Prince William got a remarkable $30 million in his first full year of income from the Duchy of Cornwall estate, which he inherited when his father, King Charles, came to the throne.

The Duchy of Cornwall issued its Integrated Annual Report on Thursday, July 24 (local time), disclosing a distributable surplus of £23.6 million ($30.4 million) for the fiscal year 2023-2024, Prince William’s first full year as Duke of Cornwall. This figure pays for Prince William, Kate Middleton, and their three children’s official, charity, and private expenses.

The Prince of Wales, 42, is a working member of the royal family and does not receive a conventional salary. Instead, the Duchy of Cornwall, which King Edward III founded in 1337 to provide income for the heir to the throne, covers the majority of his annual costs. This massive estate, valued at more than $1 billion, covers 130,000 acres in 23 counties in England and Wales and contains land, farms, residences, and other assets to sustain the heir and their family.

After deducting undefined domestic expenditures, William must pay income tax on the total amount he receives from the Duchy of Cornwall.

When King Charles took the throne in 2022, Prince William became the new Duke of Cornwall and head of the estate.

Following Queen Elizabeth’s death, a royal insider stated that Prince William was “fully immersing himself” in his duties as Duke of Cornwall. Since inheriting the land, the Prince of Wales has made multiple visits, including an overnight journey in May to the site of the Duchy of Cornwall’s innovative housing initiative to combat homelessness in Newquay.

The report also mentioned revisions to William’s patronages, such as a change in his involvement at The Football Association.

William, a keen football enthusiast, will now serve as the FA’s patron, a post formerly held by his grandmother, Queen Elizabeth. William had been president of the FA since 2006. The modification reflects his high position as Prince of Wales.

Furthermore, William plans to assume additional patronages with the Welsh Guards Charity and the Royal Cornwall Agricultural Association, in addition to serving as president of the Victoria Cross and George Cross Associations. He will also move from president to patron of Fields in Trust.