BREAKING: New reports confirm that Prince William earned an astonishing £22.9 million (approximately $30.8 million) in the 2024-2025 financial year, as revealed in the latest Duchy of Cornwall Integrated Annual Report. This significant income marks a major financial milestone for the Duke of Cornwall, who took on the title following his father, King Charles III‘s ascension to the throne in 2022.
This year’s report highlights the financial landscape of the British royal family, particularly focusing on how the Duchy of Cornwall estate, established in 1337 by King Edward III, supports the heir to the throne. The funds generated from this estate are crucial in covering the charitable and private expenses of Prince William, Princess Kate Middleton, and their three children: Prince George, Princess Charlotte, and Prince Louis.
In a letter accompanying the report, Will Bex, secretary and keeper of records, stated, “I’ve spent my first few months at the Duchy listening and learning; from colleagues, stakeholders and tenants across the estate. We are bringing positive change to the Duchy, and this comes in many forms.” This statement underscores the ongoing transformation within the Duchy aimed at enhancing its organizational strategy.
Significantly, Kensington Palace confirmed to Hello! Magazine that Prince William pays federal taxes on his Duchy earnings, including the substantial amount reported this year. Although specific tax figures are not disclosed, Ian Patrick, the Prince of Wales’ secretary, noted, “The Prince of Wales pays the highest rate of income tax.”
Comparatively, last year, Prince William received a surplus of £23.6 million (around $31.7 million) as his first payout as Duke of Cornwall. This upward trajectory reflects not only his growing financial landscape but also the overall wealth dynamics within the royal family. Earlier this year, it was reported that King Charles III’s net worth saw a remarkable increase of $40 million, with his estimated wealth now standing at £640 million (over $862 million), according to The Sunday Times.
It is essential to distinguish between the Duchy of Cornwall and the Sovereign Grant, which is allocated by the Crown Estate to manage property for the royal family. While the Sovereign Grant funds upkeep and staff costs, the Duchy of Cornwall directly supports William and his family.
This financial update matters now as it sheds light on the evolving role and responsibilities of Prince William as he navigates his position within the royal family. The implications of these earnings extend beyond mere numbers, indicating a shift towards a more transparent financial structure within the monarchy.
As this story develops, keep an eye on potential future announcements regarding the Duchy’s financial strategies and any impacts on royal family engagements. With William at the helm of the Duchy, the royal family’s financial future could take on new dimensions, aiming for sustainability and public support.
For the latest updates on royal finances and more, stay tuned. This financial reveal not only captures the public’s interest but also reinforces the significance of transparency within royal affairs.
