The king is profiting from the deaths of thousands of people in the north-west of England whose assets are secretly being used to upgrade a commercial property empire managed by his hereditary estate, the Guardian can reveal. The Duchy of Lancaster, a controversial land and property estate that generates huge profits for King Charles III, has collected tens of millions of pounds in recent years under an antiquated system that dates back to feudal times. Financial assets known as bona vacantia, owned by people who died without a will or known next of kin, are collected by the duchy. Over the last 10 years, it has collected more than £60m in the funds. It has long claimed that, after deducting costs, bona vacantia revenues are donated to charities.
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