From lavish palaces to precious works of art: Here's everything Prince William has inherited after the Queen's death

Agencies | London

The Daily Tribune – www.newsofbahrain.com

Following the demise of Queen Elizabeth II, Britain's longest reigning monarch in history, her son Charles was proclaimed the new King of England. His eldest son William also had a change in title; earlier known as the Duke of Cambridge, he is now the Prince of Wales. He also holds the royal title of Duke of Cornwall.

As Prince William overtakes the new titles, he is also the new owner of plush estates and properties. According to the New York Post, in addition to lavish palaces, glistening jewels, and precious works of art, the portfolios of the British royal family's wealth worth USD 42 billion also include a bed-and-breakfast in Transylvania. 

Prince William now owns The Prince of Wales' Guesthouses – a private "nature retreat hidden among the meadows and hills of Zalan Valley" in Romania.

The retreat, which reportedly features horseback riding and visits to local craft studios in the Carpathian foothills, is administered by the Prince of Wales' Charitable Fund. 

The non-profit also manages Duchy Organic, the largest organic food brand in the UK, which sells hundreds of items such as olive oil, cookies and strawberry preserves.

Profits from both businesses bring in more than USD 3.4 million annually for the fund's charitable projects, which include promoting sustainable farming across the United Kingdom: a longtime passion of King Charles III since he established the organisation in 1979.

Prince William also currently owns the Duchy of Cornwall, a vast estate with net assets of USD 1.2 billion, in his official capacity as the heir to the throne.

The media portal also reports that the Oval cricket ground in south London, Dartmoor Prison – a prison for non-violent male criminals that has recently been called 'dilapidated' – along with a mega-project of 4,000 dwellings, are among its properties. The latter may be the most ambitious project to ever be launched in the 700-year history of the duchy.

William is also set to take over his father's estate at Highgrove House, where Charles originally established an organic farm in 1985.

For at least 90 years, Queen Elizabeth's will is expected to remain secret, preventing the members of her family from learning about the division of assets and riches.