Prince William’s huge salary revealed
Buckingham Palace has released its annual report, known as the Sovereign Grant Report, into the royal family's finances, revealing Prince William's whopping annual salary.
The Palace said the findings of the report "reflects a time of unforeseen challenges for the royal family", referencing the cancer diagnosis that struck both King Charles and Princess Kate this year, as the senior royals stepped back from official duties to undergo treatment.
Despite the "challenging" year for the royals, Prince William earned a whopping salary of $45 million AUD in the last financial year.
After inheriting the title of Prince of Wales, Prince William, receives the majority of his personal wealth from the Duchy of Cornwall, which he inherited from his father after the death of the late Queen Elizabeth II in September 2022.
That extensive estate is worth more than £1 billion (approximately $1.8b AUD) and includes 52,450 hectares of land, mostly in the south-west of England.
Prince William has made a major change since inheriting the title, choosing not to reveal how much tax he pays on the private income from the duchy.
The royal family is also set for a huge pay rise next year, as profits from the monarch's Crown Estates has risen by 53 per cent in the past financial year.
That means the monarchy is to receive a boost of more than £45 million (approximately $87m AUD).
Across 2023-24, profits for the royal family rose to £1.1 billion mainly due to offshore wind farms, meaning the Sovereign Grant (the annual payment the royals get from the government each year) will increase from £86.3 million (approximately $167m AUD) in 2024-25 to £132 million (approximately $257m AUD) in 2025-26.
The majority of the royal family's wealth comes from the Crown Estate, roughly about £16 billion (approximately $31b AUD ) of an estimated £20 billion (approximately $40b AUD).
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