Prince William's whopping annual income as heir to British throne revealed in new royal report
LONDON, UK: Prince William’s annual income as the heir to the British throne has been revealed and it is mind-boggling, to say the least.
The 42-year-old, apart from assuming the title of Prince of Wales, also became the new Duke of Cornwall when his father King Charles ascended the throne.
The Duchy of Cornwall published its Integrated Annual Report on Thursday, July 24, revealing the annual income of the future king to be $30 million, per PEOPLE.
Prince William receives substantial income from the Duchy of Cornwall
The Duchy of Cornwall, which William inherited on the occasion of his father ascending the throne after the death of Queen Elizabeth II, is a centuries-old estate spanning thousands of acres.
Back in 1337, King Edward III established the estate to provide funds for the heir to the British throne.
According to the annual report, the Duchy of Cornwall revealed the total income of a distributable surplus of £23.6 million ($30.4 million) for the 2023-2024 financial year. The fiscal year also marks William’s first full year as the Duke of Cornwall.
The estate garnered about $29 million last year, though William only saw a portion of that as he inherited the estate halfway through the year.
The amount covers all the official, charitable, and private expenses of Prince William, his wife Kate Middleton, and their three children.
The prince, who is a senior working royal, does not receive a traditional salary. Nevertheless, his expenses are covered by the income of the Duchy of Cornwall.
The royal estate is estimated to be worth over $1 billion and spans 130,000 acres across 23 counties in England and Wales.
It has also been reported that William pays income tax for the entire income he receives from the estate. However, the actual amount is not known.
Upon accepting his new role as the Duke of Cornwall in 2022, William was said to be "fully immersing himself" in his role as head of the Duchy of Cornwall.
Since then, his roles in various sectors have also undergone considerable changes. In May, he visited the site of the duchy’s innovative housing project aimed at addressing homelessness in Newquay.
The report further highlighted William’s patronages and associations of the various associations.
While he has been holding the presidential role of The Football Association since 2006, upon assuming the duty of Prince of Wales, he is also to serve as the patron of the FA. This position was previously held by Queen Elizabeth before her death.
Apart from being the patron of the FA, he will assume new patronages with the Welsh Guards Charity and the Royal Cornwall Agricultural Association.
The father-of-three will assume the roles of the presidents of the Victoria Cross and George Cross Association and transition from president to patron of Fields in Trust.
Prince Harry’s inheritance revealed
Recently, it has been revealed that Prince Harry is set to receive a seven-figure sum when he turns 40 on September 15.
Harry’s great-grandmother, the late Queen Mother boasted an estimated fortune of £70m ($90m). She previously put her money into a trust fund for her family.
From that amount, Harry is set to receive $7 million when he celebrates his milestone birthday in a few weeks.
Per OK! Harry is set to receive a substantial amount from the tax-exempt Duchy of Cornwall. Overall, the ‘Spare’ author and his wife Meghan Markle is estimated to boast a combined net worth of $60 million.
