Billionaire King Charles and his coronation



May 13, 2023

Billionaire King Charles And His Coronation

Hoor Asrar looks at the crowning of the British monarch

Billionaire King Charles And His Coronation – It was the first coronation of a British monarch in 70 years as King Charles III’s mother Queen Elizabeth II was crowned in 1953. The much-awaited coronation event began at 11.00 am came to an end with the royal family appearing on the iconic Buckingham Palace balcony. Crowds cheered as they witnessed the newly crowned King Charles and Queen Camilla. As the final guests were arriving, the King and Queen’s journey through the streets of London was also coming to an end as they approached Westminster Abbey. The royal couple rode in a carriage that was the Late Queen’s jubilee carriage, a newer version of the uncomfortable, 260 year old Gold State Coach.

As the monarchs entered the magnificent church, Penny Mourdaunt, who contested the election for leader of Conservative Party both against Liz Truss and Rishi Sunak, waited to welcome them. In her role as Lord President of the Privy Council she was a big part of the proceedings. The sacred objects entered Westminster Abbey next, the first being the ornate, and extremely heavy 17th Century St. Edward’s crown. This is worn by a monarch only once in their lifetimes when the new monarch is crowned.
The ceremony began with a welcome and King Charles accepted his willingness to take on the throne. Interestingly, after having over 70 years to prepare for this moment, the King read his few words from a sheet over his shoulder. Perhaps the solemn event was a tad boring for the little Prince Louis, who is well known for displaying his emotions clearly. The King was covered by a screen for the sacred moment of the anointing which, historically, has always been done in complete privacy. Camilla watched on as her husband took off his coronation robe and stepped out of sight. One final change of costume and Charles finally walks out of Westminster Abbey, the anointed and crowned King.

Westminster Abbey is a long building. That said, it was always going to be hard for those at the back of the congregation to get a glimpse of what is going on at the front. Screens were placed inside Westminster Abbey to get live-coverage of the events taking place at the other end. Without much more drama, Charles was taken into the confines of Buckingham Palace and could now relax, away from the public eye for a break before the salutes and music in the gardens of the Palace. The procession followed them in and lined up in perfect fashion in the gardens of this iconic building.

King Charles has taken over the throne and his conduct is rated to be very calm and he is known to be a down-to-earth monarch who has shown a marked distaste for being in the news for maximum time. He has considerably slowed down the pace and has calmed down the monarchical hype created and sustained by his mother. His approach is slowly getting accepted in the British social circles and the public opinion is in line with the subdued perceptions the British currently hold for the royal family.
Through inheritance, royal estates and shrewd investing while a prince, Charles III was crowned on 6 May with a considerable fortune to his name. Queen Elizabeth II bequeathed her son an estimated $448 million upon her death in September last year boosting Charles’s fortune to £600 million. The former Prince of Wales built up his coffers by an ambitious investment programme following his £17 million divorce from wife Princess Diana in 1996.

When his mother became queen in 1952, Charles also received an income from the Duchy of Cornwall, an estate established in the 14th century to give the heir to the throne apparent financial independence. For Charles, the duchy encompasses everything he is passionate about and loves the work there. In addition to 260 farms, the duchy, which has now passed to his heir Prince William, owns 52,450 hectares (nearly 130,000 acres) of land and leases £345 million of commercial property.

Charles even created a community, Poundbury, on duchy land close to Dorchester on England’s south coast where he put his architectural ideas into action. Under his leadership, the duchy amassed assets worth more than a billion pounds generating the then heir an income of around £23 million per year, an increase of more than 40 per cent over 15 years. Because of a centuries-old tradition, confirmed by a 1993 clause agreed by the then prime minister John Major monarchs do not have to pay any tax on assets left by their predecessor to guard against the royal estate being broken up.

The monarch’s will is not made public in the UK, meaning the content of Queen Elizabeth II’s will remain private. It is however, known that Balmoral Castle in northeast Scotland, where the royal family spends its summers and where the queen died last September and the Sandringham estate in eastern England were left to Charles as both are privately owned. By contrast, Buckingham Palace in central London and Windsor Castle, west of the capital, belong to the state. Another historical symbol of the British monarchy, the Crown Jewels are also the property of the nation and are therefore excluded from the evaluation of the royal fortune. They are estimated to be worth several billion pounds.

As sovereign, Charles receives the annual sovereign grant — an endowment of one quarter of the profits on the income generated by the Crown Estate, a vast collection of lands and holdings and the rest goes to the Treasury. The sovereign grant hit £86.3 million in 2021-22. A final fund completes the royal fortune: the Duchy of Lancaster, which is controlled by the sovereign and which generated £24 million for the queen in 2022. When it comes to estimating the totality of the Crown Estate it is acknowledged that hardly anyone knows what it is. Many people include the Duchy of Lancaster, which is legally defined as state-controlled but whose entire profits accrue to the monarch, and luxury vehicles, technically owned by the state but exclusively used by the royal family, as well as works of art and jewelry. The Weekender

Hoor Asrar Rauf has remained a national swimming champion and recently Graduated from UCF-USA in Hospitality and Event Management 


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