Who Will Inherit King Charles' Money After He Steps Down? Harry, William

Publish date: 2024-03-21

In the wake of his cancer diagnosis, there’s been lots of speculation about King Charles’ inheritances and which members of the British royal family could receive his fortune one day. While some will walk away with a sizable sum of their own, others may be less satisfied with what they get from the monarch.

King Charles, born to Queen Elizabeth II and Prince Philip, ascended to the British throne following the death of his mother on September 8, 2022. As the longest serving heir apparent, Charles was 73 years old when he became king—also making him the oldest person to ever succeed the British throne. In his first speech as king, Charles paid tribute to his mother’s life and promised that “throughout the remaining time God grants me, to uphold the Constitutional principles at the heart of our nation.”

The monarch has been married twice in his lifetime: first to Princess Diana, with whom he welcomed sons Prince William and Prince Harry, and later to Camilla Parker Bowles following his divorce from the late Princess of Wales in 1996. Charles and Camilla went on to marry in 2005. Their union was initially met with widespread controversy, but has since evolved into a lasting partnership, eventually earning Camilla the title of Queen Consort upon Charles’ ascension to the throne.

Just over a year after becoming king, Charles underwent a medical procedure to address an enlarged prostate. In January 2024, Buckingham Palace disclosed that a separate medical issue was discovered during the procedure, which later turned out to be cancer. While palace officials refrained from disclosing the specific type, they confirmed it was not prostate cancer. As he pursued treatment, Charles withdrew from public engagements. The royal household faced even more challenges when it was later revealed that Kate Middleton, the Princess of Wales, was also diagnosed with cancer following a planned abdominal surgery earlier that year.

These unforeseen circumstances have led many to question the future of King Charles’ inheritances and who they will end up with. While personal wills and testaments remain private for several decades after a royal’s death, there are still plenty of insider reports that can give us a good idea of who will inherit King Charles’ money, and we’re diving into those details up ahead.

Who will inherit King Charles’ money?

For everything we know about who will inherit King Charles’ fortune after his death, keep on reading below.

What will Queen Camilla inherit from King Charles?
Assuming she outlives King Charles, Queen Camilla would most likely take on the role of Queen Dowager following his death. As his wife, Queen Camilla could possibly expect to inherit various assets and properties accumulated during their marriage. These could include residences such as Clarence House, which is valued at an estimated $72 million, Highgrove House, valued at around $39 million, and other properties owned by the royal family. Additionally, Queen Camilla will likely receive financial provisions to maintain her lifestyle and support her official duties as a member of the royal family.
This financial support could come from sources allocated for the maintenance of the monarchy, such as the Sovereign Grant. The taxpayer-funded grant, which was established in 2012, is essentially an annual payment from the UK government to the reigning monarch to cover the costs of official duties, such as staff salaries, travel expenses, the maintenance of royal residences, and other operational expenses. While Camilla would no longer be one of the main beneficiaries of the grant following Charles’ death, she could continue to receive payments as long as she remains a working member of the royal family.
The amount received from the Sovereign Grant varies year-to-year, as it is calculated as a percentage of the annual profits generated by the Crown Estate, which is a large portfolio of properties and assets owned by the reigning monarch but managed independently. As of 2023, the Crown Estate was valued at around $20.5 billion and generated an estimated $410 million in net revenue in 2022, per Forbes. Current law allocates an amount equal to 25 percent of the Crown Estate’s profits to the Sovereign Grant, though this percentage can always be adjusted with future legislation.
Queen Camilla could also inherit personal possessions and heirlooms passed down through the royal family. These items—perhaps drawing from the late Queen Elizabeth II’s art and fine jewelry collection—carry both sentimental and historical significance that could become part of her personal estate or be kept within the royal collection for future generations.
What will Prince William inherit from King Charles?
As the heir apparent to the British throne, William stands to inherit most of the wealth amassed by King Charles. Drawing from the precedent set by Charles’ inheritance from the late Queen Elizabeth II, William can expect to become the new owner of a wide range of valuable assets, including properties such as Balmoral Castle and the Sandringham Estate, valued at $140 million and $65 million, respectively. In line with tradition, William is also likely to inherit a treasure trove of personal belongings from his father, such as priceless artwork that has been passed down from generation to generation. Like his father and grandmother before him, William will be exempt from paying taxes on these assets due to a 1993 agreement with the British government, which stipulates that transfers of property and personal assets between monarchs are not subject to the UK’s 40 percent inheritance tax.
In addition to these private assets, William will assume control over a large portfolio of holdings and properties managed by the Crown Estate. Technically speaking, William will not own these properties and they are not his to sell—he will only oversee them until they are passed down to the next sovereign. The Crown Estate includes landmarks such as Buckingham Palace and Windsor Castle, and is altogether valued at a whopping $20.5 billion. William will also inherit stewardship of the Duchy of Lancaster, an estate and financial portfolio owned in trust by the reigning monarch. With assets valued at hundreds of millions of pounds, the Duchy of Lancaster includes agricultural land, commercial properties, and investments that generate income to support the monarch’s official duties and charitable endeavors.
Lastly, William will become the primary recipient of the Sovereign Grant, a taxpayer fund each year to the British royal family. This grant, calculated from a percentage of the profits generated by the Crown Estate, will finance various expenses for William and his family as he ascends the throne. While there’s no telling exactly how much William will receive from the grant, his father previously received tens of millions of pounds from the grant each year.
It’s worth noting, of course, that William’s inheritance is not solely a matter of personal wealth but also includes his responsibilities as a future monarch. Above all else, Prince of Wales will inherit the role of king and with this, the duty to uphold the traditions and values of the British monarchy.
What will Kate Middleton inherit from King Charles?
As the wife of Prince William, Kate Middleton stands to inherit a number personal assets through her husband’s ascension to the throne. Most importantly, Kate will also take on a new title as Queen Consort to the king. In her role as Queen Consort, Kate could receive bequests tailored to her new position within the royal family, such as specific properties or financial provisions to support her official duties and charitable endeavors. Any financial support would also likely stem from the Sovereign Grant, which her husband will inherit upon becoming king.
Previously, Kate inherited a significant portion of the Queen Elizabeth II’s personal jewelry collection, estimated to be worth $110 million, according to a report by Radar Online in September 2022. This collection comprised 300 pieces specifically owned by the Queen herself, rather than being part of the Crown Estate’s holdings. The Queen’s decision to give her jewelry to Kate, with whom she developed a close bond in her final months, reportedly caused some resentment from Queen Consort Camilla. Interestingly, Kate’s inheritance from the Queen did not include the Spencer Tiara—a diamond-encrusted crown initially given to the late Princess Diana. Instead, the tiara has been passed down to William and Kate’s daughter, Princess Charlotte.
What will Prince Harry inherit from King Charles?
Prince Harry’s inheritance from King Charles is likely to be quite different from that of his brother, Prince William, due to his decision to step back from his official royal duties in 2020. While Prince Harry might still some receive personal effects or heirlooms from his father, it is unclear if Charles will choose to leave his son any additional financial assets.
Prince Harry previously revealed that his father cut him off financially following his decision to step back from his role as a senior working member of the royal family alongside his wife, Meghan Markle, in 2020. “I had to afford security for us,” Harry said during the Sussexes’ tell-all interview with Oprah Winfrey in March 2021. “[I was cut off] in the first quarter of 2020. But I’ve got what my mom left me and without that, we would not have been able to do this.” Harry was referring to his inheritance from Princess Diana, who left behind her estate to her sons, the value of which was to be held in a trust until their 25th birthdays. Each of her sons ended up receiving around $10 million after taxes from their late mother, per Forbes.
According to a report by Byline Times, Charles’ decision to cut Harry off financially was fueled by the hope that he would return his life as a working royal. “The removal of the transition funding, which Prince Charles knew was his son’s only lifeline to keeping safe, was considered a very effective way of trying to bring Harry and Meghan to heel in the U.K. But it didn’t work,” a source told the publication.
As such, Prince Harry’s inheritance from King Charles may continue to be affected by his decision to relinquish his royal duties and pursue a more independent life outside of traditional royal responsibilities. It is unlikely he will receive any institutional assets managed by the Crown Estate and other royal holdings. According to a report by In Touch, some royal family members even urged Charles not to leave an inheritance for his youngest son. “Charles is not obligated to leave Harry anything,” a source told the publication in February 2024, “and Camilla and William are urging him not to — they see the Sussexes as greedy fame-seekers who can’t be trusted.”
What will Meghan Markle inherit from King Charles?
Meghan Markle’s inheritance from King Charles may be limited. Unlike her sister-in-law, Kate Middleton, who is set to inherit the role of Britain’s next Queen Consort, Meghan’s entitlement to any titles or assets appears uncertain given her decision to step back from her role as a senior working member of the royal family alongside her husband, Prince Harry.
The former Suits actress is not believed to have received anything from Charles’ mother, Queen Elizabeth II, when she passed away in 2021. At the time, Radar Online reported that the Queen likely did not leave any valuable jewels to Meghan. “As for Meghan, she’s not their concern,” a source told the outlet. The insider speculated that the Queen chose not to leave the Sussexes any inheritance either out of “practicality” or due the couple’s strained relationship with the British royal family in the years leading up to the monarch’s passing. “Some people think it won’t be out of spite, but practicality. Others say it would be the Queen sending a message to Meghan and Harry: You reap what you sow.”
So, while Meghan technically remains Duchess of Sussex—and mother to King Charles’ grandchildren, Archie and Lilibet—her inheritance from the king may be minimal, if any, reflecting their complex family dynamic ever since her and Harry’s departure from royal life.
What will Princess Anne inherit from King Charles?
In terms of her inheritance, Princess Anne could end up with assets from King Charles’ estate after his passing (assuming Anne, who is only two years younger than Charles, outlives her older brother.) These could include family heirlooms or other financial provisions reflecting her status as a member of the royal family. However, the specifics of her inheritance would obviously be influenced by various factors, including whether or not she is still a working member of the royal family by the time her brother passes.
As a working member of the royal family, Princess Anne may still be entitled to receive a share of the Sovereign Grant to support her official duties even after King Charles’ passing. The grant, funded by taxpayers, is allocated annually to fund the activities and expenses of the monarchy. As one of the hardest-working members of the royal family, Princess Anne is known for her extensive charitable work and numerous engagements, which she carries out on behalf of the monarchy.
What will Prince Andrew inherit from King Charles?
Following his ties to convicted pedophile Jeffrey Epstein, Prince Andrew faced significant repercussions—including the loss of his military titles and being asked to step down as a working member of the royal family. While Prince Andrew remains a member of the royal family and is entitled to certain privileges and protections, any inheritance from his brother King Charles may be overshadowed by the need to address this troubled public image.
Past reports also suggest some tension between Prince Andrew and King Charles regarding the Duke of York’s salary and living arrangements. According to The Sun, King Charles reportedly suggested that Prince Andrew move out of his 30-room Royal Lodge in Windsor Park—where he has resided with his ex-wife, Sarah Ferguson, since 2004—into Frogmore Cottage, which was previously occupied by the Duke and Duchess of Sussex. This proposed relocation seemingly aimed to cut costs for the monarchy, but Prince Andrew “resisted” the suggestion, according to a source who spoke to The Sun. The outlet also reported that Andrew feared he was under risk of being “kicked out” after Charles sought to cut his royal stipend, which previously amounted to around $315,000 per year from Queen Elizabeth II.
Given these circumstances, Prince Andrew’s inheritance from King Charles could very well be negatively influenced—both by his diminished role within the royal family and his reluctance to comply with cost-cutting measures over the years.
What will Prince Edward inherit from King Charles?
As the youngest of King Charles’ siblings and a working member of the royal family, Prince Edward could expect a similar inheritance as his sister Princess Anne. While it’s unclear what the specifics of this will entail, it’s fair to assume that the Duke of Edinburgh will continue to be well provided for.
Following his nephew Prince Harry’s royal exit, Prince Edward became the most senior working male royal after King Charles and Prince William. His inheritance will likely include continued support through his share of the Sovereign Grant, which is funded annually by taxpayers to pay for the monarchy’s expenses. It is possible that King Charles could also opt to leave his brother other assets in the form of personal effects or property. Currently, Prince Edward lives in Bagshot Park in Surrey, a 120-room royal residence, where he has resided since marrying his wife, Duchess Sophie, in 2002.