An eye watering figure...
The annual salary of the heir to the throne, Prince William, has been revealed in a new royal report.
Prince William received an eye watering $30 million from his first full year’s income from the Duchy of Cornwall estate, a title and estate he inherited when his father, King Charles, ascended the throne.
The Duchy of Cornwall is one of two royal duchies in England, the other being the Duchy of Lancaster. The eldest son of the reigning British monarch obtains possession of the duchy and the title of Duke of Cornwall at birth or when his parent succeeds to the throne.
The figures were revealed after the Duchy of Cornwall published its Integrated Annual Report yesterday, revealing a distributable surplus of £23.6 million ($30.4 million) for the 2023-2024 financial year, Prince William’s first full year as the Duke of Cornwall.
The sum covers the official, charitable and private expenses of Prince William, Kate Middleton and their three children.
People, an American weekly magazine, reports: “As a working member of the royal family, the Prince of Wales, 42, doesn’t receive a traditional income. Instead, his annual expenses are largely covered by the Duchy of Cornwall, an estate established by King Edward III in 1337 to provide funds for the heir to the throne. This vast estate, worth over $1 billion, spans 130,000 acres across 23 counties in England and Wales and includes land, farms, houses and other assets to support the heir and their family.
“Prince William is understood to pay income tax on the entire income he receives from the Duchy of Cornwall, after subtracting household expenses, which have not been specified.”
Basit Mahmood is editor of Left Foot Forward
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