Prince William's first year as Duke of Cornwall: A $30 million windfall

Prince William, the Prince of Wales, received $30 million from his first full year's income from the Duchy of Cornwall estate. This sum covers his official, charitable, and private expenses.

The Duchy of Cornwall published its Integrated Annual Report, revealing a distributable surplus of £23.6 million ($30.4 million) for the 2023-2024 financial year. This vast estate, worth over $1 billion, spans 130,000 acres across 23 counties in England and Wales.

As a working member of the royal family, Prince William doesn't receive a traditional income. Instead, his annual expenses are largely covered by the Duchy of Cornwall. He is understood to pay income tax on the entire income he receives from the Duchy of Cornwall, after subtracting household expenses.

Prince William has been fully immersing himself in his role as head of the Duchy of Cornwall since inheriting it. He has made several stops in the estate, including an overnight trip to visit the site of the Duchy of Cornwall's innovative housing project aimed at addressing homelessness.

The report also highlighted updates to William's patronages, including a shift in his role at The Football Association. He will now serve as the patron of the FA, a position formerly held by his grandmother, Queen Elizabeth.