King Charles has seen his personal fortune swell to £640 million over the past year, now on par with former Prime Minister Rishi Sunak and his wife, Akshata Murthy, as noted in the Sunday Times Rich List.
The 76-year-old monarch, who ascended the throne in 2022, has grown his wealth by £30 million, placing him at 238th among the wealthiest individuals and families in the UK.
This wealth figure mostly derives from personal assets, including the investment portfolio inherited from his late mother, along with private properties in Sandringham and Balmoral, but it excludes the Crown Estate.
Interestingly, Charles’s wealth is now assessed to be significantly higher than that of the late Queen Elizabeth II, who had an estimated fortune of £370 million in 2022.
Nonetheless, a recent investigation by The Guardian suggests King Charles could have a total fortune nearing £2 billion, factoring in cars, rare stamps, real estate, investments, horses, jewels, and art.
Meanwhile, the wealth of Sunak and his wife has fallen from £11 million down to £640 million.
Since his departure from Downing Street, Sunak has taken on a part-time role at Stanford University, signed with the Washington Speaker Bureau, and the couple has established a charity aimed at enhancing educational outcomes.
Most of their wealth, however, can be attributed to Murthy’s stakes in Infosys, co-founded by her billionaire father.
The latest Rich List also reveals the ramifications of government tax crackdowns on non-domiciled individuals.
This past April, the Labour government abolished the non-dom tax status for British residents whose permanent residence is outside the UK.
Notably, this year marks a significant decrease in the number of UK billionaires since the Rich List began 37 years ago.
The count has dropped to 156 billionaires from 165 just last year.
Among those feeling the pinch is Ineos founder and part-owner of Manchester United, Sir Jim Ratcliffe, who now ranks as the seventh wealthiest person in the UK, still boasting a considerable £17 billion fortune.
Robert Watts, the compiler of The Rich List, remarked on the decreasing trend in both the number of billionaires and their overall wealth.
“Our count of billionaires is falling, and wealth among those listed is declining,” he noted, adding that the situation reflects a broader scarcity of wealth holders in the UK.
Watts also expressed surprise at the level of discontent voiced by wealthy individuals he interviewed for the list.
“We thought the end of non-dom positions would mainly upset foreign wealthy individuals,” he pointed out. “Yet, even young tech entrepreneurs and long-standing family businesses are warning of potential repercussions.”
The Hinduja family, owners of the Hinduja Group conglomerate, tops the wealth charts in the UK, with an estimated fortune of £35.3 billion.
Real estate magnates David and Simon Reuben, co-owners of Newcastle United, follow closely with a net worth of £26.9 billion, while Sir Leonard Blavatnik, owner of Warner Music, ranks just behind them.
Other notable figures featured on the list include musicians Elton John and Mick Jagger, Formula One driver Lewis Hamilton, and filmmakers Christopher Nolan, as well as David and Victoria Beckham.
Overall, the collective wealth of the 350 individuals and families listed has decreased by 3% year-on-year, totaling £772.8 billion, largely influenced by stock market instability tied to Donald Trump’s tariff policies affecting those with wealth in publicly traded companies.
A high-income think tank indicates that while the number of billionaires is dropping and overall wealth is declining, this won’t alter the long-standing trend where wealth is increasingly concentrated among a small group.
“The Rich List serves as an annual reminder of the UK economy’s imbalances,” commented Luke Hildyard, executive director of the organization. “Though the value of oligarchs’ assets may be slightly reducing, it highlights how a very small number of affluent individuals significantly dominate the country’s wealth over time.”
