Here's how much Prince William made in 2025

It's been a financially rewarding year for the heir to the British monarchy.

In its Integrated Annual Report from June 2025, the Duchy of Cornwall revealed it earned a distributable surplus of £22.9 million (about P1.81 billion) for the 2024-2025 fiscal year, as reported by People Magazine. A distributable surplus is the portion of the estate's profits or assets that can be paid out to its owners. 

Prince William took over ownership of the estate in September 2022 when his father, King Charles III, its previous owner, ascended to the throne. Since then, Prince William and his wife Kate Middleton have been actively working as the Duke and Duchess of Cornwall. 

According to People, the income the couple earns from the estate is meant to cover expenses incurred from their official and charitable duties, as well as the private needs of their family. The duke has been reported to be conscientious about paying tax on the income he receives from the duchy. 

It was for this reason—to provide income to the eldest son of the British monarch—that the Duchy of Cornwall was established by King Edward III in 1337 in the first place. Working royals do not earn a regular income. 

How does the Duchy of Cornwall earn income?

The Duchy of Cornwall runs like a well-oiled feifdom that earns mainly from leasing land and property on standard and commercial terms. 

"Our income is primarily derived from property letting, financial investments and small trading enterprises," wrote Andrew Phillips, finance director of the Duchy of Cornwall, in the report.

For fiscal year 2024-2025, 75% of the duchy's earnings came from property income. 

The estate, which is run by 200 staff, stretches over 52,173 hectares in 19 counties, with over 200 equipped farms and two built communities. Over the past year, it has completed over 3,100 new homes. 

It isn't merely an income generator for the Prince and Princess of Wales, however. As stated in the report, the duchy aims to become a net-zero estate by the end of 2032. It also continues to work to address homelessness in the areas it covers and to become a beacon of mental health care. 

More roles for the Prince and Princess of Wales

Aside from heading the Duchy of Cornwall, the Prince of Wales has been assuming more roles lately as the first-in-line to the British throne.  

He has transitioned from serving as president of UK charity Fields of Trust and The Football Association to being patron of both. The Duke has also taken on a patronage role in the Welsh Guards Charity and the Royal Cornwall Agricultural Association. 

Additionally, beginning in 2026, King Charles has granted Prince William and Kate the power to hand out Royal Warrants. These are prestigious seals of approval given to individuals and companies whose products and services royals regularly use.