As a dedicated fan of the British Royal Family, I cannot help but be in awe of Prince William’s extraordinary financial situation. The Prince of Wales’ salary is truly fit for a prince, with his first full year’s income from the Duchy of Cornwall estate reaching an astounding $31 million!
Prince William’s salary is, quite literally, fit for a prince.
In his initial year as the ruler of the Duchy of Cornwall estate, King Charles III’s eldest son, The Prince of Wales, earned an impressive $31 million. (This wealth transferred to him upon his father’s ascension to the throne.)
William received a remarkable £24 million income from the Duchy’s surpluses, as stated in the Annual Report released on July 24th.
Alastair Martin, who serves as both the Secretary and Archivist, remarked that the estate achieved a remarkable revenue during the previous year under Charles’ leadership. Although he was not anticipating a significant rise upon the 42-year-old’s assumption of responsibility, Martin remains optimistic that any future growth will be minimal.
“The excess income we’re experiencing now won’t persist into the 2023/24 fiscal year. Instead, we anticipate income to revert to normal levels. Additionally, we’ll face substantial cost hikes and require extensive funding for necessary repairs.”
William, being an active member of the royal family, doesn’t earn a typical salary. Instead, the Duchy of Cornwall takes care of his yearly expenses for him. The 25th Duke of Cornwall, who is father to Prince George (11), Princess Charlotte (9), and Prince Louis (6) with Kate Middleton, does indeed pay income taxes, although the exact amount isn’t mentioned in the report.
Founded in 1337 by Edward III specifically for his son Prince Edward, this private estate has been preserving the substantial assets, valued over a billion dollars, designated for the heir to the British throne. Spanning approximately 130,000 acres across twenty English counties, the estate consists of various types of property such as farmlands, residences, forests, rivers, and more.
After Queen Elizabeth II passed away, Charles took the throne and immediately focused on William’s new responsibilities – among them becoming the Prince of Wales – and the management of their monarchy’s future.
In his initial address following Elizabeth’s passing in September 2022, the 75-year-old declared: “William now inherits the Scottish titles that hold great significance for me. He becomes the new Duke of Cornwall and assumes the duties related to the Duchy of Cornwall, responsibilities I have shouldered for over fifty years.”
“Catherine by his side,” he went on, “our future Prince and Princess of Wales will keep igniting and guiding our country’s discussions, ensuring that those who have been sidelined receive much-needed assistance.”
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2024-07-24 19:51