New insights into the finances of Prince William reveal that his earnings for the 2024-2025 financial year amounted to £22.9 million (approximately $30.8 million). This figure was disclosed in the latest Duchy of Cornwall Integrated Annual Report, which details the financial performance of the estate that supports the heir to the British throne.
As the Duke of Cornwall, a title he assumed following the ascension of his father, King Charles III, in 2022, Prince William’s income sources are distinct from typical salaries. The Duchy of Cornwall, established in 1337 by King Edward III, generates income that covers both charitable and personal expenses for William, his wife Princess Kate Middleton, and their three children, Prince George, Princess Charlotte, and Prince Louis.
Financial Breakdown and Tax Obligations
The annual report indicated that the distributable surplus for the Duke and his family in the previous financial year was £23.6 million (around $31.7 million). This reflects a slight decrease from the current year’s reported figures, but it continues to indicate a robust financial position.
According to Kensington Palace, William pays federal taxes on his Duchy income, although specific details regarding his tax obligations remain undisclosed. Ian Patrick, the Prince of Wales’ secretary, confirmed that “the Prince of Wales pays the highest rate of income tax,” underscoring his fiscal responsibilities.
In addition to his Duchy income, the financial landscape for the royal family includes the Sovereign Grant, which derives from the Crown Estate. This funding is allocated for the upkeep of royal properties and staff salaries rather than being distributed directly to family members. The Duchy of Lancaster serves as a separate financial trust specifically for the monarch, currently Charles III.
Contextual Financial Landscape
The financial performance of the British royal family has garnered media attention, particularly regarding King Charles III‘s net worth, which is estimated to have increased by $40 million to approximately £640 million (over $862 million), as reported by The Sunday Times in May 2025. The annual “Rich List” highlights the wealth of high-profile individuals in the UK, offering a glimpse into the financial status of the monarchy amidst broader economic trends.
The report from the Duchy of Cornwall, alongside insights from royal representatives, paints a comprehensive picture of how Prince William’s finances operate within the established royal framework. While his income stems from historical estates, the modern implications of such wealth continue to attract scrutiny and public interest, reflecting both the responsibilities and privileges associated with royal life.
As the royal family navigates its role in contemporary society, the financial disclosures serve to inform the public about the mechanisms that support them, ensuring transparency in their fiscal practices while upholding traditions that have persisted for centuries.
