The royal paycheck breakdown
Prince William is not clocking in at 9 AM or checking payroll spreadsheets, yet his role as Prince of Wales comes with a serious money flow. According to the June 2025 Royal Report, his second year overseeing the Duchy of Cornwall earned him around £22.9 million ($30.9 million) for the 2024-2025 financial year. The Duchy of Cornwall was inherited by Prince William back in 2022, when King Charles ascended to the throne.
The sum covers the official, charitable, and private expenses of Prince Williams, Kate Middleton, and their three children. The Duchy of Cornwall is also a historic powerhouse estate dating back to 1337, created to fund whoever is next in line. We are talking about an empire worth over $1 billion, comprising farms, homes, land, and assets spanning 130,000 acres.
What the money actually pays for
As a working royal, he does not technically “earn” a salary. Instead, the Duchy bankrolls his lifestyle. Reports say he pays income tax on the amount he keeps after deducting household expenses. From state duties to charity visits, this money is meant to support the entire Prince of Wales operation. Established by King Edward III in 1337, the Duchy of Cornwall provides funds for the heir to the throne and their family.
“The Duchy is focused on supporting continuous improvement through becoming a net zero estate by the end of 2032; working with partners to address homelessness in the areas in which it operates; becoming an exemplary estate for mental health provision for rural tenants and staff; and maintaining real value across the estate for its communities whilst growing income,” the report said.
The new era for the Duchy of Cornwall
Since King Charles took the throne, Prince William stepped into the Duke of Cornwall title in 2022. A source once said he was “fully immersing himself” in running the estate, which includes visits like his overnight trip in May 2024 to Newquay, where he checked on a housing project tackling homelessness.
His résumé has also grown, becoming the patron of The Football Association, a title once held by Queen Elizabeth, and taking on roles with the Welsh Guards Charity, the Royal Cornwall Agricultural Association, and more. Looking into the future, the 2025 report confirms the Duchy is aiming to become a net-zero estate by 2032, meaning the future of royalty might be looking wealthier than ever.