Prince William will earn a whopping $30 million from the Duchy of Cornwall in 2023-2024. Outlet Report.
According to reports, the Duchy of Cornwall is land that William (42) inherited from his father, Charles III. Ascended to the throne The company had distributable surplus of £23.6 million ($30.4 million) from its investments in September 2022, according to its latest combined annual report.
Along with the lands, William was also granted the title of Duke of Cornwall.
In the report, William Avid soccer fan — was made Patron of the Football Association, a title previously held by his grandmother, Queen Elizabeth II.
The FA oversees England’s men’s and women’s professional, youth and disability football teams.
In addition, he was given authority over the Welsh Guards Benevolent Society and the Royal Cornish Agricultural Society, and was appointed president of the Victoria Cross and George Cross Societies.
of Victoria Cross and George Cross Society It bestows the highest military honor on civilians and military personnel.
William gave up the presidency Areas of TrustHowever, you cannot become a patron. Fields in Trust is an organisation that protects parks and green spaces across the UK.
Officially, the duchy is owned by William and Kate Middleton. Their three children For “public, charitable and private activities.”
This vast estate, estimated to be worth over $1 billion, was established in 1337 by Edward III to provide funds for the next generation of heirs to the throne. Physically, it covers approximately 205 square miles of land across England, including over 20 counties.
according to 2023 Reportit is made up of “arable land and livestock farms, residential and commercial areas, forests, rivers, quarries and coastlines.”
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The report added that the principality is expected to be managed “in a manner that is sustainable, financially viable and of meaningful value to the local community”.
The Duke of Cornwall voluntarily pays income tax on his annual surplus income after deducting business-related expenses. As the estate is not a separate legal entity, it is exempt from corporation tax.
2023-2024 will be the first year that William and his family will receive the entire surplus from their estate.
last year, The principality earned about $29 millionHowever, because William inherited his title and fortune in the middle of the year, he only received a portion of it.
He took home just over $7.4 million of the $29 million because the estate asked that more than $8.67 million of his share be retained for “working capital purposes.”
Meanwhile, King Charles received $14,225,000 in compensation.
