Ever wondered how much Britain’s future King takes home each year? Well, per a new report, it’s quite a lot.
According to People, Prince William earned a whopping $30 million this year from the Duchy of Cornwall estate. The Prince inherited the title of the Duke of Cornwall (and that substantial pay raise) when his father King Charles II ascended to the throne in 2022. But, don’t worry! William is still expected to pay income taxes on his multi-million dollar salary after he subtracts unspecified “household expenses.”
On Thursday, the Duchy of Cornwall published its Integrated Annual Report for the 2023-2024 fiscal year (William’s first full year as the Duke of Cornwall). The estate earned a surplus of £23.6 million ($30.4 million) for the year which reportedly covers “the official, charitable and private expenses of Prince William, Kate Middleton and their three children.”
The estate—which is valued at well over $1 billion and houses farmland, property, and commercial businesses—was established by King Edward III in the 14th century as a way to provide funds to the heir of the British throne. “The Duchy employs more than 150 people, who work across seven offices in London, Bath, Dartmoor, Hereford, Liskeard, Poundbury and The Isles of Scilly, as well as in the Duchy’s own businesses – the Duchy Nursery and the Duchy Holiday Cottages” per the estate’s official website.
Along with a hefty pay bump, Prince WIlliam has also taken up more duties concerning his role at The Football Association. He previously served as the president of the association from 2006 and will now serve as the patron of The Football Association. The title was previously held by his late grandmother Queen Elizabeth until her passing in 2022.
In 2022, a source close to the Prince outlined how he’s approaching his new title, the Duke of Cornwall. “He is going to very much take an active role in it. He is fully immersing himself in it,” the insider explained at the time.
As a working Royal, William is not entitled to a set annual salary. For comparison, King Charles reportedly makes about $25 million per year from the Duchy of Lancaster and $30 million from his share of the Sovereign Grant. There’s certainly no penny pinching going on over at Buckingham Palace!