Many of us have lived through the reigns of several British monarchs and witnessed the evolution of the royal family's public roles and financial affairs.

The royal family often seems like a distant, opulent spectacle, but their financial matters can sometimes be as down-to-earth as our own – albeit with a few more zeros on the end of their bank statements.

In a revelation that has many of us double-taking, Prince William's salary for his first full year as the Prince of Wales has been disclosed.


The princely sum of £23.6 million (that's around $46 million) was reported as a 'distributable surplus' from the investments of the Duchy of Cornwall, an estate he inherited from his father, King Charles, upon the latter's ascension to the throne in September 2022.

The Duchy of Cornwall is not just any piece of property; it's a vast private estate valued at over $1 billion, and it's been the financial backbone for the heir to the throne for centuries.


The estate's profits support the official, charitable, and private activities of William, his wife Kate, and their three children.

While the estate is exempt from corporation tax, Prince William has continued the tradition of voluntarily paying income tax on the surplus revenue after deducting business expenses.

In the previous year, Prince William only received a portion of the estate's $43 million profit, as he stepped into his role as Duke of Cornwall midway through the fiscal year.


The Prince and Princess of Wales are known for their philanthropic efforts, and it's reported that a significant amount of their income goes to charitable causes.

These include donations to support the war in Ukraine, earthquake relief efforts in Turkey and Syria, the London Air Ambulance, and various mental health charities.

The financial report comes as the royal family is undergoing a strategic shift.

Prince William is set to scale back the number of patronages he holds, focusing on fewer causes to maximise impact.

This is a departure from the traditional approach of previous generations of royals, who spread their support across a more comprehensive array of organisations.

The future King and Queen Consort aim to concentrate their efforts on areas that align with their values, allowing them to forge deeper relationships with organisations and gain a more profound understanding of the issues they champion.


William will become patron of the Welsh Guards Charity, the Royal Cornwall Agricultural Association, and the president of the Victoria Cross and George Cross Association, among his new roles.

He will also transition from president to patron of Fields in Trust and take on a new patronage of the Football Association.

‘The Prince and Princess of Wales’s number one priority is to deliver impact.’ his private secretary Ian Patrick stated.

‘The approach they take to their charitable endeavours is an evolution of how members of the royal family have worked in the past,’

‘Their royal highnesses wish to focus their time on a smaller number of causes that are aligned with their values and allow them to build deeper relationships with organisations, engage in a constructive way, and deepen their knowledge of the issues that these organisations champion.’


In royal news, Prince William and Catherine, Princess of Wales, are reportedly not planning to meet with Prince Harry during his upcoming UK visit.

The royal couple feels ‘completely betrayed’ following the release of Harry's memoir Spare and the Netflix documentary about him and Meghan. Read more about this story here.
Do you think the royal family's approach to charity and public service is changing for the better? How do you view the balance between their wealth and their philanthropic work? Share your insights and join the conversation below.