Prince William received a handsome first salary thanks to the Duchy of Cornwall. On June 29, as every year, the palace published the annual accounts of the British monarchy. At the same time, the Duchy has also released its statement of accounts detailing the Prince of Wales’s first earnings from the estate he inherited from his father Charles after the death of his famous grandmother.
The heir to the throne has netted nearly £6million or almost €7million this year, Kensington said on Thursday. This amount corresponds to part of the profits made by the Duchy of Cornwall – in south-west England – in the past financial year between 2022 and 2023.
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Prince William received “only” £6million of the reported profit of £24million as he only inherited the duchy later in the year following Elizabeth II’s death in September 2022. He could have gotten double that, just over £12million, but at this particular time of royal transition it was decided that the Duchy should keep part of the profits as ‘working capital’ for the day-to-day management of the domain.
A handsome salary for big expenses
Charles III, who ruled the duchy in the first half of the year prior to his accession, received almost £11m. Note that the Duchy’s balance sheet is in the green as it generated a million pounds more than last year. Logically, if the Duchy continues to do well, Prince William should be paid more than £20m next year.
A tidy sum that makes up the bulk of Prince William’s income and continues to cover his personal expenses but most importantly his busy public life with his wife Kate Middleton – who is the Duchess of Cornwall – and their three children, Prince George and Princess Charlotte will and Prince Louis (10, 9 and 5).
I am committed to fighting climate change.
How hello! reported, the Prince of Wales paid tribute to his father in the foreword to the Duchy’s annual report, recalling how much he left an “indelible mark”.
“I am committed to the fight against climate change and am proud of the domain’s efforts to contribute to this challenge. “If we can also help address social challenges like mental health and homelessness, I feel my tenure as Duke has been worthwhile,” said the 41-year-old Briton, extending his father’s historic commitment to preservation the environment while adding his own struggles to it.