How does the royal family, King Charles earn their money?
Sierra Campbell
(NewsNation) — The royal family is one of the wealthiest in the world, with many fascinated by their net worth and where their wealth comes from.
Here’s how much money the royal family has (and how they make it):
Yearly salary of the royal family
The royal family’s salary increased in 2025 with money from the U.K. Treasury, which was taxpayer-funded. In April, the Sovereign Grant fund was reportedly increased by over $58 million, which brought the family’s income to nearly $172 million.
The Sovereign Grant is mainly used for the required day-to-day expenses of the royal family, like staff salaries, maintaining their properties and travel expenses. The palace claims that much of the money from the fund will be put towards Buckingham Palace renovations, which should be completed in 2027.
How does King Charles, the rest of the royal family make money?
Most of the money the royal family has comes from inheritance, the Duchy of Lancaster and the Duchy of Cornwall. A “duchy” is a country, domain, estate or territory that is ruled by a duke or a duchess. In the case of the Duchy of Lancaster and the Duchy of Cornwall, much of their contents are estates of land, or fiefs.
The Duchy of Lancaster is solely for King Charles and is made up of over 45,000 acres of land and commercial real estate. It is valued at around $840 million.
The Duchy of Cornwall is managed by the heir, Prince William. The fund (worth about $1.3 billion) is reinvested into surrounding communities.
Before stepping back as working royals, Prince Harry and Meghan Markle had reportedly received 95% of their income from the Duchy of Cornwall, with the other 5% coming from the Sovereign Grant. Both the Duchy of Lancaster and the Duchy of Cornwall are exempt from paying capital gains tax.
King Charles’ net worth
As reported by The Sunday Times, King Charles’ net worth is expected to be a little over $860 million. This is almost double that of Queen Elizabeth, who had a net worth of around $442 million.
King Charles III, wearing his Welsh Guards uniform, takes the salute outside Buckingham Palace after attending Trooping the Colour on June 17, 2023 in London, England. Trooping the Colour is a traditional military parade held at Horse Guards Parade to mark the British Sovereign’s official birthday. It will be the first Trooping the Colour held for King Charles III since he ascended to the throne. (Photo by Max Mumby/Indigo/Getty Images)
King Charles III hosts a reception at Buckingham Palace, London, with representatives from his military affiliations to thank them for their service, Tuesday, Feb. 11, 2025. (Jonathan Brady/Pool photo via AP)
King Charles and Queen Camilla arrive at the Ottawa International Airport in Ottawa, Canada, for a royal visit on Monday, May 26, 2025. (Sean Kilpatrick/The Canadian Press via AP)
Britain’s King Charles III and Queen Camilla in Rome on April 9, 2025. (Vincenzo Livieri, Pool Photo via AP)
Britain’s Catherine, Princess of Wales attends a State Banquet at Buckingham Palace in London on November 22, 2022, at the start of the President’s of South Africa’s two-day state visit. King Charles III hosted his first state visit as monarch on Tuesday, welcoming South Africa’s President to Buckingham Palace. (Photo by Chris Jackson / POOL / AFP) (Photo by CHRIS JACKSON/POOL/AFP via Getty Images)
Queen Camilla, King Charles III, Prince William, Prince of Wales and Catherine, Princess of Wales pose for a photograph ahead of The Diplomatic Reception in the 1844 Room at Buckingham Palace on December 05, 2023 in London, England. (Photo by Chris Jackson/Getty Images For Buckingham Palace)
Britain’s Princess Anne attends the Not Forgotten Association Annual Garden Party at Buckingham Palace in London, Friday May 17, 2024. Buckingham Palace says Princess Anne has sustained minor injuries and concussion following an incident on the Gatcombe Park estate on Sunday, June 23, 2024. The 73-year-old sister of King Charles III has been hospitalized as a precautionary measure for observation and is expected to make a full recovery. (Victoria Jones/Pool Photo via AP, File)
Britain’s Prince William and Britain’s Prince Harry walk beside each other after viewing the floral tributes for the late Queen Elizabeth II outside Windsor Castle, in Windsor, England on Sept. 10, 2022. Prince Harry flew more than 5,000 miles to see his father after King Charles III was diagnosed with cancer. But he did not see his estranged brother, William, during a visit that lasted scarcely 24 hours. William, meanwhile, returned to public duties for the first time since his wife, Kate, was admitted to a London hospital Jan. 16 for abdominal surgery. (AP Photo/Martin Meissner, File)
Britain’s King Charles III and Prince William attend the Remembrance Sunday service at the Cenotaph on Whitehall in London, Sunday, Nov. 12, 2023. King Charles III has been diagnosed with a form of cancer and has begun treatment, Buckingham Palace said Monday Feb. 5, 2024. Less than 18 months into his reign, the 75-year-old monarch will suspend public duties but will continue with state business, and won’t be handing over his constitutional roles as head of state. (AP Photo/Kin Cheung, Pool, File)
Britain’s Prince William, the Prince of Wales, holds a can of Organic Coronation Ale, with Kate the Princess of Wales, during a walkabout meeting members of the public on the Long Walk near Windsor Castle where the Coronation Concert to celebrate the coronation of King Charles III and Queen Camilla is being held, in Windsor, England, Sunday May 7, 2023. (Andrew Matthews/Pool Photo via AP)
Britain’s King Charles III and Queen Camilla wave to the crowds from the balcony of Buckingham Palace after the coronation ceremony in London, Saturday, May 6, 2023. (AP Photo/Frank Augstein)
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A lot of his worth comes from the 53 years he spent as the manager of the Duchy of Cornwall. According to The Guardian, its income totaled nearly $790 million from 1952 to 2022. Before King Charles became the monarch, he reportedly received a salary of $16.5 million during the 2022 to 2023 fiscal year.
Now, most of his money comes from the Duchy of Lancaster. In 1996, he reportedly had to give a huge chunk of money ($22.5 million to be exact) to Princess Diana following their divorce.
Prince William’s salary
The 2024 Integrated Annual Report for the Duchy of Cornwall showed that William’s private income was around $30 million. After Queen Elizabeth died, the Prince of Wales became the manager of the Duchy of Cornwall since he is now heir to the throne.
WINDSOR, UNITED KINGDOM – APRIL 10: A general view of the exterior of Frogmore Cottage as people lay floral tributes to Prince Philip, Duke Of Edinburgh who died at age 99, nearby on April 10, 2021 in Windsor, United Kingdom. (Photo by Leon Neal/Getty Images)
FILE – General view of Buckingham Palace and Queen Victoria Memorial on the day that marks the 70th anniversary of Britain’s Queen Elizabeth’s accession to the throne, in London, Sunday, Feb. 6, 2022. (AP Photo/Alberto Pezzali, File)
Police guard the Henry VIII gate at Windsor Castle at Windsor, England on Christmas Day, Saturday, Dec. 25, 2021. Britain’s Queen Elizabeth II has stayed at Windsor Castle instead of spending Christmas at her Sandringham estate due to the ongoing COVID-19 pandemic. (AP Photo/Alastair Grant)
People walk their dogs on the Long Walk at Windsor, England, on Christmas Day, Saturday, Dec. 25, 2021. Britain’s Queen Elizabeth II has stayed at Windsor Castle instead of spending Christmas at her Sandringham estate due to the ongoing COVID-19 pandemic. (AP Photo/Alastair Grant)
A member of the Coldstream Guards on duty in Friary Court outside of St James’s Palace in London, Saturday, Sept. 10, 2022, before the Accession Council ceremony, where King Charles III is formally proclaimed monarch. Charles automatically became King on the death of his mother, but the Accession Council, attended by Privy Councillors, confirms his role. (Daniel Leal/pool photo via AP)
FILE – A dog walker passes Kensington Palace in London, Friday, Jan. 6, 2023. The first official photo of Kate, the Princess of Wales, since she underwent abdominal surgery nearly two months earlier, was pulled from circulation by The Associated Press and several other news organizations, Sunday, March 10, 2024, because the image appeared to have been manipulated. (AP Photo/Kirsty Wigglesworth, File)
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The duchy has over 128,000 acres of land across the southern part of England, including protected woodland, coastlines and commercial property assets and farms. The Duchy of Cornwall gives William access to its revenue, which is used to fund charitable, public and private events for him and his immediate family.
How much is the royal family worth?
Forbes reported in 2021 that the overall net worth of the family is over $28 billion. A lot of this wealth is in the family’s properties, with $20 billion being managed by the Crown Estate, which is the statutory corporation for the family.
According to the Crown Estate’s website, it generated over $1.4 billion for “public finances” in 2024. Dan Labbad, CEO, said that same year, “Today’s record results are the product of years of commitment and investment into helping create the U.K.’s world-leading offshore wind sector, as well as the active management of our diverse and resilient portfolio.”
“Our track record and remit are also enabling us to invest and lay the foundations for future value creation that will benefit the country and its finances,” he finished.
The Crown Jewels
The royal family also has many heirlooms, which are known as the Crown Jewels. The collection dates back to the Restoration of the Monarchy in 1660. It includes:
Imperial State Crown (worn by Queen Elizabeth during her 1953 Coronation)
Cartier Halo tiara (worn by Kate Middleton on her wedding)
Princess Diana’s sapphire and diamond engagement ring
Part of the Crown Jewels of the United Kingdom, UK, circa 1960. Possibly St Edward’s Crown. (Photo by Archive Photos/Getty Images)
The Princess of Wales, Princess Diana, visits Didsbury and Wigan in the North West of England. Picture shows a close up of Diana’s engagement ring. On the visit The Princess also opened Francis House Children’s Hospice. Picture taken 25th November 1991 . (Photo by Andrew Stenning/Mirrorpix/Getty Images)
‘Coronation rings’, 1953. Queen Adelaide’s Coronation Rings (1831) are part of the Royal Collection at the Tower of London. From The Crown Jewels, by Martin Holmes FSA. [Her Majesty’s Stationery Office, London, 1953]Artist Rundell, Bridge and Rundell. (Photo by The Print Collector/Getty Images)
‘Chalices and patens’, 1953. The pieces (17th century) are part of the Royal Collection at the Tower of London. From The Crown Jewels, by Martin Holmes FSA. [Her Majesty’s Stationery Office, London, 1953]Artist Unknown. (Photo by The Print Collector/Getty Images)
A woman at work on a ceremonial sword, with crowns on the table before her, replicas of the Crown Jewels, merchandise being prepared for the coronation of King Edward VIII, at the premises of Messrs White in London, England, 10th August 1936. The date for the coronation was 12th May 1937 but was abandoned due to the King’s abdication on 11th December 1936. (Photo by William Vanderson/Fox Photos/Hulton Archive/Getty Images)
LONDON, ENGLAND – JULY 17: King Charles III wears the Imperial State Crown and Queen Camilla wears the Diamond Diadem during a ceremony on the day of the State Opening of Parliament at the Palace of Westminster, on July 17, 2024 in London, England. King Charles III delivers the King’s Speech setting out the new Labour government’s policies and proposed legislation for the coming parliamentary session. (Photo by Hannah McKay – WPA Pool/Getty Images)
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The Crown Jewels also include the Koh-i-Noor diamond, which was received in 1849 by the East India Trading Company. It has long been a debate on whether it was given to or stolen for Queen Victoria. It weighs 105.6 carats.
Most of Prince Harry and William’s net worth comes from the nearly $10 million lump sum payments they each received after their mother, Princess Diana, died. Forbes claimed that they both started receiving annual dividends of around $470,000 once they turned 25 years old.
