As King Charles III was proclaimed the new king of the United Kingdom of Great Britain and Northern Ireland  

Charles’s assets that are reportedly worth a billion pounds will also now be in William’s name – including London’s iconic cricket ground, The Oval.

His elder son Prince William has become the heir apparent or the next-in-line to the title of king

Who owns the Oval?

Duchy refers to the property owned by a Duke, who is a noble or royal figure below the rank of king and prince.

The Oval as its “historical asset”. The Duchy of Cornwall is a private estate established by King Edward III in 1337 to provide independence and income to his son and heir

The Duke of Cornwallis title refers to not just the southwestern UK county of Cornwallis, but encompasses areas from 20 counties including Kent to Nottinghamshire, reported The Guardian

It also estimated the total size of the landholdings as being around 52,000 hectares or 128,000 acres.

Surrey County Cricket Club became the sole leaseholder of the Oval ground in 1874 and the Duchy has been involved with refurbishment works such as the rebuilding of the Pavilion from 1895 to 1897, and the new Pavilion portico completed in 2013.

As per the Duchy website, The Duchy owns only about 7,552 hectares of land in Cornwall, which is 13 percent of the overall Duchy estate.

Charles’s assets that are reportedly worth a billion pounds will now be in William’s name as the heir apparent.

The last addition is because William now takes ownership of the Duchy of Cornwallis