Prince William received a distributable surplus equivalent to $30.9 million (£22.9 million) during the 2024 to 2025 financial year, from the Duchy of Cornwall, according to reports, highlighting the scale of income generated by the estate he inherited when his father became king.
The Duchy of Cornwall released its Integrated Annual Report earlier this year, cited by People, confirming a surplus of £22.9 million for the most recent financial period. The figure marks Prince William‘s second full year as Duke of Cornwall and represents the funds used to support the official, charitable and private expenses of the Prince and Princess of Wales and their three children.
Unlike a conventional salary, the Prince of Wales does not receive a wage for his royal role. Instead, the Duchy of Cornwall provides the financial backing that enables him to carry out his duties as heir to the throne, while also covering the costs of maintaining his household and supporting his work.
What the Duchy of Cornwall Income Represents
The Duchy of Cornwall is both a title and an extensive private estate created in 1337 by King Edward III to generate income for the monarch’s eldest son and heir. When King Charles acceded to the throne in 2022, Prince William automatically became Duke of Cornwall and assumed responsibility for managing the estate.
The estate spans more than 130,000 acres across 23 counties in England and Wales, the Duchy is valued at over $1 billion and remains one of the most significant landed estates in the country.
Second Year as Duke of Cornwall
Prince William inherited the title and estate automatically when King Charles ascended the throne following the death of Queen Elizabeth II in September 2022. Royal sources previously noted that the Prince of Wales was ‘fully immersing himself’ in the role, a claim reflected in his growing involvement with Duchy operations.
During the past year, Prince William has undertaken multiple visits to Duchy sites, including an overnight trip to Cornwall in May 2024. The visit focused on the estate’s innovative housing project in Newquay, which aims to tackle homelessness through long term accommodation and community support initiatives.
Expanding Public Role and Patronages
Alongside managing the Duchy, Prince William’s public responsibilities have continued to expand. The report highlights several updates to his patronages during his first and second years as Duke of Cornwall, reflecting his evolving role as heir to the throne.
A lifelong football supporter, Prince William became patron of The Football Association, a position previously held by Queen Elizabeth II. He had served as FA president since 2006, and the transition reflects his senior standing within the royal family.
He also assumed new patronages with the Welsh Guards Charity and the Royal Cornwall Agricultural Association, while becoming president of the Victoria Cross and George Cross Association. In addition, he transitioned from president to patron of Fields in Trust, a charity dedicated to protecting green spaces for public use.
As Prince William continues to balance his public duties with stewardship of the Duchy, the latest figures underline the financial scale of the role and the responsibility attached to managing one of Britain’s oldest royal estates.
Originally published on IBTimes UK
