Queen Elizabeth II, the longest-reigning monarch in British history, breathed her last on Thursday in Balmoral Castle, United Kingdom (UK) at the age of 96.
“The Queen died peacefully at Balmoral this afternoon,” a display message on the official website of the Royal family reads.
“The official website of the Royal Family is temporarily unavailable while appropriate changes are made.”
Who is the new King?
Charles, as the queen’s eldest child, inherited both the title of sovereign and the job as head of the Commonwealth, along with other assets such as land and property.
Charles, 73, is the longest-serving heir in British history after waiting decades to get to the throne.
The queen and her late husband, Prince Philip, had four children, with Charles being the oldest. He became Britain’s heir apparent at age 3 when his mother succeeded to the throne at the age of 25. Prince of Wales, Duke of Cornwall, Duke of Rothesay, and Earl of Carrick were some of Charles’ titles while he was the heir to the throne.
The title of Prince and Princess of Wales was given after Charles wed Diana Spencer in 1981.
They had two children; William, who is now the heir presumptive, and Harry, now the fifth in line to inherit the crown. Charles and Diana separated in 1992. In a few years, they were divorced. Charles wed Camilla Parker Bowles, who is now known as the Duchess of Cornwall, in 2005.
How much money will the new King inherit?
King Charles inherits not just the crown but also his mother, Queen Elizabeth II’s private fortune, without having to pay inheritance tax.
King Charles had a net worth of $100 million before succeeding to the throne. Now, Queen Elizabeth II has left a fortune of $500 million in personal assets to the future King, bringing his total net worth to $600 million.
He will also recover the annual Sovereign Grant. which was $116.7 million in 2021.