Prince William, who faced several difficulties at the start of 2024 with King Charles and Kate Middleton’s cancer diagnoses, is set to embark on a new project.
Prince William has some noteworthy financial news to go along with the statement. He received a noteworthy $30 million for the fiscal year 2023–2024 from the Duchy of Cornwall, which he inherited from King Charles III. The Duchy’s $30.4 million surplus for the year was disclosed in its Integrated Annual Report, underscoring its continued performance.
Prince William, a passionate soccer enthusiast, has been appointed Patron of the Football Association (FA), a position that was formerly occupied by Queen Elizabeth II, in addition to his new financial obligations. Prince William, Catherine, and their three kids will be able to pay for their official, philanthropic, and personal costs with the help of this considerable income.
Prince William and Income Tax
Prince William works for the Royal Family, but he does not receive a regular salary. Instead, he receives financial support from the Duchy of Cornwall, a historic estate established by King Edward III in 1337. This massive estate, estimated to be valued at over $1 billion, is made up of farms, land, and other assets intended to support the heir apparent and their family. It spans 130,000 acres across 23 counties in England and Wales.
Although William must pay income tax on his Duchy of Cornwall income, he is eligible to deduct business-related expenses. In the most recent fiscal year, the estate made $29 million, although William’s income only accounts for a portion of this amount because he inherited the estate midway through the year.
William invested almost $7.4 million of his share in a home. The estate also retained more than $8.67 million of his portion for “working capital purposes,” as reported by Page Six.
What about King Charles and Prince Harry’s Wages?
Recently, King Charles was awarded $14.225 million. On the other hand, Prince Harry will get an astounding $8.5 million on September 15th in honor of his 40th birthday. This amount is from a trust fund worth $90 million that his late great-grandmother, The Queen Mother, set up prior to her dying in 2002. According to reports, Harry will reportedly receive more money than Prince William.
