This statue of Charles III can be found in the Puerta del Sol. Charles III was the King of Spain and the Spanish Indies from 1759 to 1788.

As king of Spain, Charles III tried to rescue his empire from decay through far-reaching reforms such as weakening the Church and its monasteries, promoting science and university research, facilitating trade and commerce, modernizing agriculture and avoiding wars. He never achieved satisfactory control over finances, and was obliged to borrow to meet expenses. His reforms proved short-lived and Spain relapsed after his death, but his legacy lives on to this day.