King Charles Has to Pay Prince William Rent Now, Reportedly
Just because things weren't complicated enough already...
After *spins wheel* Kris Jenner forgetting she owned a Beverly Hills condo, here's today's extremely unrelatable property news.
Prince William doesn't just have a new set of titles following King Charles' accession to the throne, he also inherited a bunch of stuff along with the "Prince of Wales" and "Duke of Cornwall" names.
According to Hello!, the Duchy of Cornwall generated £23 million (~$26 million) of income for then-Prince Charles in the last tax year, thanks to all the investments made by the Duchy as a company of sorts, as opposed to investments made by Charles as an independent person.
And among those investments is the famed Highgrove House, in Gloucestershire, which is one of Charles' favorite private homes—and which now belongs to his son.
That means that William is now entitled to charge Charles a whopping £700 thousand (~$800 thousand) in annual rent for the privilege of using the home.
A presenter on ITV's Lorraine said, "Prince William is now charging his father rent, so the relationship has to be good" (via Express).
Royal reporter Roya Nikkhah answered, "It's an interesting role reversal.
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"As part of the whole shake-up in the hierarchy and the line of succession, William now takes on his father's role of Duke of Cornwall, and with that comes the Duchy of Cornwall.
"What is that? It's an enormous sway, the portfolio of land and property and interests, mostly across the southwest of the country.
"But it includes Highgrove House, which is Charles's private home in Gloucestershire and, as part of that, has an interesting lease arrangement. He has to pay his son £700,000 a year as part of that lease. So father paying son, interesting role reversal."
Interesting indeed!
Iris Goldsztajn is a London-based journalist, editor and author. She is the morning editor at Marie Claire, and her work has appeared in the likes of British Vogue, InStyle, Cosmopolitan, Refinery29 and SELF. Iris writes about everything from celebrity news and relationship advice to the pitfalls of diet culture and the joys of exercise. She has many opinions on Harry Styles, and can typically be found eating her body weight in cheap chocolate.