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| Name | Inside King Charles III’s $25 Billion Real Estate Empire | Forbes |
| Video Uploader | Video From Forbes |
| Upload Date | This Video Uploaded At 31-10-2022 17:59:56 |
| Video Discription | Charles III's official coronation may not occur until May 6, but the new British monarch has already inherited a $25 billion real estate portfolio fit for a king. When he acceded the throne in September, the 73-year-old sovereign assumed control of a $42 billion empire, much of it in real estate. Forbes scoured property records, annual reports, audits, archives and legislative documents to find all of the king’s new possessions. His holdings span from Buckingham Palace—the official headquarters of the monarchy, which Forbes estimates is worth $4.9 billion—to Highgrove House, a country residence in Gloucestershire that Charles first purchased in 1980 for £865,000 ($3.7 million today,) now valued at $39 million. Although he has only had the crown for a few weeks, Charles is expected to break with seven generations of tradition and reject Buckingham Palace as his London residence to remain in his current home at Clarence House (estimated value: $72 million.) But he will also reportedly continue to spend some time at Highgrove. That means he’ll have to pay about $740,000 in annual rent to his son William, who succeeded him as Prince of Wales and Duke of Cornwall and now holds Highgrove under the Duchy of Cornwall. Those properties are part of a vast collection of at least seven palaces, 10 castles, 12 homes, 56 holiday cottages and 14 ancient ruins, per Forbes’ count. Aside from Balmoral Castle in Scotland and Sandringham House in Norfolk, which he inherited from the Queen and now personally owns, none of these opulent residences and historic monuments are directly owned by the King. Most are held by the Crown Estate, the Duchy of Lancaster and the Duchy of Cornwall, institutions held “in right of the Crown” for the duration of his reign. Others are controlled by the monarchy itself “in trust” for his successors and the nation, while another four properties are held by two foundations which the King established when he was Prince of Wales. Read the full story on Forbes: https://www.forbes.com/sites/giacomotognini/2022/10/21/inside-king-charles-iiis-25-billion-real-estate-empire/?sh=29aaf3ac41ec Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1 Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes: http://forbes.com Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success. kPR2078bPOo |
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