A former adviser to King Charles has described how his divorce from Diana led to him saving up a massive fortune, almost twice that of his mother, the late Queen.
Charles’ wallet took a hit during his split from Diana, Princess of Wales, in the mid-1990s with the divorce settlement coming in at a whopping £17 million.
One of Charles’ former aides has now revealed how the King carefully rebuilt his finances following the divorce, resulting in a personal fortune of £600 million today.
The King became money-conscious after the “wipeout” of his finances in the divorce settlement, the aide said, adding Charles had been “tucking away” funds to replace money lost in the arrangement.
The former adviser to Charles during the period following the divorce said: “He became prudent at tucking away some money from the Duchy after that wipeout [of capital].
“We're not talking vast sums here - several tens of millions, no more.
“There have been suggestions that Camilla brought a good deal of money into their relationship - but that's really not correct," the source told the Times.
The Duchy of Cornwall is a private estate worth £1 billion made up of property and investments including 130,000 acres, 260 farms, the London’s Oval cricket ground, and the land on which Dartmoor Prison stands.
According to the Times Rich List, Charles’ frugal living and savvy investments growing the Duchy has enabled him to save up a fortune of £600 million, almost twice that of the late Queen, calculated at £370 million in last year’s list.
Between 2012 and 2022 Charles received £212.7 million from the duchy, which also rents commercial property, and sells produce through the Duchy Originals brand.
There are two such duchies; the Duchy of Cornwall, traditionally administered by the heir to the throne, and the £652.8 million Duchy of Lancaster which is overseen by the reigning monarch.
Royals are allowed to reap the profits of these estates, both of which date back to the 14th century, as their personal wealth and they are not required to pay any income tax, although Charles opted to last year.
The Crown Estate is worth a massive £15.6 billion with the annual profits going to the UK Government, which then pays 25% back to Charles to fund the Royal household’s expenses, this is known as the sovereign grant.
Upon becoming monarch Charles inherited the Duchy of Lancaster from his mother, while the Duchy of Cornwall passed to Prince William as the new Prince of Wales.
