Prince William's Annual Salary Revealed In New Royal Report
In his initial year overseeing the Duchy of Cornwall estate, the heir to the throne accrued tens of millions in earnings.
Prince William earned an impressive $30 million in his first complete year managing the Duchy of Cornwall estate, a position he assumed following his father King Charles' ascension to the throne.
On Thursday, July 24 (local time), the Duchy of Cornwall released its Integrated Annual Report, showing a distributable surplus of £23.6 million ($30.4 million) for the 2023-2024 fiscal year. This figure represents Prince William's initial full year as Duke of Cornwall and covers the official, charitable, and personal expenses for him, Kate Middleton, and their three children.
As a working royal, William, 42, does not earn a conventional salary. Instead, his annual expenses are predominantly funded by the Duchy of Cornwall, an estate created by King Edward III in 1337 to support the heir to the throne. This extensive estate, valued at over $1 billion, covers 130,000 acres across 23 counties in England and Wales, encompassing land, farms, homes, and various assets to sustain the heir and their family.
It is understood that Prince William is subject to income tax on the total revenue he receives from the Duchy of Cornwall, once household expenses, which have not been detailed, are deducted.
When King Charles ascended to the throne in 2022, Prince William succeeded him as the Duke of Cornwall and took over the management of the estate.
Following Queen Elizabeth's death, a royal insider noted that Prince William was "deeply engaged" in his responsibilities as the head of the Duchy of Cornwall. Since taking on the role, the Prince of Wales has made multiple visits to the estate, including an overnight stay in May to tour an innovative housing project in Newquay designed to tackle homelessness.
