Yahoo Finance How rich are Prince William and his family in 2024?
How wealthy are Prince William, Kate Middleton, and their three children?
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Next in line to the British throne, Prince William inherited several new titles after the death of his grandmother Queen Elizabeth II in September 2022. Among them was the title of Duke of Cornwall, which came with the massively lucrative Duchy of Cornwall estate, boosting William's already sizeable net worth.
As the future king settles into a higher-profile role, read on to explore Prince William's fortune, as well as those of his wife Kate Middleton and their three children: Prince George, Princess Charlotte, and Prince Louis.
Bumper inheritances
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A considerable portion of Prince William’s existing fortune comes via the inheritances he received from his mother, Princess Diana, and his great-grandmother, the Queen Mother.
According to official records, Diana was worth $31.5 million (£22m) at the time of her tragic death in 1997. That's equivalent to about $60 million (£47m) today.
Princess Diana's legacy
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Diana's estate comprised the settlement of her divorce from Prince Charles and a number of investments, trusts, and precious personal belongings, including her famous wedding dress and iconic sapphire-and-diamond engagement ring.
She named her two sons, William and Harry, as the primary beneficiaries of her estate, while other recipients included her butler Paul Burrell and her 17 godchildren.
Contested will
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Unlike the monarch, Diana was subject to inheritance tax, whittling the estate's value down to around $24.7 million (£17m) – or $47 million (£37m) in today's money.
Paul Burrell received $70,000 (£50k) as requested by Diana, but her mother and sister contested the will. As a result, her 17 godchildren each received just a single keepsake, despite Diana leaving them 25% of her possessions.
Will changes
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Diana wanted 75% of her jewellery and other personal possessions to go to her two sons and the remainder of the estate to be placed in a trust fund for the princes, which they could access when they turned 25.
In reality, however, many items, including her wedding dress, weren't made available to the princes until 2014, when Prince Harry turned 30. The reason? They had been used as part of the Diana: A Celebration touring exhibition that had been organised by the late princess's brother, Earl Spencer.
Distribution delay
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The items that William and Harry had to wait years for included designer gowns, diamond tiaras, and the score and lyrics of the version of Candle in the Wind that Elton John and Bernie Taupin wrote specially for Diana's funeral.
The princes had to wait a further five years to access their trust fund fully, although by then the fund had reportedly ballooned in value by over 50%.
Trust fund access
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William eventually received $16 million (£10m) when he hit 30 in 2012, with Harry getting about the same amount on his 30th birthday two years later. However, the siblings were paid annual dividends of almost $450,000 (£350,000) from the age of 25.
The fund has likely further accrued in value and this, together with the inherited items, represents a large chunk of the future king's current net worth. Princess Diana's wedding dress alone was valued at $190,000 (£151k) in 2019, for instance.
Queen Mother's legacy
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The Queen Mother reportedly squirreled away two-thirds of her fortune into a trust fund for her grandchildren.
At the time of the 101-year-old royal's passing, William and Harry had a reported share of $17.3 million (£14m), according to the BBC. But there was a major catch for the older of the two brothers...
Prince Harry's "spare" payout
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In recognition of her great-grandson Harry's "spare" role, the Queen Mother stipulated that the bulk of her money should go to him.
This was reportedly because she knew that William would go on to benefit from the Duchy of Cornwall and enjoy all the perks of being the sovereign one day – rewards that Harry would miss out on.
Pieces of the pie
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The princes have been accessing the money in stages over the years, with The Guardian reporting that the brothers tapped into $7.4 million (£6m) of the inheritance when they turned 21.
As for the remaining $9.9 million (£8m), William received his share when he turned 40, while Harry will get his chunk of the money on his 40th birthday in November this year.
Prince William's military career
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Like many other members of the royal family, William has served in the armed forces and was paid a salary for doing so.
After graduating from the University of St Andrews in 2005, the future Prince of Wales trained at the Royal Military Academy Sandhurst, joining the British Army in 2006 as a second lieutenant in the Blues and Royals regiment of the Household Cavalry.
Prince William's army wages
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William was paid an annual starting salary of around $27,300 (£22k), although his annual pay was increased the following year to $34,700 (£28k) following his promotion to lieutenant.
Having developed a fondness for flying, the young royal subsequently trained as a search and rescue helicopter pilot for the Royal Air Force (RAF), joining its C Flight, 22 Squadron in 2010.
Search and rescue pilot
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Lieutenant Wales, as he was known, served as an RAF search and rescue pilot for more than three years. The Express reports that this role offered a starting salary of around $47,000 (£37k) at the time.
In 2015, he became a pilot for the East Anglian Air Ambulance (EAAA), earning an annual salary of $51,000 (£40k). William quit the job after 18 months to focus on his family and official duties, but not before picking up $75,000 (£60k) in pay, which he donated to charity.
Duchy of Cornwall
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It's a time-honoured tradition that the heir apparent controls the Duchy of Cornwall, with William passed the fabulously lucrative title after his father Charles acceded to the British throne.
William also bagged a number of other new titles, including Prince of Wales, Duke of Cornwall, and Duke of Rothesay.
Billion-pound estate
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The Duchy of Cornwall is a vast private estate that was established back in 1337 by King Edward III to bankroll his son and heir, Edward Prince of Wales (who was also known as the Black Prince).
Today, the Duchy boasts an astonishing portfolio of property and financial investments that's worth more than $1.2 billion (£1bn). The jaw-dropping holding includes 52,449 hectares of land across 20 UK counties, and encompasses everything from farmland, forest, and coastline to commercial and residential buildings.
Diverse portfolio
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The Duchy of Cornwall also includes the Isles of Scilly, The Oval cricket ground in London, and Dartmoor Prison, as well as the quaint new towns of Poundbury and Nansledan, King Charles' beloved Highgrove House, and a selection of historic castles.
The portfolio has spawned a succession of flourishing spin-off businesses, including the Waitrose Duchy Organic (formerly called Duchy Originals) food range, a holiday cottages company, and a leading plant nursery.
Lifelong benefits
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Prince William has already reaped the benefits of the Duchy, which, according to its website, "funds the public, charitable, and private activities of the Prince of Wales and his family".
Over the years, Charles has supported William to the tune of millions of pounds thanks to income from the estate, which amounted to around $28.6 million (£23m) during the 2022-2023 financial year.
Between 2019 and 2020 alone, William was allocated $6.2 million (£5m) of the Duchy's net surplus, according to The Wall Street Journal.
Lucrative concern
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As Prince of Wales, William stands to earn well over $25 million (£20m) a year. Intriguingly, a medieval law also gives the Duke of Cornwall rights to the unclaimed estates of people in the county who died without a will, as well as to the assets from dissolved or unclaimed Cornish companies.
According to reports, William's father collected more than $1.3 million (£1m) this way during the 2019-20 financial year, using the proceeds to fund his charities in Scotland. But recent claims that a portion of the money has been used to carry out personal home renovation projects has caused an outcry, prompting the Crown to say the money would be transferred to "ethical" investment funds.
Sovereign Grant
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William's official duties are partly funded by the Sovereign Grant, though he doesn't receive any money from it directly. The grant, which replaced the old civil list and three grants-in-aid in 2012, is the royal family's key funding source.
It was initially set at 15% of the profits generated by the Crown Estate before being upped to 25% in 2017 to help cover the refurbishment of Buckingham Palace. It will revert back to 15% in 2027.
Crown Estate
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Much like the Duchy of Cornwall, the Crown Estate has existed for centuries, having effectively been active since the Norman Conquest of 1066.
However, the royal family no longer owns it and it’s now an independently operated commercial business, with all profits going to the UK Treasury. The Sovereign Grant is calculated as a percentage of those profits.
Prestige assets
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The Crown Estate's assets are just as prestigious, if not more so, than the Duchy of Cornwall's. Highlights include an abundance of prime real estate in London's glittering West End, as well as the control of onshore land and mineral rights in England and Wales. It also manages the seabed around England, Wales, and Northern Ireland.
Wind farm windfall
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These offshore rights are proving particularly fruitful, with a recent deal to develop six wind farms on Crown Estate sites set to generate around $1.2 billion (£1bn) annually. For the 2021-22 financial year, the estate’s profits amounted to a whopping $407 million (£313m).
Currently, the Sovereign Grant stands at $107 million (£86m), part of which supports William's official activities, though the precise amount hasn't been divulged.
Prince William's net worth
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All in all, the most reliable internet estimates put William's current net worth at $100 million (£80m), up from $40 million (£32m) in 2022 before he was passed the Duchy of Cornwall.
When he eventually accedes to the throne, William will likely inherit most of his father’s wealth, tax-free. The Guardian recently pegged this at $2.2 billion (£1.8bn), though The Sunday Times has suggested that it's actually more likely to be around $750 million (£588m).
Prince William's future wealth
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Assets that William is likely to inherit from Charles one day include royal residencies Balmoral Castle and Sandringham. There's also the $127 million (£100m) stamp collection that's been in the family for decades, as well as a sparkling selection of jewels that's worth more than $500 million (£392m).
William will also assume control and receive the profits from the royal family's other feudal domain, the Duchy of Lancaster. This comprises 18,481 hectares of rural land, mainly in central and northern England, and is valued at a hefty $811 million (£652m).
Kate Middleton's money
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Now let's delve into the Princess of Wales's personal fortune. Catherine Middleton, better known as Kate, grew up in an affluent family. Her parents, Carole and Michael, are multimillionaires thanks to their Party Pieces business, although the company recently collapsed with debts of $3.2 million (£2.6m) and was offloaded for just $225,000 (£180k).
Following her graduation from St Andrews University in 2006, royal-to-be Kate worked for the family business after a stint as a part-time accessory buyer for the fashion chain Jigsaw.
Middleton family fortune
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According to reports, Kate and her family benefit from a number of trust funds that were set up by the Middletons more than 100 years ago.
Reports suggest that she's also received several inheritances from moneyed relatives over the years.
Princess Diana's ring
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William famously proposed in 2010 with his mother's sapphire and diamond engagement ring, which now belongs to Kate and is said to be worth in the region of $500,000 (£400k).
The stunning piece of jewellery would probably sell for considerably more these days if it were to go up for auction.
Queen Elizabeth's jewels
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According to one estimate, Kate is rumoured to have inherited jewellery from the late Queen Elizabeth II worth around $110 million (£89m).
While this has yet to be confirmed, royal experts suggest that Kate received the lion's share of the late monarch's astonishing jewellery collection, which has contributed massively to her net worth.
Catherine, Princess of Wales' net worth
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Kate has several other valuable assets, including her $415,000 ($334k) Alexander McQueen wedding dress and a wardrobe of expensive designer clothes.
All in all, the Princess of Wales is worth $10 million (£8m), according to the most credible estimates. Interestingly, her sister Pippa (pictured with her sister on Kate's wedding day) is richer, with an estimated fortune of $50 million (£40m) thanks to her marriage to billionaire hedge fund manager James Matthews.
The fantastic fortune of the next generation
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Kate and William's three young children aren't yet old enough to have much money of their own. The most reliable online estimate puts the net worth of Prince George, who's the oldest of the trio and second in line to the throne behind his father, at around $500,000 (£400k).
It's likely that George's younger siblings, Princess Charlotte and Prince Louis, are probably worth a similar sum.
Future royal billionaires?
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That said, a widely reported study back in 2021 suggested that Charlotte was actually the richest young royal – not to mention the wealthiest child in the world – with a staggering net worth of $4.5 billion (£3.6bn). The same research pegged the fortunes of her brothers, George and Louis, at $3 billion (£2bn) and $127 million (£102m) respectively.
These estimates should be taken with a pinch of salt, however, not least because the study was commissioned by toy company Electric Ride On Cars. The figures are largely speculative and were supposedly based on calculations of potential earnings and future inheritances.
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