- According to The Guardian, Prince William inherited more than $1 billion in real estate.
- After his father became King Charles, he automatically inherited the Duchy of Cornwall.
- Charles himself inherited the estate at the age of 21, which brought in $24 million in revenue last year.
Prince William became one of Britain’s largest landowners after inheriting the Duchy of Cornwall, a large portfolio of private lands and properties.
The estate covers over 28,000 acres across England and Wales and includes commercial, residential, woodland, river and coastline, including The Oval Cricket Ground in South London, Dartmoor Jail and tin mining rights in Cornwall. It is
also own pound berry, a residential estate in Dorchester, Dorset, built according to Charles’ principles of architecture and town planning. About 3,800 people live in a mixture of private and public housing.
The property portfolio has been a source of income for Charles since he inherited it when he was 21, generating more than $24 million last year, according to The Guardian.
According to the annual report, Charles paid 45% income tax on the estate’s income, which amounted to more than $26 million. Since the principality was not a registered company, he was not responsible for paying taxes, but King Charles did so voluntarily.
The Duchy of Cornwall was established as a private estate by Edward III in 1337, and a charter stipulated that the eldest son of the monarch was made Duke of Cornwall and subsequently inherited the estate.
Proceeds from the estate were used to fund the King’s “public, private and charitable activities” and its website. situation.
The Charter outlined a set of rules that are still followed today, including that the Prince of Wales was not entitled to any income or profit from the sale of property. William is only permitted to receive annual income generated by the property.
The Duchy of Cornwall was not immediately available for comment.