It's good to be King

Well, does this mean the monarchy (sort of?) pays for itself?:

LONDON — The British royal family will be receiving a 53 percent raise, worth more than 45 million pounds ($58 million), thanks to a record increase in its estate’s annual profit, propelled in part by offshore wind farm leases on seabed plots owned by the monarchy.

The Crown Estate, the organization that manages the sprawling royal land and property portfolio, released a report Wednesday for the 2023-2024 financial year, the first to cover a full financial year with King Charles III on the throne.

It showed that the Crown Estate generated a “record net revenue profit” of 1.1 billion pounds ($1.4 billion) — 658.1 million pounds more than last year — and revealed the royal family’s plans for future purchases with its share of that money, including two new helicopters.

The Crown Estate is formally owned by the royal family but is controlled by the British government. Profits that the estate generates each year go to the state treasury, and the government returns a percentage to the royals under what is known as the “Sovereign Grant” to cover the operating costs of the royal household — including staff salaries, entertainment, property maintenance and travel....

In recent years, the royal family has received 86.3 million pounds ($111.4 million) from the government, and will again in 2024-2025. That figure will rise to 132 million pounds ($170 million) for 2025-2026.

The grant will support ongoing 10-year renovation projects at Buckingham Palace, British media reported, citing royal officials.

The program, whose total cost will be 369 million pounds ($476 million), is “making progress” according to a report published Monday by Britain’s National Audit Office, a public spending watchdog.