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After his mother, Queen Elizabeth II, passes away, King Charles not only inherits the crown but also her personal wealth without having to pay taxation.

While it is not customary for British monarchs to disclose their personal finances, the Sunday Times Rich List 2022 estimates that the queen was worth about £370 million ($426 million), up $5 million from the previous year.

Charles will inherit the majority of the late sovereign's personal assets in its entirety, without the British government receiving any compensation.

The monarchy as an institution is in possession of the true royal riches, which includes the Crown Estate grounds, the Royal Collection of art and jewellery, as well as official residences and the Royal Archives.

They will therefore only be given to Charles in trust.

The Crown Jewels, estimated to be valued at least £3 billion, are similar in that they only belonged to the queen symbolically and are immediately handed to her replacement.