As the future King of England, Prince William’s role as the British royal family’s heir apparent is more than just a title—it’s a lucrative position that has earned him a remarkable £23.6 million ($30.4 million) in the past financial year.
Here are some key points to consider about Prince William and the wealth he generates through the private Duchy of Cornwall estate:
- The Duchy portfolio comprises 52,264 hectares of land primarily in the south-west of England, housing farmland, residential and commercial properties, and coastline.
- The estimated worth of the Duchy in 2022 exceeded £1 billion ($1.29 billion).
- In the Integrated Annual Report for the 2023 to 2024 fiscal year, Duchy secretary Alastair Martin reported that the income for this period totaled £23.6 million ($30.4 million), slightly lower than the previous year.
- The revenue generated by the Duchy is independent and not funded by the U.K. public, making it an essential income source for Prince William and his family’s lifestyle and charitable pursuits.
- Despite not being legally required, Prince William voluntarily pays an undisclosed amount in income tax to the Duchy, showing his commitment to contributing to taxation systems.
- Prince William inherited the Duchy from his father, King Charles III, during the transition of monarchs in September 2022, becoming the 25th Duke of Cornwall in its rich history.
- The future king has set ambitious sustainability goals for the estate, including achieving a net zero status by 2032, prioritizing mental health services for tenants and staff, and addressing homelessness challenges in Cornwall.
As part of his sustainability vision, Prince William and the Duchy have committed to constructing high-quality temporary housing in Newquay to combat local homelessness effectively. The project is set to begin in September, with completion expected by late 2025.
Prince William’s leadership and dedication to positive change within the Duchy exemplify his commitment to future generations and the well-being of the community. His forward-thinking approach ensures that the estate’s legacy is not just about wealth but also about making a meaningful impact on society.
