King Charles’ salary set to skyrocket with Crown Estate’s $1.4bn boost

King Charles is expected to receive a 45 million pounds ($58 million) salary increase as a result of a more than twofold increase in revenues from the Crown Estate, the sovereign’s public estate.

The Crown Estate’s profits have increased by 148%, reaching 1.1 billion pounds ($1.4 billion). The sale of options and lease agreements for offshore wind projects in the seabed encompassing the British Isles is the primary factor contributing to this substantial increase.

Sovereign grant to rise by 50%

The sovereign grant, which taxpayers fund to support the royal family’s official duties, will rise by more than 50% as a result of this increase in profits. The grant is expected to reach 132 million pounds in the upcoming year.

Government receives revenue

The British monarch is the owner of the Crown Estate, a national portfolio that comprises historical and commercial property assets. However, it is managed independently. The government receives its revenues. Currently, in exchange, the monarchy receives 12% of the Crown Estate’s revenues.

The British Royal Family is one of the wealthiest in the world. Forbes estimates the Royal Family’s net worth at 21.3 billion pounds and the Crown Estate’s land holdings at 15.6 billion pounds.