Analysis of major UK media outlets such as BBC, The Guardian, The Times, and Daily Mail

Royal Family to Receive £45 Million Boost as Crown Estate Profits Soar to $1.4 Billion from Offshore Wind Licenses

Jul 24, 2024, 08:00 PM

The British royal family is set to receive a significant financial boost due to record profits from the Crown Estate, largely driven by offshore wind licenses. King Charles III will receive an extra £45 million, increasing his official annual income by 53% to more than £130 million. This increase is part of the Sovereign Grant, which is funded by taxpayers. The Crown Estate's profits have doubled to a record £1.1 billion ($1.4 billion). Additionally, Prince William's annual income has been revealed to be £23.6 million from the Duchy of Cornwall, with a total worth of £1.3 billion. The announcement comes amid a cost of living crisis in the UK, highlighting the disparity between the royal family's increasing wealth and the financial struggles faced by many citizens.