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Prince William’s annual salary revealed after receiving title change
By Sara Whitman,
23 hours ago
Prince William received a whopping $30 million income from his Duchy of Cornwall estate during the 2023-2024 financial year, multiple outlets report .
According to the reports, the Duchy of Cornwall — the estate William, 42, inherited from his father, King Charles III, when he ascended the throne in Sept. 2022 — garnered a distributable surplus of £23.6 million ($30.4 million) from its investments, per its latest Integrated Annual Report.
Along with the estate, William was given the Duke of Cornwall title.
The report also revealed William — an avid football fan — has been given the title of Patron of the Football Association. The title was previously held by his grandmother, Queen Elizabeth II.
The Duchy of Cornwall announced that Prince William made $30 million last year, per multiple reports. Getty Images The Duchy is an estate — valued at more than $1 billion — meant to fund the life of the heirs to the throne. Getty Images
This FA oversees England’s men’s and women’s professional, youth and disabled soccer teams.
Furthermore, he has been given authority over the Welsh Guards Charity and the Royal Cornwall Agricultural Association and was named president of the Victoria Cross and George Cross Association.
William gave up his title of president of Fields in Trust , however, to become a patron. Fields in Trust is an organization that protects parks and green spaces across the UK.
The estate covers Prince William and his family’s “official, charitable and private activities.” Getty Images This is the first year William has seen the full profit from the estate, since he inherited it midway through the 2022-2023 fiscal year. Getty Images
Officially, The Duchy is a private estate that covers William, Kate Middleton and their three children for their “official, charitable and private activities.”
The expansive estate is valued at more than $1 billion and was established in 1337 by King Edward III to provide funds for the heir to the throne for generations to come. Physically, it covers roughly 205 square miles of land across the United Kingdom, which includes over 20 counties.
According to the 2023 report , it is comprised of “arable and livestock farms, residential and commercial properties, as well as forests, rivers, quarries, and coastline.”
This year, Prince William was named Patron of the Football Association. Getty Images He was also named president of the Victoria Cross and George Cross Association. Getty Images
The Duchy is expected to be managed “in a way that is sustainable, financially viable and of meaningful value to the local community,” the report added.
The Duke of Cornwall voluntarily pays income tax on the annual revenue surplus he receives after he deducts business-related costs. The estate is exempt from corporation tax, as it is not a separate legal entity.
The 2023 – 2024 year marks the first time William and his family saw the full surplus of the estate.
William voluntarily pays income taxes on his income from The Duchy. UEFA via Getty Images Last year, he received just over $7.4 million. UK Press via Getty Images
Last year, The Duchy garnered about $29 million , though William only saw a portion of that because he inherited the title and estate halfway through the fiscal year.
Out of the $29 million, he brought home just over $7.4 million after the estate requested to keep more than $8.67 million of his cut for “working capital purposes.”
King Charles, meanwhile, snagged a $14.225 million payday.
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