Prince William, Duke of Cambridge is a senior member of the British royal family. As the elder son of Prince Charles and the late Diana, Princess of Wales, William is second in the line of succession to the British throne. His official salary and income have been the source of much public interest and speculation over the years.
The Sovereign Grant
As a senior working royal, Prince William receives funding from the Sovereign Grant to support his official duties and charitable work. The Sovereign Grant is provided by the British government to cover the official expenses of The Queen and certain members of the royal family. For the 2020-2021 fiscal year, the total Sovereign Grant was £86.3 million.
Out of this amount, Prince William and his household were allocated £1.1 million to cover travel, staffing, and office costs related to his royal duties. This does not represent William’s personal income, but rather the public funding he receives to fulfill his role.
The Duchy of Cornwall
In addition to the Sovereign Grant, Prince William also benefits financially from the Duchy of Cornwall estate. The Duchy provides income to the heir apparent of the British throne, which is currently Prince Charles.
Charles uses this income to support his children and their families. It is estimated that between the Duchy of Cornwall and other private holdings, Charles provides several million pounds a year to both William and his brother Prince Harry.
Exact figures are not publicly released, but it is believed that William receives in the range of £1-2 million annually from his father’s estate. This helps cover expenses related to duties as well as the private costs of his household and family.
Personal Wealth and Inheritance
Beyond the public funding and family estate, Prince William also has a significant amount of personal wealth and assets:
Inheritance from Princess Diana
When their mother passed away in 1997, William and Harry received a sizable inheritance estimated around £10 million. This was invested and likely has grown substantially over the past 25+ years.
Inheritance from Queen Elizabeth the Queen Mother
Queen Elizabeth provided generously for her great-grandchildren William and Harry in her will. William is said to have received an inheritance of approximately £14 million.
Bequest from King George VI
Along with personal jewelry and art, Prince William and Harry were also left a stamp collection by their great-grandfather King George VI estimated to be worth £30 million.
Properties and Investments
William owns and invests in several properties in the UK. He also likely has portfolios of stocks, bonds, and other investments from his inheritances that provide ongoing income from capital gains and dividends.
Gifts and Allowances
As a member of the royal family, William receives luxurious gifts such as free stays at five-star resorts and accessories like expensive watches. He may also get periodic allowances or gifts of cash from his father or grandparents.
Estimated Total Annual Income
While the specifics are not public, given all of these sources of funding, income, and perks, experts estimate Prince William’s total annual income to be around £5 million a year as of 2022. Of course fluctuations in investment markets, inheritances, and the Crown Estate finances can affect this amount year to year.
But with the combination of Sovereign Grants, Duchy income, and his own holdings, William enjoys a substantial income suitable for a future King.
Tax Status
Despite William’s wealth and multiple streams of income, he does not pay income or capital gains taxes. As a senior member of the royal family, he is exempt from paying such taxes. So William enjoys his full multi-million pound yearly income 100% tax-free.
Charitable Donations
While not subject to taxes, Prince William does donate portions of his private income to charity. Among the organizations he and Kate support through financial contributions are Cancer Research UK, the National Society for the Prevention of Cruelty to Children, and the Tusk Trust focused on wildlife conservation in Africa.
In addition, when William inherits the full Duchy of Cornwall estate in the future, he has already pledged to donate all of those profits to charity during his lifetime. So while William may not pay direct taxes, he does make significant philanthropic contributions.
Wealth in Context
With an estimated net worth around £40 million and annual income of £5 million, Prince William is certainly considered wealthy by any standard. This affluence allows him to afford multiple homes, staff, luxury travel, high-end goods, and every necessity he could desire.
Yet at the same time, while well-off, William’s income is modest compared to entrepreneurs like J.K. Rowling (£795 million) or his brother-in-law James Middleton (£1 billion). His wealth also pales in comparison to other royals like the King of Thailand (£43 billion) and Sultan of Brunei (£50 billion).
So while Prince William does not have to worry about money, his fortune is relatively restrained compared to other British celebrities and global high society. As King, his income will certainly increase over time. But for now, the future monarch’s wealth befits his role as a senior prince but does not elevate him to ultra-rich status.
Summary
In summary, Prince William enjoys an annual income around £5 million derived from:
- £1.1 million in Sovereign Grants
- £1-2 million from the Duchy of Cornwall estate
- Investment gains and dividends from inheritances and holdings
- Gifts, allowances, and other unofficial perks
This provides him with a very comfortable lifestyle and financial security as he carries out his royal duties. Though William does not pay income tax, he does make sizable charitable donations each year. While certainly wealthy, his net worth is modest compared to entrepreneurs or royalty in other nations. Overall, Prince William has the means to fully finance his activities as a senior member of the royal family second in line to the throne.