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40-yr-old Slice of Cake Sold for Rs 1,60,000: Proof That King Charles' Worth is Beyond Inherited Wealth

By: News Desk

News18.com

Last Updated: September 10, 2022, 14:16 IST

London

In this October 14, 2019 file photo, Britain's Queen Elizabeth II, with Prince Charles, delivers the Queen's Speech at the official State Opening of Parliament in London. (Victoria Jones/Pool via AP)

In this October 14, 2019 file photo, Britain's Queen Elizabeth II, with Prince Charles, delivers the Queen's Speech at the official State Opening of Parliament in London. (Victoria Jones/Pool via AP)

Charles and Camilla's official visit to Germany in November 2020 cost £42,486, as per news reports

Charles III will be formally proclaimed King of the United Kingdom at a historic ceremony at St James’s Palace on Saturday. The proclamation is a public announcement of the accession of the new monarch.

Charles,73, Queen Elizabeth II’s eldest son, automatically became King after his mother’s death. King Charles on Friday pledged to follow his “darling mama’s” life of service in an emotional first address. The King promised to serve the nation with the same “unswerving devotion” as the late Queen had during her 70-year reign.

Being descendants of the throne that has bourn enormous colonial power, the Britain royals’ have amassed excessive wealth and often put it on display. From selling artworks to going on international trips, the royals held no bars in flaunting their lifestyle at times.

King Charles’ Highgrove House & Garden

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Until the Queen’s demise a couple of days ago, Charles and Camilla spent most of their their time in two of them - Clarence House and Highgrove House.

Highgrove House, the Georgian neo-classical house dates back to the 1780s, is located near Tetbury in Gloucestershire.

“The house had been the home of Maurice Macmillan, Conservative MP for Farnham and son of the former Prime Minister Harold Macmillan, for 14 years,” The Prince of Wales website says.

The word in the UK is that Charles’ affinity towards the Highgrove house is much more than on the Buckingham Palace. Even before Charles and Diana were engaged, the former asked the latter to decorate it.

“During that first weekend Prince Charles showed Diana around Highgrove, the 353-acre Gloucestershire home he had bought in July—the same month he had started to woo her,” writes Andrew Morton in his biography of Diana, former Princess of Wales.

“The garden at Highgrove really does spring from my heart and, strange as it may seem to some, creating it has been rather like a form of worship,” Charles said in 1993.

The Highgrove gardens, something of a pet project for Charles, is a sprawling 15-acre plot of lush greenery and flora. It has been open to public since 1996 and sees around 40,000 visitors annually.

All the cut flowers used in Highgrove House are grown in the Gardens at Highgrove. In the summer, buttonhole flowers (primarily scented pinks) are cut for HRH’s use through the week for his engagements, as per the Prince of Wales website.

As Charles is taking up the throne as the King, the Highgrove House will now belong to Prince William and Princess Kate Middleton. Since Charles is likely to keep the house, he will have to pay a rent to his son.

“Charles is expected to keep his beloved Highgrove as his family home. It is owned by the Duchy of Cornwall, which William will inherit when Charles becomes King. Then William will be his father’s landlord, taking £700,000 a year rent,” The Daily Mail reported.

Expensive Trinkets at Highgrove House Shop

Tourists not only flock to see the stunning gardens but also shop, or probably window shop, at the shop on Charles’s estate, which offers a range of royal-affiliated products – from food and drink to bath products, jewellery, clothing and art.

Artwork by Charles, costing US$ 3,450, Ettinger bags worth US$810, silver bracelets that are priced around US$610 and more.

King Charles Trip to Kuwait, Costliest among Royals in 2020

In October 2020, Prince Charles took a charter flight to Kuwait to pay his condolences following the death of the country’s Emir, Sheikh Sabah al-Ahmad al-Sabah, at a cost of £58,993.

Charles and Camilla’s official visit to Germany in November cost £42,486, according to the Hello Magazine.

King Charles’ Net Worth

Charles earns an annual income from the Sovereign Grant, but most of his money streams in from The Duchy of Cornwall, an inherited portfolio of almost 54,000 hectares of land across the UK that is used for farming, residential housing and commercial real estate, per Celebrity Net Worth – which is valued at over US$1 billion. The Duchy of Cornwall, however, will go to Prince William now.

The King, as of August 2022, had amassed a whopping $100 million. It could exponentially go up in the coming months with his new inheritance and responsibilities. Queen Elizabeth purportedly was worth £370 million.

King Charles will profit from the Crown Estate valued at around $25 billion dollars. The estate produces a profit of $20 million dollars in profit every year. He will pay for his family’s expenses through the Crown Estate’s Sovereign Grant, which allows him to use 25% of the income produced by the Crown Estate. The new monarch will also receive $30 million income annually from the Duchy of Lancaster.

$2565 Cake Slice

A fan of the royals bought a cake slice preserved from Charles and Diana’s wedding for a whopping 1,850 pounds ($2,565) at an auction in 2021. The large piece of cake icing and marzipan base features a detailed, sugared design of the royal coat of arms in gold, red, blue and silver. It was given to Moya Smith, a royal staffer, who preserved it with cling film and dated it July 29, 1981, USA Today reported.

The auction organisers said advised against eating it although it was in good condition. “I thought I would like to add it to my estate, which will be going to charity after my death,” the buyer said.

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first published:September 10, 2022, 12:59 IST
last updated:September 10, 2022, 14:16 IST