Prince William has been officially designated for the future throne. His flourishing financial and political career has earned him immense love and trust from the king, and he is expected to become the highest-paid king in history

Prince William received a whopping $30 million income from his Duchy of Cornwall estate during the 2023-2024 financial year, multiple outlets report.

According to reports, the Duchy of Cornwall, inherited by William in September 2022, earned a £23.6 million ($30.4 million) surplus from investments in its latest Annual Report.

Along with the estate, William was given the Duke of Cornwall title.

The report also revealed William — an avid football fan — has been given the title of Patron of the Football Association. The title was previously held by his grandmother, Queen Elizabeth II.

This FA oversees England’s men’s and women’s professional, youth and disabled soccer teams.

Furthermore, he has been given authority over the Welsh Guards Charity and the Royal Cornwall Agricultural Association and was named president of the Victoria Cross and George Cross Association.

The Victoria Cross and George Cross Association gives the highest military honor to civilians and military personnel.

William gave up his title of president of Fields in Trust, however, to become a patron. Fields in Trust is an organization that protects parks and green spaces across the UK.

Officially, The Duchy is a private estate that covers William, Kate Middleton and their three children for their “official, charitable and private activities.”

The expansive estate is valued at more than $1 billion and was established in 1337 by King Edward III to provide funds for the heir to the throne for generations to come. Physically, it covers roughly 205 square miles of land across the United Kingdom, which includes over 20 counties.

According to the 2023 report, it is comprised of “arable and livestock farms, residential and commercial properties, as well as forests, rivers, quarries, and coastline.”

The Duchy is expected to be managed “in a way that is sustainable, financially viable and of meaningful value to the local community,” the report added.

The Duke of Cornwall voluntarily pays income tax on the annual revenue surplus he receives after he deducts business-related costs. The estate is exempt from corporation tax, as it is not a separate legal entity.

The 2023 – 2024 year marks the first time William and his family saw the full surplus of the estate.

Last year, The Duchy garnered about $29 million, though William only saw a portion of that because he inherited the title and estate halfway through the fiscal year.

Out of the $29 million, he brought home just over $7.4 million after the estate requested to keep more than $8.67 million of his cut for “working capital purposes.”

King Charles, meanwhile, snagged a $14.225 million payday.

Prince William’s $30 million income from the Duchy of Cornwall estate in the 2023-2024 financial year has sparked curiosity and interest among royal watchers and financial analysts alike. The surplus of £23.6 million ($30.4 million) generated by the estate highlights the financial success and stability of the historic property inherited by William in 2022.Aside from his financial success, William’s newfound roles and responsibilities as the Duke of Cornwall and Patron of the Football Association have added a new dimension to his public profile. His appointment as Patron of the Football Association, taking over from Queen Elizabeth II, underscores his passion for sports and commitment to supporting English soccer teams across different levels.In addition to his football-related duties, William’s involvement with the Welsh Guards Charity, the Royal Cornwall Agricultural Association, and his presidency of the Victoria Cross and George Cross Association showcase his diverse interests and dedication to charitable initiatives. These roles not only honor his family’s legacy but also highlight his commitment to serving the community and supporting important causes.As the head of the Duchy of Cornwall, William plays a crucial role in managing the extensive estate that covers various types of land and properties across the UK. The estate’s sustainable and community-focused management approach reflects William’s dedication to preserving the heritage and value of the Duchy for future generations.The financial aspects of the Duchy, including the voluntary income tax payments made by the Duke of Cornwall, shed light on the unique financial structure and responsibilities associated with the estate. The exemption from corporation tax and the careful management of the surplus income demonstrate the estate’s commitment to long-term financial viability and support for the local community.With each passing year, Prince William’s involvement with the Duchy of Cornwall and his expanding portfolio of responsibilities continue to shape his public image and contributions to society. As he navigates his roles as a royal, a philanthropist, and a leader, William’s journey offers insights into the complexities and opportunities that come with his position and status.

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Source: Tampa Bay Times

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