Prince William Just Made Bank In His First Year on a $30 Million Royal Salary

It’s been nearly two years since Prince William became the head of the Duchy of Cornwall, the estate that traditionally goes to the heir to the British throne, and on Wednesday, the Duchy announced that William made about 30 million dollars in income. In their Integrated Annual Report, they reported a distributable surplus of 23.6 million British pounds (30.4 million dollars) for the 2023–2024 financial year.

In an introductory note, Duchy secretary Alastair Martin gave insight into William’s job description as the head of the estate. “Over the years, I have had the privilege of introducing the 25th Duke to the Duchy, with visits to the estate to meet tenants, and more recently as he and his advisers attended meetings of various Duchy Committees,” he wrote. “This year has been the first full year with the ‘new team’ in post, and it has been a busy year.”

In the report, which was themed “Sustainable Stewardship,” the Duchy also shared its progress towards some of the goals that William set when he took over management of the estate, including his plans to address rising homelessness in Cornwall. In February 2024, the Duchy announced plans to build a 24-unit housing complex in the Newquay town of Nansledan and in the annual report, said it has authorized expenses of up to 2.1 million British pounds (2.72 million dollars) on the project.

Before King Charles III ascended to the throne, he was the head of the Duchy of Cornwall, and under his supervision, the estate became an economic powerhouse with investments worth approximately one billion dollars. Since 1337, the Duchy has served as a source of income for the heir to the throne to fund his lifestyle and the official duties that aren’t covered by the Sovereign Grant from the government.

During their time as senior royals working during the reign of the late Queen Elizabeth II, both William and Princess Kate were funded in part by the income from the Duchy. (Prince Harry and Meghan Markle were also funded in the same way until they made their royal exit in March 2020.) The fiscal year that began in April 2023 and ended in March 2024 marked William’s first full year drawing on the Duchy’s income.

Thursday’s announcement came alongside a series of public disclosures related to the royal family’s finances, including annual reports from the Sovereign Grant, the Royal Collection Trust, and the Duchy of Lancaster, the estate that funds the king and Queen Camilla. This year’s financial statements were released on a delayed timeline due to the recent U.K. Parliamentary elections.