The passing of Queen Elizabeth last week started a chain reaction of events that are changing several lives.  For the better in most cases. 

The Queen’s oldest son Charles is forever going forward and will be known as “King Charles.”

And Prince William is going to be called one of Britain’s biggest landowners, thanks to his inheritance of the Duchy of Cornwall, a portfolio of privately owned land assets that now has his name on it. 

According to a report in The Guardian, that real estate has a value of more than $1 billion.  Yes, a billion with a b!

The property stretches over 28,000 acres in England and Wales. With it is homes, commercial properties, rivers, a coastline, and a forest, in case he needs to escape the pressures of monarchy and clear his head. 

There’s a prison in the portfolio, along with mineral rights and an Oval cricket ground, which is a modern cricket stadium. 

William’s father (King George) has owned it since he turned 21, and its revenue has generated millions for him, including over $24 million last year alone. 

Another perk of Royal life is there’s no tax bill on it. King Charles voluntarily paid taxes on his income from it, but there was no law saying he had to. 

The one catch is that even though William is the rightful owner of the portfolio, he is not allowed to profit from the sale of any assets.  That rule has existed since 1337 when the Duchy of Cornwall was established. 

William can receive annual income on the assets just as his father did. 

Add comment