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Handout
Prince William’s private income from the Duchy of Cornwall amounts to £6 million (NZD $11m).
Prince William’s substantial private income has been revealed, as the Duchy of Cornwall’s annual report shows that the 41-year-old receives £6 million (NZD$11m) from his dukedom.
William inherited the estate following the death of his grandmother, the late Queen Elizabeth II, and when his father King Charles ascended the throne in September last year.
The Prince of Wales is now entitled to its surplus profits every year.
According to the report, the Duchy of Cornwall saw a bump in profits by £1million (NZD$2m) more than the previous financial year, recording net profits of £24.048 million ($49.6m) from 2022 to 2023.
King Charles is entitled to around £16.9 million (NZD$35m) of the Duchy’s surplus, while Prince William will receive £18.9 (NZD$39.3m), as he spent only six months of the last financial year in his role as the Duke of Cornwall, Kensington Palace says.
With William gaining his title halfway through the financial year, he is not entitled to its full lump sum. Otherwise, he would be entitled to inherit the entire £24.048m profit as his private income.
William praised his father King Charles in the foreword to the Duchy’s financial accounts, praising his “indelible mark” on the Duchy.
“I am committed to the cause of tackling climate change and I am proud of the estate’s efforts to contribute to this challenge,” William said. “If we can also help respond to social challenges such as mental health and homelessness, I will feel my term as Duke has been worthwhile.”
Next year, William is expected to receive the Duchy’s full profit.
The revelation of William’s salary comes several days after he revealed his new UK-wide programme to end homelessness.
“We believe that by working together it is possible to make homelessness rare, brief and unrepeated. Because whatever ‘home’ means to you, we believe that in a modern and progressive society, everyone should have a safe and secure home to call their own,” William wrote in an Instagram post.
“Through Homewards, I want to make this a reality and over the next five years, give people across the UK hope that homelessness can be prevented when we collaborate.”
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