Prince William, better known as the Duke of Cambridge, possesses a net worth of $30 million. He is a member of the British royal family. Prince William is the eldest son of Prince Charles and the late Princess Diana. Prince William is the third oldest grandchild of Queen Elizabeth II and the Duke of Edinburgh, Prince Philip.
William is second in line of succession, behind his father, to the thrones of sixteen Commonwealth realms, which are independent sovereign entities. Included among these nations are the United Kingdom, Canada, Australia, New Zealand, Jamaica, Barbados, the Bahamas, Grenada, Papua New Guinea, the Solomon Islands, Tuvalu, Saint Lucia, Saint Vincent and the Grenadines, Belize, Antigua and Barbuda, and Saint Kitts and Nevis. Consequently, he is second in line, again behind his father, to the post of Head of the Commonwealth (figurehead of the 54-member Commonwealth of Nations) and, in England only, to the role of Supreme Governor of the Church of England.
The majority of William’s present net worth was inherited from his mother’s trust fund. When his father ascends to the throne, William will inherit a billion-dollar real estate portfolio known as the Duchy of Cornwall, which earns between $20 and $30 million each year for the heir apparent. Both his inheritance and this land trust will be discussed in greater depth later in this piece. When their great-grandmother passed away in 2002, William and Harry also earned millions of dollars.
In a typical year, William’s father Charles spends over $4 million on his son’s travel, security, and administrative costs.
William Arthur Philip Louis was born at St. Mary’s Hospital in London on June 21, 1982. Royal family members do not have last names. Robert Runcie, the then-Archbishop of Canterbury, christened him on August 4, 1982, in the Music Room at Buckingham Palace. That was also the 82nd birthday of Queen Elizabeth, often known as the Queen Mother, his paternal great-grandmother.
The godparents of Prince William are former King Constantine II of Greece (his paternal cousin), Princess Alexandra, The Hon. Mrs. Angus Ogilvy (his paternal cousin), the Duchess of Westminster, the Lady Susan Hussey Lord Romsey (his paternal cousin), and Sir Laurence van der Post.
In 1992, Prince Harry’s mother and father divorced. Their separation was formalised in 1996. The next year, Princess Diana was tragically slain in a vehicle accident in Paris.
William first attended independent schools, but finally followed in the Spencer family’s footsteps by enrolling at Eton College, just like Diana’s father and brother. William’s attendance at Eton was contrary to the Royal family’s custom of educating their children at Gordonstoun. He attended four British schools and graduated from the University of St. Andrews.
Prince William served alongside his brother Prince Harry as lieutenant in the Blues and Royals regiment of the Household Cavalry. In under two years, he completed pilot school at the Royal Air Force College Cranwell and received his wings. He was subsequently moved to the Royal Air Force, where he was promoted to flight lieutenant and trained to become a full-time pilot with the Search and Rescue Force. He finished his general and type-specific helicopter training in the fall of 2010. He later served with the No. 22 Squadron at RAF Valley as co-pilot on a Sea King search and rescue helicopter.
Prince William married his longtime love, now known as the Duchess of Cambridge, at Westminster Abbey on April 29, 2011. Prince William was given the titles of Duke of Cambridge, Earl of Strathearn, and Baron Carrickfergus just hours before his wedding.
Upon their divorce, Charles handed Diana a $24 million settlement. Inflation-adjusted, this is equivalent to almost $40 million today. After her passing, the funds were placed in trust for William and Harry to inherit on their 25th birthdays. By the time they were both 30 years old, the trust had grown to the point where each son inherited $20 million. The great majority of Harry and William’s personal net worth consists of this trust.
The Earldom of Cornwall
According to British royal law, the Duchy of Cornwall is inherited by the eldest child of the reigning king. This title is essentially a big portfolio of real estate that provides the Crown Prince with a hefty income while he awaits the throne. Edward III founded the Duchy in 1337 to provide an income for the heir presumptive.
When Charles ascends to the throne, William will naturally ascend to the position of Prince of Wales and become the recipient of the Cornwall Trust. When William becomes King, the trust will pass to his son George. And so forth.
The U.K. government considers the trust to be a “royal body,” which exempts its income from taxation. Multiple challenges to the tax-exempt status have prompted Prince Charles to voluntarily pay taxes on the income since 1993. For about a decade, he voluntarily paid a 50 percent tax rate on his income. In 1991, when he got married, he began to pay 25 percent. Since 1993, he has consistently paid the ordinary UK income tax rate.
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The duchy owns 133,000 acres of land in 23 counties in the United Kingdom and has approximately 150 workers. The land is utilised for agriculture, residential housing, and commercial property. As of this writing, the land is estimated to be worth $1.3 billion.
In a typical year, the trust generates little more than $20 million in after-tax income on $40 million to $50 million in total revenue. In several years, the income exceeded $30 million.