Royal family's financial reports reveal Prince William’s $7.5 Million Salary
Royal family dropped their yearly financial reports on Thursday, revealing Prince William‘s annual salary and King Charles III's expenses.
William as per the Duchy of Cornwall report receives nearly £6 million which amounts to approximately $7.5 million a year.
“The Duchy is a private estate that provides an income to The
Duke of Cornwall and his family to fund his official, charitable and private
activities,” a statement in the report reads.
"It is managed in
harmony with the natural environment and for the benefit of its local
communities so that it can be passed on with pride to the next
generation."
Kate Middleton's husband William was named the Duke
of Cornwall, a title that previously belonged to his father King Charles
III, in September 2022 when Charles assumed the throne as King following the
demise of Queen Elizabeth II.
According to the report, the duchy was established through King
Edward III’s Great Charter of 1337 to bequeath land and various assets to
his son, Prince Edward. “The land, property and other assets of the Duchy,
and the proceeds of any disposals of assets, are subject to the terms of the
original Charters and the Duchy of Cornwall Management Acts,” the statement
added.
“These govern the use of the Duchy’s assets for the
benefit of the present and future Dukes of Cornwall. The Prince of Wales, as
The Duke of Cornwall, is entitled to the annual net revenue surplus of the
Duchy.”
Such funds help William, who's the 25th Duke of Cornwall, cover
living expenses for his family with wife Princess Kate, including their
three children: Prince George, 9, Princess Charlotte, 8, and Prince Louis,
5.
King Charles’ household, according to Us Magazine, also
released its annual spending report on Thursday for the period between April
2022 to March 2023.
The royals, as per statement, spent a total
of $136 million to cover operating expenses and historic events, which had
risen five percent from the previous year’s budget.
While $108.9
million of the spending was covered by the Sovereign Grant — which is funded
by taxpayer dollars — the rest was taken from the King’s reserve funds.
The
memo — which was sent to Parliament on Thursday — also noted that the
capital expenditure had more than doubled from the previous year due to
“reserving based on the timing of capital works as part of the program.”
It also attributed significant portions of the cost to
Buckingham Palace renovations as well as preparing for monumental events
from the queen’s Platinum Jubilee to Charles’ coronation, according to Us
Magazine.
