Reports Reveal Prince William Will Receive $7.5 Million Salary Per Year, Thanks to New Title
Prince William's annual salary was revealed by the British royal family's reports on June 29, 2023. The astonishing figures come after the Prince of Wales became the 25th Duke of Cornwall after his grandmother Queen Elizabeth II passed away, making his father King Charles III. The Duchy of Cornwall report shed light on William's earnings which are around $7.5 million a year. William received the title that previously belonged to his father before he assumed the throne as king.
Prince William is using his new title to tackle climate change and establish new initiatives across the estate that will be fruitful in the future, per the report. He reportedly earns private income through King Edward III's Great Charter of 1337. "The land, property and other assets of the Duchy and the proceeds of any disposals of assets are subject to the terms of the original Charters and the Duchy of Cornwall Management Acts," the statement read.
The statement also mentions how the asset's revenues will benefit the "present and future Dukes of Cornwall." Prince William's windfall came after inheriting this Duchy along with the title that will get him a surplus of profits from the dukedom. The Duchy recorded profits of roughly $30.34 million for FY 2022 to 2023.
The Duchy Of Cornwall: What Is It?
It is essentially a private fund that is currently owned by Prince William. It was originally founded by Edward III back in 1337 to "provide independence to his heir." A Duchy is a vast area. In case of Cornwall, it has 52,449 hectares (almost nearly 130,000 acres) of land which has forests, rivers, coasts and residential properties extending beyond the areas of Cornwall and has roughly $438 million worth of commercial properties, per Duchy Of Cornwall. The Duchy's assets crossed the $1.2 billion mark in 2022 as per, The Independent.
A Look At Prince William's Net Worth
Prince William's net worth is around $100 million, per Celebrity Net Worth, Here's everything he has and will have.
His great-grandmother had a trust fund for him and his brother: In 1994, Queen Elizabeth's mother placed two-thirds of her fortune, which was around $24.13 million at the time, into the trust for her great-grandchildren. At the age of 21, the brothers split the money, per The Guardian.
His mother left him some money as well: Princess Diana left him and his brother $10 million each after taxes. They get an annual dividend of $450,000, per Cosmopolitan.
He is a working royal: Working royals are supposed to attend lots of charitable events and socialize. As a result, he and his wife Kate Middleton travel a lot and the expenses are mostly covered by the Sovereign Grant.
How Much Does King Charles III Earn?
As the Prince of Wales, Charles never received any payment. His money always came from the funding from Duchy of Cornwall. Charles got the equivalent of $777 million from his estate through the years, per The Guardian. However, now that he is king, Charles will get about $25 million a year from the Duchy of Lancaster the estate that belongs to whoever is the King or Queen of England.
How Much Is Duchy Of Lancaster Worth?
This Duchy is currently owned by King Charles III and comprises 18,481 hectares (45,550 acres) of land and has commercial, agricultural and residential properties which are spread in the area of Lancashire, Yorkshire, Lincolnshire and Staffordshire. As per official reports, this Duchy is worth around £652.8 million which is close to $800 million.