Prince William became the Duke of Cornwall as soon as his grandmother, Queen Elizabeth II, died. He inherited the title from his own father, King Charles III.
Discover our latest podcast
Being a Prince as well as a Duke is a lot of work, as we’ve seen recently with his many commitments taking him all over the country. But the titles also bring in a crazy amount of revenue!
The Duchy of Cornwall has proven very profitable for Prince William this year. His salary for the past year has just been announced but it is nothing compared to what he could earn next year!
Prince William’s massive salary
Since his grandmother passed away on 8 September 2022, Prince William has inherited the Duchy of Cornwall. The land was passed over from his father as he became King.
Prince William immediately stepped into the role and recently, he announced that he has big plans for the Duchy. Prince William has understood that having a Duchy means a lot of work but it also means access to a lot of money.
As The Independent reports, Prince William is ‘entitled’ to the Duchy’s ‘surplus profits every year.’
Since Prince William has stepped into the role in September 2022, he cannot have access to the whole amount for this year but he is still getting a sweet £6million.
It is reported that the Duchy ‘generated record profits of £24.048 million in 2022-23’ but since Prince William hasn’t been Duke of Cornwall for a full year yet, he cannot earn the full £24million.
This means that next year, once he has worked as Duke of Cornwall for over a year, Prince William will get a raise! Indeed, he could be making over £20million from the surplus revenue coming for the Duchy.
Read more:Prince William inherits this ‘unusual’ property as the Prince of Wales
Prince William is getting backlash and it's for more than one thing
While every job is entitled to compensation, the news of his salary as Duke of Cornwall doesn't come at the best time.
Indeed, this week, Prince William launched Homewards in an attempt to end homelessness. When the launch happened, Prince William was called a ‘hypocrite.’
Graham Smith, of the anti-monarchy group, Republic, ‘doubts the billionaire Prince’s sincerity.’
He says:
The last thing we need is for William to get involved in this issue, a man who has three huge homes and a vast estate gifted to him by the state
Prince William and the Palace have defended Homewards saying that this initiative goes beyond a ‘PR stunt’ and that ‘This is about trying to change the way that we as a society think about homelessness.’
Now that his salary has been announced Graham Smith is criticising the Prince again, this time over the lack of annual report.
Smith says:
William has some explaining to do because a change of monarch and heir is no excuse to row back on what little transparency there is.
He added:
As Duchy profits appear to be growing to a record £24m it’s time we demanded the return of the Duchies (of Cornwall and Lancaster) to the people and for revenue to be spent on local communities
Prince William is also facing online backlash.
Hilarious....turned down the heating in Buckingham Palace to help climate change and the cost of living, they spent more money this year, Prince William is going to get more money...the RF are really taking the p*ss 🤬#gmb
— Daisy (@Daisy26398461) June 29, 2023
And another user adds:
Newsflash prince william is going to save homeless people with 3 million pounds of your money not his, while he lives In Palaces. Yet we have to clap. While we pay for it all Something wrong here
Read more:
⋙ Prince William has a scar on his face, here’s how he got it
⋙ Prince William makes new change in military uniform in tribute to King Charles and Queen Elizabeth
Sources:
The Independent: Prince William receives £6m salary – but could get more than £20m next year
The Haiger: Royal reversal: Prince William’s ambitious anti-homelessness project sparks cries of ‘hypocrite’
