King Charles III He formally ceded hereditary revenues, including ownership of the Crown, to the Government of the United Kingdom, and would begin receiving a Sovereign Grant to fund his official duties as King.
The arrangement that Charles signed has been the same since 1760, when King George III gave sponsorship and profits from his privately owned lands to the national government.
Charles made the announcement in a royal party At St James’s Palace on Saturday.
Stuart Varney: Queen Elizabeth did a royal job
The royal family’s private real estate investment holdings – estimated to be worth a total of $14 billion – were handed over to the nation with each successive generation.
under transfer, Sovereign It guarantees them a generous government stipend to fund their business and travel, as well as personal expenses.
Queen Elizabeth II, net worth of the British royal family
accession board Officially declared King Charles III The King of the United Kingdom at St James’s Palace on Saturday morning.
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
“I will strive to follow my inspiring example of upholding constitutional government and seeking peace, harmony and prosperity for the people of these islands, worlds and Commonwealth Territories throughout the world,” Charles said.
“Unapologetic tv specialist. Hardcore zombie trailblazer. Infuriatingly humble problem solver.”
More Stories
Lai Ching-te: Taiwan’s new president calls on China to stop “intimidation” after being sworn in
US Counselor Jake Sullivan is in Israel for ceasefire talks
Three people reported killed as DRC army thwarts ‘coup attempt’ | Military news