Prince William's Annual Salary Revealed After Inheriting Duchy of Cornwall

In the fiscal year 2023-2024, Prince William received a substantial $30.4 million from the Duchy of Cornwall estate, according to People. This marks his first full year of income as the Duke of Cornwall, following King Charles III's ascension to the throne in September 2022. The figure was released in the Duchy of Cornwall’s Integrated Annual Report, published on July 24.

Established by King Edward III in 1337 to provide financial support for the heir to the throne, the Duchy of Cornwall spans 23 counties, primarily in the south-west of England and covering around 130,000 acres. The estate, valued at over $1 billion, includes arable and livestock farms, residential and commercial properties, forests, rivers, quarries, and coastline, according to 2023 report. The total earnings mentioned in this year's also cover the "official, charitable, and private activities" of Prince William, Kate Middleton, and their three children.

While William is the heir to the British throne and does not draw a traditional salary, he does receive the surplus profits from the Duchy of Cornwall estate. Notably, he is not exempt from paying taxes, although the exact amount was not disclosed in the report.

Beyond his financial duties, Prince William has been newly titled the Patron of the Football Association, overseeing England’s men’s, women’s, professional, youth, and disabled soccer teams—a title previously held by his grandmother, Queen Elizabeth II. Additionally, he has taken roles such as overseeing the Welsh Guards Charity, the Royal Cornwall Agricultural Association, and serving as the president of the Victoria Cross and George Cross Association.

Kensington Palace is also on the lookout for a new assistant private secretary for Wales and the United Kingdom, with job applications closing on July 19.

Vox has covered all the ways the royal family makes money: