King Charles III's property empire rakes in $34 million from rising rents

King Charles III, Britain's most famous landlord, has made a whopping $34.3 million from his vast property empire, the Duchy of Lancaster. This amount is 9% over last year's rent collected by the monarchy.

King Charles III, Britain's most famous landlord, has made a whopping $34.3 million from his vast property empire, the Duchy of Lancaster. This amount is 9% over last year's rent collected by the monarchy.

King Charles inherited this vast estate after the passing of his mother, Queen Elizabeth II. Spanning 45,000 acres, the Duchy generates significant rental income and is exempt from corporation taxes.

Under King Charles's reign, the Duchy has seen increased profits, partly driven by rising rents and improved earnings from commercial properties. This year, Charles received £26.2 million in private income from the Duchy, surpassing the earnings of his mother. These funds are separate from the taxpayer-funded Sovereign Grant, which covers official royal expenses.

The Duchy raised rents by 3% in the last fiscal year, contributing an additional £8.2 million to the royal coffers. This increase has sparked debate amid the record-breaking rise in private rents across the UK, causing a cost-of-living crisis for many residents. However, it's important to note that King Charles's financial situation differs significantly from that of the average landlord.