Prince William’s role as Prince of Wales comes with significant financial resources.

A report from June 2025 revealed Prince William received a hefty $30 million for his second year’s income from the Duchy of Cornwall estate. The Duchy of Cornwall is a title and estate he inherited when his father, King Charles, ascended the throne in 2022.

The Duchy of Cornwall published its Integrated Annual Report for 2025 earlier this year, revealing a distributable surplus of £22.9 million ($30.9 million) for the 2024-2025 financial year, Prince William’s second year as the Duke of Cornwall. This sum covers the official, charitable and private expenses of Prince William, Kate Middleton and their three children.

William, Prince of Wales attends the Blue Economy and Finance Forum on June 8, 2025 in Monaco.MANON CRUZ/POOL/AFP via Getty

As a working member of the royal family, the Prince of Wales doesn’t receive a traditional income. Instead, his annual expenses are largely covered by the Duchy of Cornwall, an estate established by King Edward III in 1337 to provide funds for the heir to the throne. This vast estate, worth over $1 billion, spans 130,000 acres across 23 counties in England and Wales and includes land, farms, houses and other assets to support the heir and their family.

Prince William visits the Duchy of Cornwall on May 10, 2024.Ben Birchall-WPA Pool/Getty

When King Charles acceded to the throne in 2022, Prince William became the new Duke of Cornwall and head of the estate.

Prince William is understood to pay income tax on the entire income he receives from the Duchy of Cornwall, after subtracting household expenses, which have not been specified.

After Queen Elizabeth died, a royal source said that Prince William was “fully immersing himself” in his role as head of the Duchy of Cornwall. The Prince of Wales has made several stops in the estate since inheriting it, including an overnight trip in May 2024 when he visited the site of the Duchy of Cornwall’s innovative housing project aimed at addressing homelessness in Newquay.

Prince William visits the Duchy Of Cornwall on July 10, 2023.Hugh Hastings – WPA Pool / Getty

In 2024, the report from Prince William’s first full year in the role highlighted updates to his patronages, including a shift in his role at The Football Association. A dedicated football fan, he now serves as the patron of the FA, a position formerly held by his grandmother, Queen Elizabeth. William had been president of the FA since 2006, and the change reflects his senior role as Prince of Wales.

Additionally, Prince William assumed new patronages with the Welsh Guards Charity and the Royal Cornwall Agricultural Association, as well as becoming president of the Victoria Cross and George Cross Association. He also transitioned from president to patron of Fields in Trust.

Looking to the future, according to the 2025 Integrated Impact Report, the Duchy of Cornwall is still focused on “becoming a net zero estate by the end of 2032.”