After stepping into his new role with a bang, Prince William's eye-popping income reveals the staggering financial power of his current title.
The Prince of Wales, 42, has completed his first full year as the Duke of Cornwall and received a massive sum of money for the 2023-2024 financial year.
His current income was revealed in the Integrated Annual Report published on Wednesday by the Duchy of Cornwall—the estate that he inherited from his father, King Charles III, when the monarch assumed the throne in September 2022.
Highlights
- Prince William received an impressive $30 million from his first full year's income from the Duchy of Cornwall estate.
- The $30 million income covers the official, charitable, and private expenses for Prince William and his family of five.
- The Duchy of Cornwall estate is worth more than $1 billion and spans nearly 130,000 acres across some 20 counties in England and Wales.
- The estate was established in 1337 by King Edward III to provide income to the heir to the British throne.
Prince William's income as the new Duke of Cornwall was revealed in a report released by the Duchy of Cornwall this week
Image credits: The Prince and Princess of Wales / Instagram
Image credits: The Prince and Princess of Wales / Instagram
The report revealed that Prince William received an impressive $30 million from his first full year’s worth of income from the estate.
Prince William, the heir to the British throne, became the 25th Duke of Cornwall after his father’s ascension. King Charles was the Duke of Cornwall until 2022, and the Duchy of Cornwall estate provided for his needs until he passed down the title to his first-born son.
The Duchy of Cornwall is a vast private estate established in 1337 by King Edward III to provide income to the heir to the British throne. Spanning nearly 130,000 acres across some 20 counties in England and Wales, it includes land, farms, houses, and other assets worth more than $1 billion.
The 42-year-old heir to the British throne received the new title after his father, King Charles III, assumed the throne in September 2022
This week’s report, released by the Duchy of Cornwall, highlighted a distributable surplus of £23.6 million ($30.4 million) for the 2023-2024 financial year. This sum covers the official, charitable, and private expenses for Prince William and his family of five.
Alastair Martin, the Duchy's secretary, had a letter included in the report about the estate’s purpose and goals. He touched upon the new Duke of Cornwall’s activities over the past year as well.
The Prince of Wales received $30 million during the 2023-2024 financial year from his Duchy of Cornwall estate, which funds the public, charitable, and private expenses for his family of five
“Over the years, I have had the privilege of introducing the 25th Duke to the Duchy, with visits to the estate to meet tenants, and more recently as he and his advisers attended meetings of various Duchy Committees,” he wrote.
“This year has been the first full year with the ‘new team’ in post, and it has been a busy year. Four meetings of The Prince’s Council were held,” he continued. “In addition, His Royal Highness attended a number of other committee meetings and visited tenants and property. Our new Council members and advisers have given generously of their time and expertise, both in meetings and across the estate.”