Charles III created a “corporation” that made millions. Now he must leave her

Today, the Duchy of Cornwall includes famous cricket ground, abundant farmland in the south of England, seaside rentals, office space in London and a suburban supermarket. Property portfolio with an area of ​​130,000 sq m the acres are almost the size of Chicago and generate millions of dollars a year in rents, reports The New York Times.

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See also: How Much Does the British Royal Family Earn? Prince Charles is the richest

“The Principality is run like a trading company”

As King Charles III the monarch will now take over his mother’s fortune and inherit part of her enormous fortune without paying taxes. On the other hand, control of the Duchy of Cornwall will be transferred to his eldest son William. He will be able to continue to develop the family corporation, also without paying taxes that apply to British citizens. However, it is worth mentioning that Karol paid a tax of 45 percent last year. on property income. He did it voluntarily.

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