Prince William became first-in-line to the throne in 2022, and with that came a number of significant responsibilities. As well as being made the 27th Prince of Wales, William, who is turning 43 today, was also granted the titles of the Duke of Cornwall, the Earl of Chester, the Duke of Rothesay, the Earl of Carrick, the Baron of Renfrew, Lord of the Isles and Prince and Great Steward of Scotland.
However, arguably one of the most important roles William inherited was the responsibility of the private estate of the Duchy of Cornwall, which had previously been in the hands of his father King Charles before he took to the throne. The Duchy, which owns and manages some 135,000 acres of land in England, is among one of William’s greatest responsibilities, especially as it provides an income to the Prince of Wales and his family.
Spread across 20 counties, the estate is made up of a variety of landscapes including farmland, residential areas and commercial properties, as well as forests, rivers and coastline.
It is Prince Wiilliam’s responsibility to manage the estate and ensure it is well-run for everyone who lives or works on it.
Since taking over responsibility for the estate, William has made a number of public and private visits to the Duchy, and has been passionate about helping the estate grow to its full potential while also addressing mental health, homelessness, and ways to become a “net zero estate”.
William has also had to make sure that the Duchy continues to thrive economically, which so far has been a success.
As reported by GB News, the estate’s yearly “Integrated Annual Report” in 2024 showed that its total assets had risen to a value of more than £1.26bn, with net assets sitting at around £1.1bn.
In terms of its profits – also known as distributable surplus which is used by the prince to fund the “official, charitable and private lives” of himself and his family – the estate also did well last year, reaching £23.6million.
Speaking about The Duchy to The Telegraph earlier this year, William said: “I see it as a branch of my philanthropy. There’s so much good we can do in the rural world.
“I see it [the Duchy] as another arm to the work that I want to do, which is being a positive force for good. I think the Duchy have got way more levels and gears they can go through to be able to be a bigger force in the community.”
The Duchy, which was established by Edwad III to generate private income for his then seven-year-old heir in 1337, will be William’s responsibility until the day he becomes King. When this day comes, the estate will then get passed to his oldest son and heir Prince George.