The Wealth and Responsibilities of Prince William: A Look at His Duchy of Cornwall Income and Duties
Prince William, as the Prince of Wales, benefits from substantial financial resources, with a recent report revealing a $30 million income from the Duchy of Cornwall estate for his second year. The Duchy of Cornwall, established in 1337 by King Edward III to support the heir to the throne, provided a distributable surplus of £22.9 million ($30.9 million) for the 2024-2025 financial year, covering the official, charitable, and private expenses of Prince William, Kate Middleton, and their children.
As the Duke of Cornwall, Prince William's annual expenses are largely covered by the Duchy of Cornwall, a vast estate worth over $1 billion that spans 130,000 acres across 23 counties in England and Wales. Upon King Charles' ascension to the throne in 2022, Prince William inherited the title and estate, becoming the head of the estate and responsible for its management.
Prince William pays income tax on the entire income received from the Duchy of Cornwall after deducting household expenses. He has been actively involved in his role as head of the estate, making visits to various projects and assuming new patronages, including roles with The Football Association, Welsh Guards Charity, and the Royal Cornwall Agricultural Association. The Duchy of Cornwall aims to achieve a net zero estate by the end of 2032, as outlined in its 2025 Integrated Impact Report.