{"id":28462,"date":"2024-07-25T16:21:52","date_gmt":"2024-07-25T16:21:52","guid":{"rendered":"https:\/\/ambassadornews.org\/?p=28462"},"modified":"2024-07-25T16:21:55","modified_gmt":"2024-07-25T16:21:55","slug":"prince-william-made-42-million-from-his-newly-inherited-estate-last-year-reports-show","status":"publish","type":"post","link":"https:\/\/ambassadornews.org\/en\/prince-william-made-42-million-from-his-newly-inherited-estate-last-year-reports-show\/","title":{"rendered":"Prince William made $42 million from his newly inherited estate last year, reports show"},"content":{"rendered":"<p class=\"has-text-align-left\">It&#8217;s good to be the king, but inheriting his billion-dollar estate in the meantime can&#8217;t hurt, either<\/p>\n\n\n\n<p class=\"has-text-align-left\">Newly released financial reports show that William, the Prince of Wales, drew a salary of $42.1 million last fiscal year, his first since inheriting the vast and lucrative Duchy of Cornwall<\/p>\n\n\n\n<p class=\"has-text-align-left\">Prince William took custody of the lands the year before last, coinciding with his father&#8217;s ascension to the throne in September 2022. Previously, the King was Cornwall&#8217;s longest serving duke, marking 70 years in the role in 2022<\/p>\n\n\n\n<p class=\"has-text-align-left\">Published Wednesday, the Duchy&#8217;s 2024 financial report shows an income surplus of \u00a323.6 million, on a net asset value of \u00a31.1 billion ($1.98 billion<\/p>\n\n\n\n<p class=\"has-text-align-left\">&#8220;We are pleased this was achieved while still spending a record amount on repairs and maintenance and investing in our staff and our sustainability programmes,&#8221; reads<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-left\">A royal nest egg<\/h2>\n\n\n\n<p class=\"has-text-align-left\">The Cornwall estate, which extends across more than\u00a0<a href=\"https:\/\/duchyofcornwall.org\/about-the-duchy\/\">50,000 hectares of land in south and southeast England and Wales<\/a>, was first established in the 14th century to provide an income for the heir to the throne<\/p>\n\n\n\n<p class=\"has-text-align-left\">Each time a new monarch arises, control of the estate is passed to their eldest son, though it&#8217;s worth noting that the seat of the monarchy itself has since 2013 done away with an inheritance structure that favoured sons over their elder sisters,\u00a0<a href=\"https:\/\/www.royal.uk\/encyclopedia\/succession#:~:text=The%20Succession%20to%20the%20Crown,born%20after%2028%20October%202011.\">known formally as male primogeniture<\/a><\/p>\n\n\n\n<p class=\"has-text-align-left\">Revenues from the Cornwall estate come primarily from property rentals, reports from the Duchy&#8217;s administration read. Minus costs of administration, repair and investment on the properties and payroll for roughly 150 staff, those revenues are used &#8220;to fund the public, private and charitable activities of The Duke and his immediate family.&#8221;<\/p>\n\n\n\n<p class=\"has-text-align-left\">Known as the Duchy&#8217;s &#8220;distributable surplus,&#8221; the profits are reliably in the tens of millions of pounds. The estate&#8217;s website notes that, though this surplus is not subject to compulsory income tax, surrendering that tax is typically something the duke &#8220;<a href=\"https:\/\/duchyofcornwall.org\/frequently-asked-questions.html#question_6\">chooses to do voluntarily<\/a>.&#8221;<\/p>\n\n\n\n<p class=\"has-text-align-left\">The Duchy&#8217;s surplus has fluctuated somewhat in recent years, dipping through the COVID-19 pandemic but reaching a 10-year high of \u00a324 million in the 2022-23 fiscal year<\/p>","protected":false},"excerpt":{"rendered":"<p>It&#8217;s good to be the king, but inheriting his billion-dollar estate in the meantime can&#8217;t hurt, either Newly released financial reports show that William, the Prince of Wales, drew a salary of $42.1 million last fiscal year, his first since inheriting the vast and lucrative Duchy of Cornwall Prince William took custody of the lands [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":28465,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"topbottom","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","number_popup_post":"1","show_author_box":"1","show_post_related":"0","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_social_meta":{"fb_title":"","fb_description":"","fb_image":"","twitter_title":"","twitter_description":"","twitter_image":""},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"jnews_post_split":{"enable_post_split":"0","post_split":[{"template":"1","tag":"h2","numbering":"asc","mode":"normal","first":"0","enable_toc":"0","toc_type":"normal"}]},"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[47],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Prince William made $42 million from his newly inherited estate last year, reports show &#8211; 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