Net worth

Prince William and Kate Middleton’s net worth jumps from $40 million to $1.3 billion overnight after Queen’s death

LONDON, UK: The Queen’s death on Thursday September 8 ushered in a new era. With the accession to the throne of Prince Charles, each member of the royal family received a new title. On Friday September 9, Prince William and Kate Middleton were named Prince and Princess of Wales.

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Along with gaining royal titles and responsibilities, Prince William and Kate Middleton have also acquired substantial wealth. Prior to news of the Queen’s death, William had received money from the Crown Estate, Sovereign Grants and the estate of his mother, Princess Diana. His estimated net worth was $40m (£34m), which is a respectable amount. But his net worth has since been boosted by $1.3bn (£1.1bn), making it a total of $1.34bn, LADBible reported.

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Meet the Duke and Duchess of Cornwall: Prince William and Kate Middleton change titles after Queen’s death

Prince William says ‘life without a grandmother’ is unreal in touching tribute to the Queen

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This significant gain in wealth is the result of Prince William and Kate inheriting former titles from King Charles. They are now known as Prince and Princess of Wales, Duke and Duchess of Cornwall, in addition to their previous titles of Duke and Duchess of Cambridge. The title of Duke and Duchess of Cornwall is the most rewarding financially compared to other acquired titles.

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William, Prince of Wales, and Camilla, Queen Consort, watch as King Charles III attends his proclamation as King at the Accession Council on September 10, 2022 in London, UK (Jonathan Brady – WPA Pool/Getty Images )

The entire Duchy of Cornwall is worth $1.3bn (£1.1bn) and is made up of a wide range of real estate scattered across the country. The estate contains farms, a prison, part of Dartmoor National Park and cricket grounds. It covers over 128,000 acres and encompasses 20 counties in England and Wales.

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The oldest Duke of Cornwall in history, Charles held the title for over 50 years. In the last financial year, the owner of the estate gave him $24m (£21m). The king voluntarily paid the highest rate of income tax of 45% on the property. However, as the Duchy was not considered a business for tax purposes, Charles was exempt from paying corporation or capital gains tax.

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Catherine, Princess of Wales and Prince William, Prince of Wales meet members of the public at Windsor Castle on September 10, 2022 in Windsor, England.  Crowds gathered and tributes were paid at the gates of Windsor Castle to Queen Elizabeth II, who died at Balmoral Castle on September 8, 2022.
Catherine, Princess of Wales and Prince William, Prince of Wales meet members of the public at Windsor Castle on September 10, 2022 in Windsor, England. (Photo by Kirsty O’Connor – WPA Pool/Getty Images)

This has caused public and MP concern as the estate owns land that was once used for mining and the Duchy owns the mineral rights to the mine. Many claim that Charles started Duchy Organics, a food company, thirty years ago, tying the estate and title to the company. Even if the brand was bought by Waitrose and is no longer associated with the Duchy, the controversy remains. William will now be responsible for making all decisions regarding the future of the estate after its acquisition.

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On Saturday, September 10, the new Prince of Wales shared a moving ode to his grandmother, the Queen, which included the following passage: “She was by my side in my happiest moments. And she was by my side during the saddest days of my life. I knew this day would come, but it will be a while before the reality of life without a grandma really feels real. I thank her for the kindness she has shown to my family and to me. And I thank her on behalf of my generation for providing an example of service and dignity in public life that was from another age, but still relevant to us all.”

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