Prince William’s Salary Was Made Public, Revealing He Made Over $30 Million During His First Full Year Under His New Title, Duke Of Cornwall
As the prince of Wales, William makes a lot of money, which is to be expected, of course. We expect nothing less from a royal. But a few days ago, Prince William’s salary was made public, and it got the internet buzzing.
The Duchy of Cornwall published its Integrated Annual Report on July 24, revealing that the 42-year-old prince received $30.4 million for the 2023 to 2024 financial year, his first full year under his new title, Duke of Cornwall. He inherited the title and the Duchy of Cornwall estate when his father, King Charles III, ascended the throne in 2022.
The jaw-dropping income goes toward the official, charitable, and personal expenses of Prince William, as well as his wife, Kate Middleton, and their three children, George, Charlotte, and Louis. Technically, William does not receive a traditional salary.
Instead, his expenses are mostly covered by the Duchy of Cornwall, an estate that was established in 1337 by King Edward III to provide funds for the heir to the throne.
The estate is worth over a billion dollars and stretches across 130,000 acres in 23 counties in England and Wales. The land is comprised of farms, residential and commercial properties, and other assets.
Prince William voluntarily pays income tax on the entire income he receives from the estate after subtracting household expenses and business-related costs. His tax bill has not been specified, which strays from a tradition that his father, King Charles III, established in past years.
Each year, the king publishes a full breakdown of his taxes. During his final year as Duke of Cornwall in 2022, he paid $7.6 million in taxes. Kensington Palace has insisted that Prince William is paying an “appropriate” level of income tax, even though he has not made it public.
Aside from salary, the recently released report highlighted the travel expenditure for the royal family. It increased by nearly $400,000 to a total bill of $5.4 million in 2023, despite the fact that there had been around 400 fewer visits and less foreign travel than the year before.
The report also announced a shift in Prince William’s role at The Football Association (FA). He was given the title of patron of the FA, a position that was formerly held by his grandmother, Queen Elizabeth.
Rixie – stock.adobe.com – illustrative purposes only
Since 2006, William had been president of the FA. The title change reflects his senior role as Prince of Wales.
The prince has been a dedicated soccer fan for decades. He even traveled to Berlin with his son George to watch England and Spain compete in the Euro 2024 final.
Additionally, Prince William will assume other new titles, including patronages with the Welsh Guards Charity and the Royal Cornwall Agricultural Association.
He will also become president of the Victoria Cross and George Cross Association, as well as transition from president to patron of Fields in Trust.
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