The Koh-i-Noor diamond is super controversial.
Queen Elizabeth II's death meant some big changes for her son, the new King Charles III, and that included a huge boost to his already hefty bank account.
Since ascending the throne after the queen's death, King Charles will be inheriting far more than just a few fancy crowns. The U.K's new monarch now holds his mom's outrageous fortune, which adds billions of dollars to his net worth.
Charles' new role comes with a hefty inheritance. He now assumes the queen's personal assets which include vast plots of land, a rare collection of art, valuable jewels, various properties, private investments and regal estates, including multiple castles. The Sunday Times estimates those assets to be worth about $430 million, while Forbes estimates about $500 million.
According to an estimate provided by Wealth-X, the inheritance will double Charles' already hefty net worth, which is around $440 million, reported Fortune.
But that's not all. In addition to the queen's assets, King Charles is actually going to be getting far more than that.
Charles will also take over the monarchy's assets, which are estimated to be worth anywhere from $21 billion to $42 billion, depending on who's calculating. That means even more shiny jewels, extravagant palaces, rare art and investments, although he can't really do much with all of it.
These assets include Buckingham Palace, Windsor Castle, the Tower of London and some more controversial assets like the Koh-i-Noor, a massive diamond taken from India to the U.K. under the British Empire. That gem is now a part of the British Crown Jewels, although some have been calling for the "stolen" diamond to be returned to India for many years, reported NBC News.
\u201cSince queen is dead, and before Camilla becomes the worst queen ever. Can we have the kohinoor back please? Rest In Peace Elizabeth II \ud83e\udd0d\ud83c\udf38\u201d— Umang (@Umang) 1662660870
The Koh-i-Noor, which means "mountain of light,” was originally found in India centuries ago, before it was taken to Britain and recut for the monarchy in the 1800s. The largest piece is now a 105-carat gem set in a crown, and while it has no price tag, it's estimated to be worth tens of millions.
Although these assets are owned by the monarch, they aren't directly controlled by him and he can't exactly put a "for sale" sign up at Buckingham Palace.
Still, it's a lot of assets changing hands. And the best part? Charles won't have to pay a penny in taxes for his millions of dollars worth of inheritance.
Thanks to a 1993 agreement with the British government, the reigning monarch will be exempt from paying taxes on property transferred from one sovereign to the next.
They say it's not easy being king — but a billion-dollar portfolio certainly helps!