The Prince and Princess of Wales have several different streams of wealth – from the hearty Duchy of Cornwall to the generous inheritance given to them by late family members
William and Kate are set to move into a new eight-bedroom home in Windsor
The Royal Family has long been associated with opulence and elegance, from grand properties like Buckingham Palace and Windsor Castle, to the magnificent jewels and clothes. While modern royals may flaunt their riches much less than the kings and queens of years gone by, they are still unimaginably wealthy – but just how much money do they have? Let’s take a look at William and Kate’s finances…
Prince William took over the Duchy of Cornwall in September 2022 after the death of Queen Elizabeth II. This private estate is worth £1billion and its website explains that it “funds the public, charitable, and private activities of the Prince of Wales and his family”.
In 2023, the assets – which include land, farm tenancies and commercial properties – created £24million in distributable surplus, according to its annual report. In 2023, it was revealed that William received a private income from the Duchy of nearly £6million in the last financial year, the Mirror reported at the time.
While William would usually be entitled to £24million as his private income, his finances were made more complicated that year after he became heir to the throne midway through the financial year.
William and Kate’s children have to earn their pocket money, an expert has revealed
Prince William has also received inheritance money from family members, including the £14million he and his brother Harry were given when the Queen Mother died in 2002. The brothers also inherited Diana’s estate after her death – after £8million was paid in inheritance tax, they were left with almost £13million, the Press Association reported.
But what about Kate? In 2014, three years after she married William, her family inherited a trust fund that was worth more than £3million, according to the Daily Mail. She also grew up relatively wealthy, with her and her two siblings attending the prestigious Marlborough College.
When William and Kate, and other working members of the Royal Family, perform official duties, related expenses are paid for by the Sovereign Grant. It also goes towards the upkeep of properties and staff costs, the BBC explained.
Earlier this year it was announced that the Prince and Princess of Wales were set to move into their new home in Windsor, the eight-bedroom Forest Lodge. It was also reported that any work carried out on the property would not come from the Sovereign Grant, and that the couple would be funding the move privately – as well as pay market rent on the property.
Despite the family’s wealth, William and Kate are raising their children to understand the value of money. Royal expert Katie Nicholl told The Mirror: “They are far more ordinary than many might imagine – the kids even have to do chores in return for their pocket money. It’s about them wanting to have a normal, happy, ordinary family home and lifestyle.”
The importance of helping others less fortunate has also been impressed upon the children. In 2023, George, Charlotte and Louis joined Kate for a session of volunteer work at the Baby Bank in Maidenhead, Berkshire.
They sorted clothes, toys and essentials and in a clip of the day, Kate can be seen telling George: “You can see how rewarding this kind of work is knowing you are helping out others.”