Prince William's £6m salary could go up to more than £20m next year
ok.co.ukThe Prince of Wales is set to earn an eye-watering £20m salary next year as he is now entitled to a private income generated from the Duchy of Cornwall landed estate, following the death of his grandmother, the late Queen.The 41 year old heir to the throne, following his father the King's accession, earned £6m this year but faced criticism for not publishing an annual report in his first year as the next in line to be king.
Since inheriting the Duchy land Prince William will now benefit financially from its surplus profits every year. Republic, a company which campaigns for an elected state instead, called on Prince William to report his income and expenditure and also, for him to use the money from his Duchy income to give it to local communities across the UK.The Duchy generated record profits of £24.048 million in 2022-23 – up £1.02 million from £23.024 million the year before, a jump of about 4.5%, the estate’s own accounts showed.
And under normal circumstances, Prince William would be entitled to the full amount as his private income but as he became heir to the throne halfway through the financial year, it has now complicated matters.
According to Kensington Palace, the King, as the former Prince of Wales, was entitled to £11.275 million of the surplus profit.
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