It’s natural to question how much of an inheritance the Queen’s relatives received after her passing. The prince’s wealth is of particular importance as he is the future Duke of Cornwall and heir to the throne.
No one knows for sure how wealthy the British royal family is, although some things are known despite Buckingham Palace’s silence on the subject. After the death of the Queen, no one in the royal family, including Prince William, will have to pay any taxes on the money they inherit. That’s due to a treaty signed with the UK in 1993.
Former Prime Minister John Major called for “specific exemptions for assets passing from one sovereign to his or her successor” due to the “unique circumstances of a hereditary monarchy.”
Inheritances of more than £325,000 (almost $376,000) are subject to a 40 percent tax in the United Kingdom for everyone else. Even though the queen is not compelled to pay income or capital gains taxes, Queen Elizabeth II indicated in 1992 that she would do so voluntarily.
Her son, the then-Prince Charles of Wales, quickly followed suit, and William is widely anticipated to do the same. How much money does Prince William have as the heir apparent? Stay with me here.
Prince William Net Worth
Prince William of Wales has an estimated net worth of $100 million. William, Prince of Wales, is Charles, Prince of Wales, and Diana, Princess of Wales’, eldest son. The Duke of Edinburgh and Queen Elizabeth III’s third-oldest grandchild is Prince William.
Prince Harry, his younger sibling, is his sibling. Prince William, Duke of Cambridge, was his title before his grandmother passed away. William became Prince of Wales once his father rose to the throne.
William’s $30 million in wealth came primarily from a trust fund he inherited from his mother before his father became King. After Charles’s coronation as King in September 2022, William acquired the Duchy of Cornwall, a billion-dollar real estate portfolio that provides $20-30 million in year personal income.
Later in this post, we’ll go into greater depth about his inheritance and this land trust. After the death of their great-grandmother in 2002, William and Harry both inherited several million dollars.
William’s father, Charles, spends almost $4 million a year on his son’s transportation, protection, and administrative support.
What is Prince William’s Salary?
William’s annual salary was $73,000 when he was employed by the Royal Air Force.
His Duchy of Cornwall estate brought in $26 million in 2020 and $24 million in 2021 in earnings and is now one of his primary sources of income. Bloomberg reports that William’s annual salary from the Duchy of Cornwall has increased to $24 million.
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Prince Charles’ Divorce Settlement and Trust for His Sons
Charles settled his divorce with Diana for $24 million. After adjusting for inflation, that sum is equivalent to about $40 million today. After her passing, the funds were placed in trust to be distributed to William and Harry on their 25th birthdays.
By the time both sons reached the age of 30, the trust had grown to the point where each would get $20 million. Harry and William have put the great majority of their wealth into a trust.
The Duchy of Cornwall: A Royal Real Estate Portfolio
The Duchy of Cornwall traditionally passes to the eldest son or daughter of the reigning British monarch. This position provides the Crown Prince with a hefty income as he waits to ascend to the throne in the form of a vast real estate portfolio. In 1337, Edward III created the Duchy to secure financial support for his heir.
William became Prince of Wales and heir to the Cornwall Trust upon Charles’s coronation as King in September 2022. George, William’s son, will take over the trust when he becomes king. Further, etc.
The trust is exempt from income taxation since it is classified as a “crown body” by the United Kingdom’s government. Prince Charles has willingly paid taxes on his income since 1993, when the tax-exempt status was first questioned. For roughly ten years, he willingly paid a tax rate of fifty percent on the money he made. After he tied the knot in 1991, he began contributing 25%. Every year since 1993, he has paid the ordinary income tax rate in the United Kingdom.
More than 150 people are employed by the duchy, which owns 133,000 acres of land in 23 different counties in the United Kingdom. Agricultural, residential, and commercial uses coexist on the land. The land is worth about $1.3 billion as of this writing.
On annual revenue of $40-50 million, the trust typically generates an after-tax profit of just over $20 million. There have been years when that number has reached $30,000,000.
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