Prince William Receives $30 Million In Annual Income, New Report Reveals

The Prince of Wales has received a substantial windfall from his inheritance of the Duchy of Cornwall, according to newly released financial reports.

Prince William, 42, who became the Duke of Cornwall when his father ascended the throne last year, saw an income of £23.6 million ($30.4 million) from the duchy in his first full year overseeing the estate. This sum, detailed in the Duchy of Cornwall’s Integrated Annual Report, covers the official, charitable and personal expenses for the prince, his wife Kate and their three children.

The Duchy of Cornwall, an expansive estate established in the 14th century, serves as the primary source of income for the heir to the British throne. Valued at over $1 billion, the duchy encompasses 130,000 acres across England and Wales, including farmland, residential properties and commercial real estate.

Unlike traditional employment, working royals like Prince William do not receive a salary. Instead, their expenses are largely covered by the income generated from the duchy. It’s understood that the prince pays income tax on the full amount received, after deducting unspecified household expenses.

The release of the duchy’s financial report coincided with the publication of the annual Sovereign Grant report, which outlines the broader royal family’s expenses. This document revealed that the monarchy’s travel costs for the year ending March 2024 totaled £4.2 million ($5.4 million), covering various international charter flights and other travel expenses.

These travel expenses were part of the overall £86.3 million Sovereign Grant provided to the royal family by the British government for the 2023-2024 fiscal year. The grant, funded by taxpayers, supports the monarch’s official duties and maintains royal residences.

Last week it was revealed that William received less than his brother, Prince Harry, from a trust fund established by his grandmother.