Prince William’s lucrative salary revealed: He ‘has some explaining to do’

nypost.com:

King Charles, who was crowned king after the death of Queen Elizabeth II. In his new role, he’s now entitled to the Duchy’s surplus profits every year.The Duchy is a private estate created by King Edward III in 1337 meant to “provide independence to his son and heir.” The tradition has carried on through the years and William is the 25th duke to receive funds “used to fund the public, private and charitable activities” of the current British royal heir.

The UK group Republic, which campaigns for abolishing the monarchy and electing a head of state, demanded the prince report his income and expenditure in full, calling for the Duchy income to be donated to local communities in the UK instead.“William has some explaining to do because a change of monarch and heir is no excuse to row back on what little transparency there is,” Graham Smith, chief executive of Republic, said in a press release.“As the recipient of public funds from the state-owned Duchy he should be reporting his income and expenditure,” he continued. “As Duchy profits appear to be growing to a record $30 million, it’s time we demanded the return of the Duchies (of Cornwall and Lancaster) to the people and for revenue to be spent on local communities.”The records published on Thursday for the 2022-2023 financial year indicated the Duchy of Cornwell generated record profits of $30 million in 2022-23 — up $1.3 million from $29 million the year before, a jump of about 4.5%.Usually, the prince would be permitted to the full $30 million as his private income, but as he became the heir to the throne midway through the financial year, it complicated the report.According to royal accountants, King Charles was entitled to $14.2 million of the surplus from when he.