Since King Charles III's ascension to the throne, Prince William is now the first in line should his father eventually pass away.

With his father now becoming King, he leaves behind a billion-dollar estate that has been passed down from generation to generation in the monarchy family tree.

His Majesty Prince William now takes ownership of the Duchy of Cornwall, the 685-year-old estate that belongs to the Duke and Duchess of Cornwall.

Prince William Net Worth 2022

According to Marca, Prince William's net worth is estimated to be $30 million.

It was reported to have come from his inheritance from his mother, the late Princess Diana when shortly after she tragically died in a car crash in Paris, France.

After his father King Charles III ascended to the throne last week, he leaves behind the Duchy of Cornwall to Prince William, who is now the Duke of Cornwall along with his wife, Princess Kate Middleton, Duchess of Cornwall and Cambridge.

The Duchy of Cornwall is one of the duchies in England apart from the Duchy of Lancaster. Governing laws say that the eldest son of the British Monarch inherits the throne, which then Prince Charles III owns. Now since he is declared King, his eldest son, Prince William takes charge of the Duchy of Cornwall.

Reportedly, the estate provides the now first in line to the throne an annual income of 20 million to $30 million annually. Accounts also say that the estate costs £1 billion ($1.2 billion).

As Prince William's net worth continues to expand, his responsibilities do so too. His Majesty will now be governing the Duchy of Cornwall, which also covers legal privileges and rights in Cornwall and the Isles of Scilly. He can now appoint officials in the country that would be serving on the port authority of the Isles of Scilly's main harbor.

However, contrary to popular belief, the Duke and Duchess of Cornwall do not own the entirety of the land. They would only own 7,552 hectares of land in Cornwall, 13 percent of the entire Duchy estate.

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Where Is the Duchy of Cornwall?

According to its website, the Duchy of Cornwall is situated in the South West of England covering more than 52,000 hectares of land in 20 counties.

The Duchy of Cornwall spans arable and livestock farms including residential and commercial properties, rivers, quarries, forests, and vast coastlines.

The website also states that King Charles III, the previous leader of the Duchy of Cornwall, was the longest reigning Duke of Cornwall in history.

Despite many challenges, King Charles III managed to voluntarily pay the income tax of the estate even though the British government considers it a crown body and exempt it from paying corporation tax.

"It is with great sadness that we observe the demise of HM Queen Elizabeth II. HM Queen Elizabeth II took a keen interest in the Duchy of Cornwall during both the reign of her father HM King George VI and in the early years of her own reign," the Duchy of Cornwall said on late Elizabeth II's recent passing.

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This article is owned by Latin Post.

Written by: Ivan Korrs

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