The Duchy of William finance team reunites after inheriting £ 23 million annually

The Duchy of William finance team reunites after inheriting £ 23 million annually

The Prince of Wales, who inherited £ 23 million annually from the Duchy of Cornwall, held a meeting with the land tenure’s finance committee on Wednesday.

William became the 25th Duke of Cornwall following his father’s accession to the throne.

As heir to the throne, the prince is entitled to the annual surplus generated by the Duchy’s vast portfolio of land, buildings and financial investments.

He was also responsible for supervising the management of the estate, with the meeting intended as a sign of the seriousness with which he assumes his new role.

Death of Queen Elizabeth II

William is entitled to the annual surplus generated by the vast portfolio of the Duchy (Emilio Morenatti / PA)

In 2021-2022, the annual income of the Duchy was 23 million pounds for Charles, then Prince of Wales and now king.

The court circular recorded that William spoke Wednesday with the Duchy Finance Committee via video link.

The annual private income will cover the cost of William’s public and private life.

He has already received an undisclosed amount of money each year from the Duchy through his father, but now William is entitled to the entire surplus.

Royal visit to Devon and Cornwall

The Prince of Wales at the Duchy of Cornwall nursery in Lostwithiel, Cornwall (Chris Jackson / PA)

William, 40, has been preparing for the role of Duke of Cornwall for many years.

“I am very passionate about my agriculture and just want to know more,” he said in an ITV documentary with Charles in 2019.

Charles admitted that he was “deeply touched” by the fact that William had taken an interest in the Duchy.

He added: “It practically reduced me to tears. Because all of a sudden I thought, ‘well, just hearing that from him has made the last 50 years worthwhile.’ “

Royal visit to Devon and Cornwall

Charles and Camilla on a visit to the Isles of Scilly, which is part of the Duchy of Cornwall estate (Arthur Edwards / The Sun / PA)

The television documentary marked five decades of the then Prince of Wales in charge, with Charles adding, “He’s lucky enough that I found myself there at 21. I really had a bit of a baptism of fire.

“He goes and visits different parts of the Duchy of Cornwall, and so he’s learning, I hope, as time goes on.”

The Duchy is worth over £ 1 billion and is one of the largest and oldest in Great Britain.

It spans 23 counties in England and Wales and includes the Oval Cricket Ground and 67,000 acres of Dartmoor.

It was founded by Edward III to provide a private income to his son and heir to the throne Edward, later known as the Black Prince, and its purpose remains the same today.

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