Prince William’s position as Prince of Wales is not only a major royal responsibility—it also comes with substantial financial backing.
A report released in June 2025 revealed that the future king received nearly $30 million in income during his second year as Duke of Cornwall.
The funds come from the Duchy of Cornwall, the historic estate Prince William inherited in 2022 when his father, King Charles III, ascended the throne. Established in 1337 by King Edward III, the Duchy was created to financially support the heir to the British throne.
Inside the Duchy of Cornwall’s Massive Wealth
According to the Duchy of Cornwall’s Integrated Annual Report for 2025, the estate recorded a distributable surplus of £22.9 million (about $30.9 million) for the 2024–2025 financial year. The money is used to cover the official duties, charitable work, and private living expenses of Prince William, Princess Kate, and their three children—Prince George, Princess Charlotte, and Prince Louis.
Unlike traditional salaried workers, senior royals do not earn a standard paycheck. Instead, the Prince of Wales’ expenses are largely funded by the Duchy, which is valued at over $1 billion and spans around 130,000 acres across 23 counties in England and Wales. The estate includes farmland, residential properties, commercial developments, and other income-generating assets.
When King Charles became monarch in 2022, Prince William automatically assumed the title of Duke of Cornwall and took over management of the vast estate. Royal sources say William has taken the responsibility seriously, “fully immersing himself” in the role following the death of Queen Elizabeth II.
Prince William is understood to pay income tax on the full amount he receives from the Duchy, after deducting household expenses, though exact figures for those costs have not been disclosed.
A Hands-On Approach and Expanding Duties
Since inheriting the estate, the Prince of Wales has made several visits across Duchy properties. In May 2024, he spent the night in Newquay while visiting an innovative Duchy housing project aimed at tackling homelessness.
Reports from his first full year in the role also highlighted changes in his royal patronages. A lifelong football fan, Prince William became patron of The Football Association, a role previously held by his grandmother, Queen Elizabeth II. He had served as FA president since 2006, with the change reflecting his elevated status as Prince of Wales.
He has also taken on new roles with the Welsh Guards Charity and the Royal Cornwall Agricultural Association, become president of the Victoria Cross and George Cross Association, and transitioned from president to patron of Fields in Trust.
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