What to know about Prince Charles III

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Queen Elizabeth II's son Charles has ascended the throne. Charles, 73, was the Prince of Wales longer than anybody else in British monarchy history.

Buckingham Palace confirmed Thursday that the new monarch would be known as King Charles III.

"The death of my beloved Mother, Her Majesty The Queen, is a moment of the greatest sadness for me and all members of my family," Charles said in a statement.

"We mourn a beloved Sovereign and Mother. I know her death will be felt across the country, Realms, Commonwealth, and world.

My family and I will be reassured and sustained by the respect and deep regard for The Queen.

Charles is the first modern successor to the British crown; he was sent to school rather than schooled privately at the palace and earned a BA at Cambridge.

The young prince then served in both the Royal Air Force and the Royal Navy, being deployed on several warships during the 1970s.

But as CBS News correspondent Mark Phillips reports, Prince Charles' role up to this point has largely been an exercise in waiting, and in carving out a meaningful role while doing so.

Difference Between queen & Queen Consort

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