Prince William is set to receive a substantial income following his acquisition of multiple royal titles this year. The Prince of Wales, who inherited the Duchy of Cornwall from his father King Charles, will receive an impressive $30 million from his first full year’s income for the 2023-2024 financial year.
This significant sum comes as part of the estate he inherited when Charles ascended to the throne, along with the Duke of Cornwall title. According to the Integrated Annual Report, the income covers the official, charitable, and private expenses of Prince William, Kate Middleton, and their three children.
Additionally, Prince William pays income tax on the entire income he receives from the Duchy of Cornwall, after subtracting unspecified household expenses. The report also revealed that Prince William has been appointed as Patron of the Football Association, a title previously held by his late grandmother, Queen Elizabeth. Although William has served as president of the FA since 2006, this change reflects his elevated role as Prince of Wales.
In addition to the Football Association title, Prince William is also taking on several other significant roles. He will assume responsibilities with the Welsh Guards Charity and the Royal Cornwall Agricultural Association. Furthermore, he will become president of the Victoria Cross and George Cross Association.
These new titles and responsibilities highlight Prince William’s expanding role within the royal family, underscoring his importance and growing influence as the Prince of Wales. The income from the Duchy of Cornwall not only supports his family’s expenses but also enables him to continue his charitable work and fulfill his duties as a senior royal.