Prince William’s earnings for his first full year managing the Duchy of Cornwall estate have been unveiled, amounting to an impressive $30 million. According to the Integrated Annual Report from the Duchy of Cornwall, the estate, which oversees the royal family’s properties across England, distributed a surplus of £23.6 million to William, 42, in his inaugural year as the Duke of Cornwall. He assumed this title from his father, King Charles III, following his coronation in May 2023, told The Mirror.
The financial year 2023-2024 marked William’s first complete year in his new role after Queen Elizabeth II’s death in September 2022 leading to Charles, 75, ascending to the throne. Charles had spent over 70 years awaiting his turn during his mother’s reign. In addition to the Duke of Cornwall title and the Duchy of Cornwall estate, William was also named the Patron of the Football Association, a role previously held by his grandmother.
Established in 1337 by King Edward III, the Duchy of Cornwall provides funds for the heir to the throne. Currently, it supports William, Kate Middleton, and their three children, Prince George, 11, Princess Charlotte, 9, and Prince Louis, 6. The fund covers their “official, charitable, and private activities,” and the estate comprises “livestock farms, residential and commercial properties, as well as forests, rivers, quarries, and coastline” spanning over 135,000 acres.
After accounting for household expenses for his family, William is believed to pay income taxes on the income from the estate. For comparison, Charles earned approximately £24 million ($30.93 million) in the 2022-2023 year from the Duchy of Cornwall estate.
The report follows several public appearances by William, including a father-son outing with George at the Euro Final match in Berlin, Germany, and a visit to Taylor Swift’s Eras Tour show in London. William has been balancing his roles as a father, working royal, and supportive husband after Kate revealed her cancer diagnosis in March. The couple has kept her health updates private, but Kate has recently returned to public events, even taking Charlotte to Wimbledon.
Kate marked her official return to the public eye in June at the Trooping the Colour event. However, the appearance was reportedly taxing. Royal expert Katie Nicholl explained the effort Kate put into the event: “The princess has this sort of swan-like quality about her — she’s sort of gliding on the surface — but beneath the water, I think often she’s paddling quite frantically.” Nicholl added, “There was a moment where she was watching the parade… and was offered a seat, which she gratefully accepted. That’s just a bit of an acknowledgment that she is not as strong, not as fit, as she was before she went into this treatment.”