King Charles III takes a back seat as Prince William earns THIS annual salary | World news

Prince William earned $30 million from his Duchy of Cornwall fortune in the 2023-2024 financial year. King Charles III, on the other hand, received a payday of $14.225 million.

According to its latest integrated annual report, this huge income comes from a £23.6m ($30.4m) distributable surplus generated from property investment.

The Duchy of Cornwall, which the Prince of Wales inherited from his father, King Charles III, when he ascended the throne in September 2022, has proven to be a lucrative asset. Along with the estate, William also received the title of Duke of Cornwall.

The estate, established in 1337 by King Edward III to provide financial support for the heir to the throne, is valued at more than $1 billion and covers approximately 205 square miles across more than 20 UK counties. It includes a diverse range of assets such as arable and livestock farms, residential and commercial properties, forests, rivers, quarries and coastlines.

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Surplus property of Prince William Duchy of Cornwall is growing

The 2023-24 financial year marks the first full year that William and his family have received the entire surplus of the estate. The duchy generated about $29 million in the previous year, but William only received a fraction of that amount because he inherited the fortune midway through the fiscal year. Of the $29 million, he took home just over $7.4 million after the estate withheld more than $8.67 million for “working capital.”

The Duchy’s income supports William, Kate Middleton and their three children for their “official, charitable and private activities”.

The 2023 report details that the Duchy comprises “arable and livestock farms, residential and commercial properties, as well as forests, rivers, quarries and coastline”. It manages to be “sustainable, financially viable and of significant value to the local community” and the property is exempt from corporation tax.

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Prince William has been named Patron of the Football Association, a title previously held by his grandmother, Queen Elizabeth II. This organization oversees professional, youth and disability football teams in England. In addition, William now has authority over the Welsh Guards Charity and the Royal Cornwall Agricultural Association.

He was also appointed President of the Victoria Cross and George Cross Association, which awards the highest military honors to both civilians and military personnel.