Prince William’s eye-popping annual salary revealed in royal report
Global News
The Duchy of Cornwall has revealed Prince William's salary for 2023, which covers the 'official, charitable and private activities' of his family.
After his first full year as the Duke of Cornwall, Prince William earned over $42 million in 2023, according to a newly released royal report.
On Wednesday, the Integrated Annual Report from the Duchy of Cornwall revealed the distributable surplus from the estate, which is paid to the duke, totalled £23.6 million (C$42 million).
The amount is calculated before a voluntarily income tax, which the Duchy says Prince William has always opted to pay. Household expenses are also subtracted from the salary, though the amount is unclear.
The $42 million sum covers the “official, charitable and private activities” of Prince William, the Princess of Wales, Kate Middleton, and their three children, Prince George, Princess Charlotte and Prince Louis.
Prince William, 42, took over as the Duke of Cornwall after his father King Charles III ascended to the throne in 2022. The position is always given to the monarch’s eldest surviving son and heir to the throne — or in the case where there is no heir, the Duchy reverts back to the monarch.
The Duchy of Cornwall is a private estate consisting of around 52,450 hectares of land across 20 counties, mostly in the Southwest of England. The estate is managed by Prince William and His Majesty’s Treasury and has functioned since 1337 to provide funds for the heir to the throne.
Prince William is working to grow the estate’s income while maintaining its value, according to the report. The royal also hopes to lower the estate’s environmental footprint and make it net zero by the year 2032, as well as “to address the homelessness challenge in Cornwall” through associated charities.
The report maintains the Duchy is “pleased” to have garnered the $42 million distributable surplus while spending a “record amount” on property repairs and maintenance, and investments in staffing and sustainability efforts.
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