Looks like somebody got an “exceeds expectations” on their performance review
It’s been a tough few months for the royal family, but it’s also been a banner year in terms of finances. The royals are raking in the dough according to the Crown Estate‘s annual financial report. The BBC reports that the family had a staggering profit of £1.1 billion (approximately $1.42 billion) this year.
The family’s six offshore wind farms are reportedly cash grabs and the reason behind the massive pay raise. The boost will primarily benefit the Sovereign Grant, which was valued at £86.3 million (approximately $111.5 million) for the 2024/2025 year and predicted to increase to £132m ($170.6 million) in 2025/2026, per the BBC.
The Sovereign Grant funds different royal events, such as garden parties and other engagements, and while the grant itself is paid by U.K. residents’ tax dollars, the royals only get as much as the Crown Estate pulls in. The outlet adds that in 2023, the royals’ income from the Crown Estate was changed from 25% of profits to 12% due to the astronomical amount of money that the wind farms produce. Charles, however, isn’t looking to keep all of the earnings just for himself. The king is actually hoping to use the money for the “wider public good,” per the BBC.
Not that the king is strapped for cash. He is worth $770 million, according to The Sunday Times, and his son, Prince William, isn’t doing half bad, either. It was also revealed that the heir received $30 million for his first year as the Duke of Cornwall. Of course, as working royals, the family members don’t have a typical salary. William, for example, receives money from Cornwall, which was established back in 1337 by King Edward III to pay the heir, which it has evidently done tenfold.
Cre: InStyle Magazine
