harry. Although some believe that Prince Harry is James Hewitt’s son, he has said that his romance with Lady Diana occurred after the birth of Henry.
Lady Diana and Prince Charles’s marriage ended in 1996. His second marriage was to Camilla Parker-Bowles, with whom he was rumored to have had an affair while still married to Lady Diana. Charles was the first member of the Royal Family to choose a civil ceremony over a religious ceremony.
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Trust for the Duchy of Cornwall
According to British royal law, the Duchy of Cornwall is inherited by the eldest child of the reigning king. This title is essentially a big portfolio of real estate that provides the Prince with a hefty income. Edward III founded the Duchy in 1337 to provide an income for the heir presumptive.
If Charles ever becomes King, his son Prince William will immediately become Prince of Wales and the beneficiary of the Cornwall Trust. When William becomes King, the trust will pass to his son George. And so forth.
The U.K. government considers the trust to be a “royal body,” which exempts its income from taxation. Multiple challenges to the tax-exempt status have prompted Prince Charles to voluntarily pay taxes on the income since 1993. For about a decade, he voluntarily paid a 50 percent tax rate on his income. In 1991, when he got married, he began to pay 25 percent. Since 1993, he has consistently paid the ordinary UK income tax rate.
The duchy owns 133,000 acres of territory across 23 counties in the United Kingdom. The land is utilized for agriculture, residential housing, and commercial property. As of 2019, the land is expected to be worth $1.1 billion.
In an average year, the trust generates little more than $20 million in income. In several years, the income exceeded $30 million. Charles provides a wage for his wife and children with the earnings.
When His Mother Became Queen, How Old Was Prince Charles?
On June 2, 1953, when Prince Charles was four years old, his mother’s coronation took place in Westminster Abbey. During King George VI’s coronation, many people recall him sitting between his grandmother, now known as Queen Elizabeth The Queen Mother, and his aunt, Princess Margaret.
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How Much Does Prince Charles Make a Year?
Prince Charles earns approximately $3.5 million per year from the Sovereign Grant, which is a percentage of the profits from the Crown Estate.
Can Prince Charles Still Ascend to the Throne?
If Queen Elizabeth dies, Prince Charles becomes king immediately. The Queen will likely remain on the throne until her death. Prince Charles will succeed Queen Elizabeth as monarch following her demise.