Prince William’s finances are in good shape, it appears. According to the annual Integrated Impact Report for the prince’s Duchy of Cornwall, the estate has generated a distributable surplus of £22.9 million, which is equivalent to about $30.9 million US. That’s a slight decrease from last year, when the estate reported a distributable surplus of 23.6 million British pounds.
This year marks William’s second as head of the Duchy of Cornwall, which is typically passed on to the heir to the throne. King Charles III was the previous head of the estate, which, per People, includes houses, farms, land and other assets across 130,000 acres spanning 23 counties in England and Wales. The Duchy, which was established by King Edward III in 1337, is worth over $1 billion today, and was passed on to Prince William after Queen Elizabeth died in 2022 and Charles assumed the throne.
William doesn't earn a traditional salary for his royal duties, so it’s up to the Duchy to cover the private, official, and charitable expenses for the prince, wife Kate Middleton, and children Princess Charlotte, Prince Louis, and Prince George, the latter of whom is expected to inherit the Duchy when his father eventually becomes king.
According to its annual report, the past year was “one of both change and evolution for the Duchy, particularly in its organizational strategy to focus on positive impact for people, places. and planet.”
“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.”
Progress toward its net zero goal includes the creation of “400 hectares of new habitat through the year, working closely with partners such as the South West Peatland Partnership to restore and reinvigorate the peatlands of Dartmoor, and the efforts of its seven focus farms in innovating their farming practices, with one farm now achieving net zero status,” the report reads.
The Duchy has also continued to address homelessness in its communities, including construction projects to provide “homes for individuals with wrap-around care” as well as a proposed new development at South East Faversham in Kent, which is expected deliver nearly 1,000 new affordable homes.
