You may find yourself asking: How wealthy is the British royal family? The answer is far from simple. “One of the problems with the net worth is that it’s very, very difficult to calculate,” royal commentator Richard Fitzwilliams tells TIME.
The exact net worth of any royal family member is unknown, and estimates from online sources range. CelebrityNetWorth has pegged the net worth of Prince William, next in line to the throne, at $100 million. However, the Daily Express and other news outlets reported his worth skyrocketed to more than $1 billion after he took over the Duchy of Cornwall, a private estate worth £1 billion ($1.3 billion), from his father, King Charles III, upon the death of his grandmother, Queen Elizabeth II, in September 2022.
The Duchy of Cornwall “funds the public, charitable, and private activities of the Prince of Wales and his family,” according to its website. The estate was established by Edward III in 1337 to provide independence to his son and heir, Prince Edward.
The portfolio includes land, farm tenancies, and commercial properties across at least 20 counties in England and Wales. In 2023, the assets created £24 million ($30 million) in “distributable surplus,” according to the estate’s most recent annual report. Royals are not obligated to pay income tax, but have voluntarily done so since 1993, according to Parliament.
On top of those holdings, Prince William, along with his younger brother Prince Harry, received inheritances from his mother, Princess Diana, and paternal great grandmother, the Queen Mother.
When the Queen Mother died in 2002, she left about £14 million ($17.6 million today) to her great-grandsons, with the bulk going to Prince Harry since William would benefit financially from one day becoming King, the BBC reported.
Following their mother’s death in 1997, the brothers inherited $21.3 million after taxes to share between them, according to her will.
Prince William has also previously earned money independently. From 2006 to 2013, he served in the British military, earning between $68,000 and $74,000 in his last position in 2011, according to Forbes. After that, he worked for charity East Anglian Air Ambulance, but donated his $62,000 salary to charity, Reader’s Digest reported.
The Prince became a full-time working royal in 2017, spending his time in public engagements as a patron to charities and representative for the country and Crown. He gets his official living, travel, and household expenses paid for from what is called the Sovereign Grant.
Each year, the royal family gives profits from its vast holdings under the Crown Estate to the U.K. government, but gets paid back a proportion in the form of the Sovereign Grant. Historically, the proportion was 15%, but that amount was raised to 25% in 2017 for 10 years to cover renovations at Buckingham Palace. However, the government announced it would be cut to 12% starting this year because of new profits from offshore wind farms on the Crown Estate.
In the most recent financial year, the royal family received £86 million ($109 million) from the Sovereign Grant, according to an annual report published in June 2023. That equals out to £1.29 ($1.63) per person in the U.K., according to the royal website. A core grant of £51.8 million ($65 million) funds official travel, property maintenance, and household operating costs.
However, the Sovereign Grant doesn’t cover Prince William and other royals’ security costs, which is paid for by the taxpayer, with amounts never disclosed, Fitzwilliams says.
Prince William shares finances with his wife, Kate Middleton, the Princess of Wales, who is worth an estimated $10 million.
The couple make use of three homes—Kensington Palace in London, Anmer Hall in Norfolk, and Adelaide Cottage on the Windsor Castle estate. The Guardian reported that Anmer Hall was a gift from Queen Elizabeth II, while the couple pays rent on Adelaide Cottage, where they mainly live with their three children.
FAQs
The exact net worth of any royal family member is unknown, and estimates from online sources range. CelebrityNetWorth has pegged the net worth of Prince William, next in line to the throne, at $100 million.
Where does Prince Williams' money come from? ›
Following his father's ascension to the throne, much of William's wealth will come from The Duchy of Cornwall. The Duchy is a private fund founded by Edward III in 1337, designed to provide a sort of financial independence to his heir.
What was Kate Middleton's net worth before marriage? ›
Before she got married, Kate was already relatively well-to-do. Her family inherited a trust fund that in 2014 was worth more than £3 million ($3.7 million), according to the Daily Mail. When Kate was born, her father, Michael, was a flight dispatcher and her mother, Carole, was a flight attendant.
What does Prince William do all day? ›
William performs official duties and engagements on behalf of the monarch. He holds patronage with over 30 charitable and military organisations, including the Tusk Trust, Centrepoint, The Passage, Wales Air Ambulance and London's Air Ambulance Charity.
What is the net worth of Prince George of Cambridge? ›
Prince George's net worth is estimated to be in the region of £2.9 billion ($3.6 billion) according to Reader's Digest, who reported the Wales youngster's worth in 2022.
Who has more money, William or Harry? ›
Prince William's net worth was already higher than his brother's while the Queen was alive, but his inheritance of the Duchy of Cornwall puts his wealth vastly beyond Prince Harry's.
Did Meghan inherit anything from the Queen? ›
As for why the Queen left Meghan out of her inheritance, Radar Online's source speculated that it could be due to either “practicality” or Harry and Meghan's drama with the British royal family in the years leading up to the Queen's death.
Why is Princess Charlotte so rich? ›
Not only that, she's thought the be the richest child on the planet, other celebrity kids included. The reason comes down to their mother, the Princess of Wales, and her major influence on fashion. Although she's not even in the double digits as far as age goes, Charlotte's net worth contains a lot of zeroes.
What did Princess Anne inherit from her mother? ›
On top of owning items like Aquamarine Pineflower Tiara (made by Cartier for the Queen Mother), the Diamond Festoon Tiara, Princess Andrew's Meander Bandeau (also made out of diamonds), and Empress Marie Feodorovna's Sapphire and Pearl Choker, Princess Anne just inherited her late mother's iconic three-strand pearl ...
Does Prince William have a degree? ›
The Prince of Wales studied at the University of St Andrews, in Fife, Scotland, where he initially pursued a degree in art history before switching to geography in his second year. Prince William graduated with a Master of Arts, earning a 2:1. While at university, he played water polo and met his wife, Kate Middleton.
When it comes to her midday meal Kate loves salads and bowls of fruit. She also tries to eat foods which help her skin, including lots of watermelon salads, gazpacho, goji berries, tabbouleh and ceviche. A source said: "Kate already has the perfect figure but her motivation is to achieve radiant skin."
What does Prince Harry do now? ›
While Harry formally remains a counsellor of state, the crown informed parliament in 2022 that “in practice” only working members of the royal family would be called upon to fill in for the monarch. Harry and his American wife moved to live in a villa in the wealthy enclave of Montecito, Southern California, in 2020.
How rich is Prince Archie? ›
Can Prince Archie of Sussex become king one day? It seems that the chances are not that great for Archie because she is seventh in line to the throne, however, many people love the child. Currently, according to celebrity net-worth websites, they concur that the child's estimated net worth was 10 million dollars.
What was Princess Diana's net worth when she died? ›
So… what was Princess Diana's net worth at the time of her death? Princess Diana's net worth was $25 million, according to Celebrity Net Worth.
Does Prince William earn a salary? ›
Look no further: Prince William's multi-million dollar salary has just been revealed. According to the Duchy of Cornwall estate's 2023 annual report, Prince William received a private income of nearly £6 million this year—which converts to more than $7.5 million.
How did the royal family get so much money? ›
The level of funding for the Royal Household is now linked to the Government's revenue from the Crown Estate. The Sovereign Grant Annual Report states that the Sovereign Grant was £31 million for 2012–13, £36.1 million for 2013–14 and £37.9 million for 2014–15.
How much did Harry and William inherit from Diana? ›
Prince Harry reportedly inherited more money than his older brother, Prince William, from their late mother, Princess Diana. The inheritance amounted to over $26.7 million, which was a result of Princess Diana leaving just under $17.3 million to her sons.
Where does King Charles wealth come from? ›
From official state gifts that have been subsumed into private property, to vast hereditary estates that pay out tens of millions each year, much of the king's private wealth is derived from his and his family's public roles as working royals. All told, Charles's private wealth is estimated to total £1.815bn.
