Have you ever wondered exactly how much money the Prince of Wales is paid for his services to crown and country? Thanks to a new report, which also detailed other financial aspects of the royal family, we have a better idea of what Prince William makes now that he has taken over the title that his father held for so much of his life.
According to Page Six, the Duchy of Cornwall, which is the estate that Prince William inherited from King Charles III upon his ascension to the throne, "garnered a distributable surplus of £23.6 million ($30.4 million) from its investments, per its latest Integrated Annual Report." Now that does not mean that Prince William will get $30 million dollars, but that is the fund from which is money come from.
At this point, the Duchy of Cornwall is said to have an evaluation of $1 billion. And while Prince William did receive a payment after he took over the title and the estate from his father, following the death of Queen Elizabeth II, that was only a partial payment. Although the Duchy had a distributable amount of approximately $29 million during the year that the title of Prince of Wales transferred over to Prince William, he received around $7.4 million of that.
The Prince of Wales receives millions every year from the Duchy of Cornwall
It is said that the estate required an $8.67 million cut of the distributable profits, which would have likely gone to the prince, as funds to go towards, "working capital purposes." At the very least, in the first full year of Prince William being the Prince of Wales, we expect that he will take home at least $16.07 million based on the portion that he received for his first payment and the amount that the Duchy kept for his expenses.
Obviously, the amounts that the prince will receive likely vary every year based on the income of the Duchy and how much is available as distributable funds. But at the very least, it is clear that the Prince of Wales is making millions of dollars every year for his royal work.
Does the amount that the Duchy of Cornwall pays to the Prince of Wales and his family surprise you? What do you think of these funds being paid to the prince?