Since ascending to the throne in 2022, King Charles III has more than doubled his personal fortune. As of the last Sunday Times Rich List, that fortune is now worth £640 million. This latest measure puts him on the same level as former PM Rishi Sunak and his wife Akshata Murty. It’s no wonder the King’s fortune jumped by £30 million over the last year. This dramatic increase in wealth shot him up 20 spots to no. 258 on the list.
The late Queen Elizabeth II, who died in 2022, was valued at £370 million. King Charles III already has a wealth that exceeds his mother’s by £270 million. This sizable boost mostly derives from the investment portfolio that he inherited from her. This massive increase is telling in the shifting financial fortunes of the British monarchy. It’s a sign of some other economic headwinds the UK is facing right now.
Sunday Times Rich List report shows that there is now a record high of 172 billionaires living in the UK. The count has decreased from 165 in 2024 to just 156 this year. Robert Watts, the editor of the Rich List, noted that “our billionaire count is down and the combined wealth of those who feature in our research is falling.” He pointed to a dip in the number of the world’s super-rich choosing to set up home in the UK. This recent trend really started to hit home.
His new title in riches moves him ahead of some of the biggest names in show business. Most notable is One Direction’s Harry Styles, 31, who is worth £225 million and sits 22nd. By contrast, 34-year-old Ed Sheeran is worth a staggering £370 million and occupies 13th place overall.
In contrast to Charles’s increasing personal fortune, the picture painted by the other UK billionaires is one of contraction. At the top of the richest people, Sir James Dyson and family come in at No 1 with an estimated £20.8 billion fortune. Idan Ofer is in second place with £20.12 billion. David and Simon Reuben and family are third with £26.87 billion. Sir Leonard Blavatnik has a net worth of £25.73 billion, fifth richest in U.K. At the same time, Gopi Hinduja and his clan have slumped to £35.3 billion from £37.2 billion.
Under his reign, King Charles III has also personally seen a marked increase in fortunes. His increase in wealth coincides with a UK trend of disappearing billionaires. This decline in the number of billionaires may be a reflection of evolving economic circumstances or the increasing concentration of economic power in our country.