(In 2022, that amounted to $30 million, pre-tax.) Unlike the Sovereign Grant, which is tax-free, the Queen agreed in 1993 to voluntarily pay income tax on the portion of the Privy Purse not used for official purposes-and Charles agreed to maintain the same policy upon his accession. The Duchy’s net revenues go directly to the King as an allowance called the Privy Purse, which covers any other official expenditures. As King, he also gains control of the Duchy of Lancaster, a private estate with $820 million in net assets that is owned in trust by the monarch. For one, it doesn’t cover physical security. The Sovereign Grant isn’t Charles’ only source of income. The most expensive trip taken by the royals in the past year, for instance, was Prince William and Kate’s nine-day visit to Belize, Jamaica and the Bahamas in March, which cost roughly $280,000, including planning prior to the visit. A 10% cut of that net profit-$43.3 million for 2022-is set aside for maintaining Buckingham Palace, and an additional 15% is used to finance the royal family’s annual travel, formal events, housekeeping and payroll. That enormous windfall doesn’t go directly to Charles, however. In 2022, the Sovereign Grant amounted to $108.4 million, based on the Crown Estate’s net profit in the 2019-20 financial year.Ī Prince's Ransom: William and Kate's nine-day tour of Jamaica, Belize, and The Bahamas cost roughly $260,000. But the royal family also gets a cut: They receive an allowance from the Treasury known as the “Sovereign Grant,” equal to 25% of the net profit for the financial year two years earlier. All of the Crown Estate’s net profit-$361 million in fiscal year 2022-goes to the British Treasury. Those properties include Regent Street, London’s prime shopping destination, as well as Ascot Racecourse (a favorite of the Queen) and virtually the entire seabed of the U.K. The single most valuable asset held by King Charles is the Crown Estate, a sprawling real estate portfolio with $20.7 billion in net assets. So what’s it all worth? Forbes gave it a royal effort. In contrast to the various estates, which file annual reports, the palaces and jewels are often thought of as priceless. They are also held “in trust” for his successors and the nation-meaning they can’t actually be sold. These assets-which include Buckingham Palace, Windsor Castle and the Tower of London-aren’t held directly by the King, but are instead owned by the reigning monarch “in right of the Crown” for the duration of their reign. Prince William now has possession of the Duchy of Cornwall, a conglomerate with $1.3 billion in net assets including the Oval cricket ground in London, Charles’ former residence at Highgrove House ( where he first began farming organically in 1985) and the Isles of Scilly, but the new King will not exactly be left wanting for prime real estate.Īs the new monarch, Charles assumes ownership of institutions that manage an estimated $46 billion in assets, including some of the world’s most famous royal palaces and the Crown Jewels. DENNIS OULDS/GETTY IMAGES, RADCLIFFE BAUER GRIFFIN/GETTY IMAGES So the Sentinelese fear of outsiders is very understandable," Stephen Corry, the group's director, said in a statement.Estate of the Union: Sandringham, one of King Charles' royal residences, sits on 20,000 acres and has its own stud farm for horses. "The British colonial occupation of the Andaman Islands decimated the tribes living there, wiping out thousands of tribespeople, and only a fraction of the original population now survives. Survival International, an organization that works for the rights of tribal people, said the killing of the American should prompt Indian authorities to properly protect the lands of the Sentinelese and other Andaman tribes. ![]() ![]() ![]() Consulate in Chennai, the capital of India's southern Tamil Nadu state, said she was aware of reports concerning an American in the islands but could not comment further due to privacy considerations. "So whether it's trekking through dense old growth forests near the Chilliwack River, finding a rumoured waterfall in the jungles of the Andamans, or just wandering around a city to get a feel for the vibes, I'm an explorer at heart." "I love to explore," Chau told the Outbound Collective four years ago. ![]() Police charged the seven fishermen with endangering the life of the American by taking him to a prohibited area, Pathak said. He said the family got in touch with Indian police and U.S. They left for Port Blair, the capital of the Andaman and Nicobar Islands, where they broke the news to Chau's friend, who in turn notified his family, Pathak said. But on the morning of the following day, the waiting fishermen watched from a distance as the tribesmen dragged Chau's body.
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