Prince William has inherited the private Duchy of Cornwall estate from his new title as the Duke of Cornwall and Cambridge.
It literally is fit for a king especially in terms of price. The inheritance which came into his possession after the death of Queen Elizabeth II on Sept 8 is reportedly worth about $1.2 billion.
It was previously in the possession of his father Prince Charles.
The Queen is said to have had a net worth of S$500 million which includes her jewelry and art collections, her homes and her investments, her will however is confidential. Although Prince Charles receives the bulk of her estate, Prince William’s biggest inheritance is the aforementioned property.
The Duchy of Cornwall estate is enormous, spanning over 140,000 acres of land spread over 20 counties. It has been in the royal family for centuries.
The property was founded by King Edward III for his son Prince Edward in 1337. Revenue earned from the estate is “used to fund the public, private, and charitable activities of the Duke of Cornwall”, which is now Prince William, according to a report in The List.
In another report by Desert News, it was estimated that King Charles earned around $23 million in assets from the Duchy of Cornwall estate in 2021. This shows just how rich Prince William is now.
Prince William already had a healthy bank balance prior to this with a net worth of $40 million according to Fortune magazine. The majority of his income was from his inheritance which he received along with his brother upon his mother’s Princess Diana’s death in 1997.
The Princess left each of her sons $10 million before taxes with a stipulation that they would each receive an annual dividend of $450,000 when they turned 25. Both Prince William and Prince Harry received their full inheritance on their 30th birthdays.
A statement on the Duchy’s website also chronicled the Queen’s personal involvement with the property and how her passing marks a change for the estate.
“Together with HRH The Duke of Edinburgh, [the Queen] made a number of visits across the Duchy estate and attended Council meetings until her son, HRH the Prince of Wales came of age as Duke of Cornwall. The passing of HM Queen Elizabeth II and the succession of HM King Charles III marks the transition of the title of the Duke of Cornwall to HRH The Duke of Cambridge. As such the estate is in safe hands.”
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