Prince William's salary, King Charles expenses revealed in royal family's financial reports

Royal family dropped their yearly financial reports on Thursday, revealing Prince William‘s annual salary and King Charles III's expenses.

William as per the Duchy of Cornwall report receives nearly £6 million which amounts to approximately $7.5 million a year.

“The Duchy is a private estate that provides an income to The Duke of Cornwall and his family to fund his official, charitable and private activities,” a statement in the report reads.

"It is managed in harmony with the natural environment and for the benefit of its local communities so that it can be passed on with pride to the next generation."

Kate Middleton's husband William was named the Duke of Cornwall, a title that previously belonged to his father King Charles III, in September 2022 when Charles assumed the throne as King following the demise of Queen Elizabeth II.

According to the report, the duchy was established through King Edward III’s Great Charter of 1337 to bequeath land and various assets to his son, Prince Edward. “The land, property and other assets of the Duchy, and the proceeds of any disposals of assets, are subject to the terms of the original Charters and the Duchy of Cornwall Management Acts,” the statement added.

 “These govern the use of the Duchy’s assets for the benefit of the present and future Dukes of Cornwall. The Prince of Wales, as The Duke of Cornwall, is entitled to the annual net revenue surplus of the Duchy.”

Such funds help William, who's the 25th Duke of Cornwall, cover living expenses for his family with wife Princess Kate, including their three children: Prince George, 9, Princess Charlotte, 8, and Prince Louis, 5.

King Charles’ household, according to Us Magazine, also released its annual spending report on Thursday for the period between April 2022 to March 2023. 

The royals, as per statement, spent a total of $136 million to cover operating expenses and historic events, which had risen five percent from the previous year’s budget.

While $108.9 million of the spending was covered by the Sovereign Grant — which is funded by taxpayer dollars — the rest was taken from the King’s reserve funds.

The memo — which was sent to Parliament on Thursday — also noted that the capital expenditure had more than doubled from the previous year due to “reserving based on the timing of capital works as part of the program.” 

It also attributed significant portions of the cost to Buckingham Palace renovations as well as preparing for monumental events from the queen’s Platinum Jubilee to Charles’ coronation, according to Us Magazine.