Prince William’s annual salary has been revealed in a new royal report

Prince William received a staggering $30 million of his first full year’s income from the Duchy of Cornwall estate, the title and property he inherited when his father, King Charles, ascended the throne.

The Duchy of Cornwall published its Integrated Annual Report on Thursday, July 24 (local time), revealing a distributable surplus of £23.6 million ($30.4 million) for the 2023-24 financial year, the first full year of To Prince William as Duke of Cornwall. This amount covers the official, charitable and private expenses of Prince William, Kate Middleton and their three children.

As an active member of the royal family, the 42-year-old Prince of Wales does not receive a traditional income. Instead, his annual expenses are largely covered by the Duchy of Cornwall, an estate established by King Edward III in 1337 to provide funds for the heir to the throne. This vast estate, worth more than $1 billion, spans 130,000 acres in 23 counties in England and Wales and includes land, farms, houses and other assets to support his heir and their family.

William is understood to pay income tax on the entire income he receives from the Duchy of Cornwall, after deducting household expenses, which have not been specified.

When King Charles ascended the throne in 2022, Prince William became the new Duke of Cornwall and head of the estate.

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Following Queen Elizabeth’s death, a royal source said Prince William was “fully immersing himself” in his role as head of the Duchy of Cornwall. The Prince of Wales has made several stops at the property since inheriting it, including an overnight trip in May when he visited the site of the Duchy of Cornwall’s innovative housing project to tackle homelessness in Newquay.

The report also highlighted updates to William’s patronages, including a change in his role at the Football Association.

A dedicated football fan, William will now serve as patron of the FA, a position previously held by his grandmother, Queen Elizabeth. William had been chairman of the FA since 2006. The change reflects his leadership role as Prince of Wales.

In addition, William will take up new patronages with the Welsh Guards Charity and the Royal Cornwall Agricultural Association, as well as becoming President of the Victoria Cross and George Cross Association. He will also move from chairman to patron of Fields in Trust.