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New Report Shows Prince William Took In $30 Million For His First Year Royal Salary
In his first full year as Duke of Cornwall, Prince William received a substantial $30 million from the Duchy of Cornwall estate, according to the estate’s Integrated Annual Report released Thursday.
The report, covering the financial year of 2023-2024, disclosed a distributable surplus of £23.6 million ($30.4 million), earmarked to cover official, charitable, and private expenses for Prince William, Kate Middleton, and their three children. The income represents the earnings from the vast Duchy of Cornwall estate, which supports the heir to the throne, spanning 130,000 acres across 23 counties in England and Wales.
Established in 1337 by King Edward III, the Duchy of Cornwall is valued at over $1 billion and includes various assets such as land, farms, and houses. It serves to provide financial support to the Prince of Wales and his family instead of a traditional income. Prince William, now 42, pays income tax on the entirety of his Duchy earnings after deducting household expenses, although specific figures were not disclosed.
Upon his father King Charles’s accession to the throne in 2022, Prince William assumed the title of Duke of Cornwall and the responsibilities associated with overseeing the Duchy’s operations. The estate plays a crucial role in funding the activities and commitments of the royal family, facilitating engagements and charitable endeavors.
During the financial year covered by the report, Prince William actively engaged with the Duchy, visiting various initiatives and projects supported by the estate. In May 2024, he visited Newquay to inspect a housing project aimed at tackling homelessness, underlining his commitment to initiatives supported by the Duchy.
The report also detailed updates to Prince William’s patronages, signaling his expanded role within various organizations. Notably, he transitioned from President to Patron of Fields in Trust and assumed the position of Patron of the FA, succeeding his grandmother Queen Elizabeth. A longstanding football enthusiast, Prince William had previously served as President of the FA since 2006, reflecting his ongoing commitment to sports and community initiatives.
Looking ahead, Prince William is set to take on additional patronages with the Welsh Guards Charity and the Royal Cornwall Agricultural Association, while assuming the presidency of the Victoria Cross and George Cross Association. These roles underscore his growing influence and dedication to supporting charitable causes and institutions across the United Kingdom.
As Prince William continues to navigate his responsibilities as Duke of Cornwall and as a senior member of the royal family, his stewardship of the Duchy of Cornwall remains a pivotal aspect of his role, providing essential financial support for his family and enabling him to engage deeply with charitable and community-focused endeavors.
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