Huge surplus

Prince William’s annual salary revealed

Prince William can look forward to a handsome income. His duchy generated a surplus last year.

(Bild: APA/AFP/POOL/Yui Mok)

Prince William has made a whopping surplus in his first full year as heir to the Duchy of Cornwall, which he inherited when his father, King Charles, ascended the throne.

The Duchy of Cornwall's annual report for the financial year 2023-2024 shows a distributable surplus of 23.6 million pounds (around 28 million euros), which covers the expenses of Prince William (42), Princess Kate (42) and their three children.

The Prince of Wales does not receive a traditional income; his expenses are mainly covered by the Duchy of Cornwall, an estate worth over 900 million euros, which was founded in 1337 to financially support the heir to the throne.

Prince William and Princess Kate with their children George and Charlotte.

(Bild: Royalfoto / Action Press / picturedesk.com)

The Crown Estate also took in more
The financial report of King Charles and Queen Camilla was also published this week and brought good news for the royals.

According to the British news agency PA, the annual financial report of the royal family shows that the amount due to King Charles III (75) and his family for the performance of their duties has increased by 45 million pounds to 130 million pounds (around 155 million euros).

The background to this is that the income from the so-called "Crown Estate" has risen sharply. This is a portfolio of land and real estate holdings as well as the rights to the economic use of the continental shelf around the British coast. This income feeds the pot known as the "Sovereign Grant", which the British royals use to keep their residences in good condition and finance official trips abroad, for example.

Enormous sum from offshore wind farms
The expansion of offshore wind farms in the North Sea in particular has recently brought in enormous sums. The proportion earmarked for the royals was therefore recently reduced to twelve percent. Nevertheless, the amount available to them is increasing.

According to the royal family, the additional money will primarily go towards the renovation of Buckingham Palace, which has been ongoing for years. Two new AgustaWestland AW139s helicopters are also on the shopping list for this fiscal year, which the royals intend to use to travel to their numerous official appointments. They are to replace two ageing Sikorsky helicopters.

Coronation for 950,000 euros
In addition to the running costs, there were several larger items last year. The coronation, for example, cost the palace 800,000 pounds (around 950,000 euros) - not including the cost of police security and military participation.

Trips abroad also had an impact: the most expensive for British taxpayers was the royal couple's state visit to Kenya. Charter flights and other expenses amounted to more than 166,000 pounds (just under 200,000 euros).