The crown prince can now count on the benevolence of the Duchy of Cornwall, which reportedly brings him several million dollars a year. hollywood lifeThursday, June 29.
After the death of his grandmother, Elizabeth II, in September 2022, Prince William inherited an invaluable asset that was passed down by King Charles III: the Duchy of Cornwall. An area comprising 51,800 hectares of land and a property portfolio valued at £345m (€395m). This land empire consists of farmland, hotels, medieval castles, offices, shops and luxury real estate in London.
Bought in 1980 by Elizabeth II’s son before he married Princess Diana, the Duchy of Cornwall has always been dear to the new king, who raised his sons there. On the same estate, Charles III also owned the organic farm Duchy Originals, which he developed over 35 years. In April 2020, he decided not to renew the lease.
In addition to this dukedom, Kate Middleton’s husband now holds the title of Duke of Cornwall, which allows him to receive the profits from the estate. So the property would have brought him $7.5 million (€6.8 million) in 2022, according to the 2023 report. Duchy of Cornwall .
£24m profit
Last year, the Duchy of Cornwall generated a total profit of £24 million (€27 million), which is £1 million (€1.1 million) more than in 2021. A sum that Prince William could fully understand. But with the Queen’s death mid-year, King Charles III was already a beneficiary of the profits from January to September 2022, a period during which he was still the Duke of Cornwall. He thus received 11.275 million pounds (13.1 million euros) of this total of 24 million pounds.
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Prince William could therefore receive £12.773m (€14.8m) for the last six months of 2022, which he spent as Duke of Cornwall, he said. hollywood life . However, the passing of the torch between King Charles III and the Prince of Wales saw the Duchy’s teams claim £6.873m (€7.9m) in running costs. Thus, in 2022, Prince William received a salary of 5.9 million pounds (6.8 million euros).
“indelible mark”
In the report, Prince William also paid tribute to his father, who he said had left an “indelible mark” on the duchy and demonstrated his desire to bring about change. “I recognize that I have taken the helm at a difficult time for many tenants, businesses and communities in the Duchy,” he added. The Prince of Wales has thus vowed to work on tackling climate change and homelessness and promoting topics such as mental health.
The Prince of Wales, however, pledged to “support the Duchy family by ensuring the estate continues to grow and thrive as a modern business that delivers on their vision of a sustainable economy for communities, business and nature”. By the end of 2023, Prince William is set to receive the entire £24m (or more) profit from the duchy.
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Source: Le Figaro
