Media outlet reports UK King ‘making millions’ from secret property empire
Date
11/5/2024 7:01:44 AM
(MENAFN) A detailed investigation by *The Sunday Times*, in collaboration with Channel 4’s *Dispatches*, has revealed that British King Charles III and his son, Prince William, are earning millions of pounds annually from a vast, secretive property empire funded by UK taxpayers. This income comes in addition to the financial support they receive from the government’s sovereign grant.
In 2023 alone, the Duchy of Lancaster, which belongs to King Charles, and the Duchy of Cornwall, owned by Prince William, generated a combined £51 million (around $65 million). The investigation uncovered how these royal holdings, often referred to as the "private fiefdoms" of the British monarchy, profit from a wide range of commercial enterprises, including leasing land, collecting tolls, and renting properties to public services, charities, government departments, and even a prison. These ventures, which the royal family reportedly profit from, include everything from toll bridges and ferries to sewage pipes, car parks, and even burial plots.
The *Duchy Files*, as the investigation has been dubbed, shines a light on the lucrative and often opaque business dealings tied to the monarchy. The research revealed that Charles and William charge fees for activities ranging from the right to cross rivers, to unloading cargo on their shores, to running schools and even managing charitable organizations. Additionally, they earn money from activities such as operating distilleries, renting out homes, managing wind turbines, and controlling boat moorings.
With over 5,400 landholdings and properties spread across the UK, the royal duchies exert considerable influence over various sectors, ranging from public infrastructure to private business. This immense wealth is generated largely from land that was originally acquired by medieval monarchs and has been passed down through the royal family for centuries.
The investigation raises important questions about the transparency and ethics of these business dealings, especially considering the significant public funds that support the monarchy. Critics argue that the royals should be more transparent about the scale of their private wealth, which comes with the responsibility of serving the public.
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