Royal Real Estate: King Charles Rakes In $34 Million In Rent

The United States isn’t alone when it comes to soaring rent prices. The United Kingdom is suffering as well, and even the royals are cashing in on the trend. King Charles is Britain’s most famous landlord, making a whopping $34.3 million from his vast empire, the Duchy of Lancaster. The $1 billion real estate portfolio is responsible for generating income for whoever sits on the throne. King Charles inherited the 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 corporate taxes. Under King Charles’ reign, the Duchy has increased profits, partly driven by rising rents and improved earnings from commercial properties. This year, he received £26.2 million ($33.1 million) in private income from the Duchy, surpassing the earnings of his mother. While the Duchy of Lancaster provides private income for the royal family, it represents only a fraction of their estimated $28 billion fortune.