Following King Charles ascent to the throne, Prince William received a new title and, with it, a jaw-dropping pay rise.
He has had to take on a number of duties following the death of Queen Elizabeth II, and the royals have faced a number of difficulties in the past year.
Recent Revelations
The rise was revealed with the release of the Duchy of Cornwall’s annual report on Wednesday.
The Integrated Annual Report showed a substantial increase in both Prince William’s personal profits and the profit of the Duchy estate.
No Royal Salary?
The British Royals do not technically earn a salary through their work as Royals, although several undertake paid positions in various sectors.
Instead, Prince William will earn most of the money for his and his family’s expenses through the ‘surplus’ generated from the Duchy estate.
Massive Fortune
The Royals will not be strapped for cash anytime soon, as the Duchy of Cornwall estate is worth over $1 billion.
The estate is made up of a mixture of businesses, farmland, and properties that are sometimes rented out.
Father to Son Inheritance
Prince William inherited the estate from his father, the now-King of the United Kingdom Charles.
Along with the estate, it also grants William a new title, as the Duke of Cornwall.
Queen’s Soccer Title
Prince William also inherited another position of authority from the late Queen Elizabeth II.
As of her 2022 death, William took over the Queen’s duties as the Patron of the English Football Association (FA), having previously served as its president for almost 2 decades.
Tough Gig
As president of the FA, William may have felt duty-bound to support England in the final of the European Championships, which he attended earlier in July with his son, Prince George.
England went on to lose the game 2-1 to Spain, and their wait for another major international soccer trophy will now extend to 60 years after their last and only triumph in the 1966 World Cup.
Substantial Pay-Out
The surplus of the Duchy of Cornwall estate was substantial, as reported in the Integrated Annual Report on Wednesday.
Prince William and his family received £23.6 million pounds, around $30.4 million, in the fiscal year from 2023 to 2024.
Independent Income Source
The Duchy is not paid for by the taxpayer, and is instead managed by the royals and a team of over 150 staff.
The UK public fund what is called the Sovereign Grant through their taxes, which is due to rise from £86.3 million in 2024/25 to £132 million in 2025/26, an increase of over 50%.
Wealth Jump
The value of the Duchy of Cornwall estate jumped following William’s ascension as the Duke of Cornwall.
The estate surplus for the 2023/24 fiscal year was around $30.4 million whereas, under Charles’ stewardship in the previous year, the estate surplus was only $25 million.
