What Is Prince William's Salary? Duchy of Cornwall Reveals Royal Heirs' Annual Income As Duke of Cornwall

The Duchy of Cornwall has revealed Royal heir, Prince William‘s salary for his first full year as the Duke of Cornwall.

By Marita Pinto

Published on Jul 24, 2024 | 11:08 AM IST | 96.9K

Image Courtesy: Getty Images

Prince William received an enormous $30 million salary for his first full year from the Duchy of Cornwall estate. The Duchy of Cornwall, the estate responsible for overseeing the royal family's holdings throughout England, released the Integrated Annual Report.

What Is Prince William's Salary?

According to the report, William, 42, earned a surplus of £23.6 million from the foundation during his inaugural year as the Duke of Cornwall. Prince William assumed the role of Duke of Cornwall and became the estate's ruler after King Charles took the throne in 2022.

The 42-year-old Prince of Wales is a working member of the royal family and does not earn a regular salary. Rather, the Duchy of Cornwall pays the majority of his yearly costs.

Who created the Duchy of Cornwall?

King Edward III created the Duchy of Cornwall in 1337 as a means of supplying money for the heir apparent. At the moment, it looks after William and Kate Middleton, and their three kids, Prince George, 11, Princess Charlotte, 9, and Prince Louis, 6.

This enormous estate, which covers 130,000 acres in 23 counties in England and Wales and is valued at over $1 billion, consists of land, farms, homes, and other assets to sustain the heir and their family. It is assumed that William is required to pay income tax on the total amount of money he receives from the Duchy of Cornwall, less any unspecified home expenditures.

A royal insider told PEOPLE that Prince William had fully immersed himself in his duties as the head of the Duchy of Cornwall following the death of Queen Elizabeth. Since gaining possession of the estate, the Prince of Wales has visited it multiple times.

Prince William- Football Association's new patron

Updates regarding William's patronages were also addressed in the report, including a change in his position at The Football Association. As the FA's new patron, William, a devoted football fan, will take over his grandmother Queen Elizabeth's role. William had led the FA as its president since 2006. As the Prince of Wales, William now plays a more senior position.

ALSO READ: 'Doesn't Sound That Great': Keanu Reeves Reacts To Political Interpretation Of The Matrix’s 'Red Pill' Metaphor