Coronation of King Charles: How much is King Charles III worth?

If King Charles III and his wife, Queen Consort Camilla, will be crowned on May 6, a coronation ceremony that will sparkle with jewels and other historic symbols of the monarchy’s immense wealth.

King Charles’ wealth has soared to an estimated $2.3 billion, respectively The Guardian, which said it worked with 12 experts to carry out the first “comprehensive audit” of the king’s assets, which range from country estates to racing cars and jewels.

However, among his most valuable assets is something intangible: Charles’ exemption from UK inheritance tax, which would otherwise reduce his inherited assets by 40%. Queen Elizabeth II was worth $500 million when she died last year, mostly from her ownership of Balmoral Castle in Scotland and Sandringham House in England, as well as art, jewelry, investments and real estate, Forbes assessed last year.

Not everyone pegs Charles’ wealth at the same sky-high valuation as The Guardian. UK Sunday Times is evaluated its value is about 750 million dollars. One of the challenges in estimating the king’s wealth is that many of his financial holdings are not publicly disclosed, while other assets that appear to belong to the monarchy are actually UK property, the Guardian notes.

Live coverage of the coronation will begin at 5 a.m. ET on May 6 and will be available on CBS or live on CBS News and on yours mobile or streaming device

Here’s what we know about King Charles’ wealth.

Duchy of Lancaster: $820 million

The Duchy consists of a private estate owned by the monarch and covers around 45,000 acres across England and Wales, ranging from castles such as Lancaster Castle to commercial properties in London’s Savoy.

The estate brought Queen Elizabeth a profit of almost $140 million in the five years before her death, the Guardian notes. The branched real estate group’s assets are estimated to be worth about $820 million.

Private Net Worth: $670 million

The 94.4-carat pear-cut diamond will be included in Queen Consort Camilla’s crown at the coronation – just one of the gems privately owned by Queen Elizabeth and now owned by Charles, according to The Guardian.

Together, the 54 private jewels are worth about $670 million, the Guardian estimated. The diamond that will be in Camilla’s crown is one of two jewels called the Little Stars of Africa, both of which are usually found in the brooch, which The Guardian estimates could be worth more than $226 million.

The The crown jewels — many of which will be on display at the coronation — are owned by the state and are not part of Charles’ fortune.

Balmoral and Sandringham: $415 million

Charles inherited from his mother Balmoral, the Scottish estate where Queen Elizabeth died last year, and Sandringham, an estate in Norfolk.

Balmoral, with 53,000 acres of land, is valued at $100 million, while Sandringham, which includes farmland and rental properties, is valued at $315 million.

Other royal seats of the monarchy, such as Buckingham Palace and Kensington Palace, are not actually owned by the king, but are owned by the state.

Racehorses, stamp collection and art: $190 million

Queen Elizabeth had about 70 thoroughbreds, which The Guardian estimated at $34 million.

The monarch also owns a stamp collection called the Royal Philatelic Collection, which is considered one of the best in the world, the newspaper noted. It includes rare stamps from Laos, Canada and other countries valued at $125 million.

Art by artists including Monet, Chagall and Dali is worth another $30 million, the publication said.

Investment: $180 million

According to The Guardian, King Charles is also likely to own significant wealth in the form of stocks and other investments. It estimates those holdings at $180 million, based on a 1993 study of the royal family’s holdings in FTSE 100 companies. If the monarch had continued to hold those investments, they would be worth $150 million today, the paper said.

Assuming the crown’s private profits have been funneled into the stock market over the years, it’s likely the king has at least $180 million in stocks and other investments, the report said.

Rolls-Royce, Bentley and other cars: $8 million

The Guardian said it had discovered 23 cars at the Royal Mews at Buckingham Palace and Sandringham, although not all of them belonged to Charles.

Private cars include a 1950 Rolls-Royce Phantom IV, one of 18 produced by the manufacturer, which was purchased by Queen Elizabeth and her husband Prince Philip before her coronation. The car is worth about $3 million, the Guardian estimated. He also estimated the value of the king’s private cars at $8 million.