When William, Prince of Wales became Prince of Wales in 2022, following the accession of Charles III, he also inherited one of Britain’s most valuable and historic estates: the Duchy of Cornwall. Recent financial estimates have placed William’s personal wealth at around $1.6 billion, making him one of the wealthiest members of the British royal family and, according to some estimates, wealthier than King Charles in terms of personal assets tied to the Duchy.

The Duchy of Cornwall was established in 1337 by Edward III to provide an independent income for the heir to the throne. Today, the estate spans approximately 130,000 acres across 23 counties in England and Wales. Its holdings include productive farmland, residential and commercial properties, woodlands, rivers, coastline, and other income-generating assets. Rather than being a private investment portfolio that can be freely bought or sold, the Duchy is a hereditary estate that is passed from one heir to the next and managed to generate income for the Prince of Wales.

The estate is now valued at around £1.2 billion, but it’s important to distinguish between the value of the Duchy and Prince William’s personal net worth. William does not personally own the Duchy in the same way someone owns a private company or investment portfolio. He cannot sell it, divide it, or leave it to anyone other than the next heir to the throne. Instead, he receives the annual income generated by the estate, which funds his official duties, charitable work, and the expenses of his household.