Prince William Just Inherited A 685-Year-Old Estate Just Over $1 Billion
Prince William just inherited a 685-year-old estate that is estimated to cost over $1 billion. Prince William received the estate after he was named the Duke of Cornwall and the Prince of Wales. King Charles III previously owned the Duchy of Cornwall estate as his previous title was the Prince of Wales. Prince William was chosen to become the new Duke of Cornwall as it is a tradition in the royal family to give the estate to the ruling monarch's first son. The Duchy of Cornwall estate is massive and is surrounded by many acres of farmland. The Duchy also owns many estates located across southern England and is one of the ways the royal family generates money.
Prince William now has to take on new roles as the new Prince of Wales and follow in the same footsteps as his father did. Prince William's net worth has exploded because of his recent inheritance, and he is now the next in line to become the King of England. So if you want to learn more about the estate Prince William inherited, be sure to check out this article.
The Death of Queen Elizabeth II
The United Kingdom and the Commonwealth are still mourning the death of Queen Elizabeth II as she was the longest-ruling monarch in England and one of the most popular monarchs to rule. Since the Queen's passing, new titles have been given out to the royal family, especially her son Charles, who was crowned the King of England.
King Charles now has to live up to his mother's reign, which is not going to be easy as Queen Elizabeth accomplished a lot in her life. King Charles will inherit all the Queen's royal properties, including his favorite, Balmoral Castle.
King Charles III Becomes The King of England
King Charles III was crowned the King of England on September 8, 2022, the same day his mother, Queen Elizabeth, passed. King Charles has been longing and dreading the death of his mother as he always wanted to be King but didn't want to see his mother pass on.
Now that he is King of England, he now has a new set of roles that he must perform and also has to leave the role of the Prince of Wales to his son, Prince William. King Charles is quite sad that he won't be the Duke of Cornwall, but he knows the estate will be in good hands.
Prince William Was Named The New Prince of Wales
After King Charles was crowned the King of England, Prince William was given the new title of Prince of Wales. This also granted Prince William the title of Duke of Cornwall, which entitles him to receive and manage the Duchy of Cornwall estate.
Prince William always saw this coming as it is in British tradition to give the Duchy of Cornwall to the firstborn son of the King of England. Prince William was devastated by the news that his grandmother had passed, but he knew that it meant that he needed to take on new responsibilities.
Catherine, Princess of Wales
Catherine, Princess of Wales, was given the new title of Duchess of Cornwall as she is the wife of Prince William. There had only been ten Duchesses of Cornwall before Catherine assumed the position. Now that Prince William and Duchess Catherine are in charge of the Duchy of Cornwall, they will receive the income generated from the estate.
It is unsure if Prince William and Duchess Catherine will live in one of the many estates the Duchy of Cornwall owns as they are already living in Kensington Palace. Still, the royal couple is excited to have their new titles.
Prince William Inherited the Duchy of Cornwall
As part of becoming the Prince of Wales, Prince William inherited the Duchy of Cornwall, which is estimated to be around $1.2 billion. The estate spans several counties in southern England and is surrounded by thousands of acres of farmland. The Duchy of Cornwall owns several historical locations as well as some housing developments, which help generate money for the Duchy.
The Duchy of Cornwall estate is the perfect place for the royals to escape the city life of London, so it has been used in the family for hundreds of years as a getaway.
The Duchy of Cornwall Was Established In 1337 By King Edward III
In 1337, King Edward III established the Duchy of Cornwall for his son Edward the Black Prince. King Edward III wanted his son to have a title and land holdings so that he could generate money for himself and the crown. King Edward III stated that the Duke of Cornwall would be given the title of Prince of Wales and be given the lands of the Duchy.
This tradition has been followed ever since King Edward III created the charter and is the reason why Prince William is inheriting the enormous property. The British monarch loves to stick with tradition, so it isn't a surprise that they follow this one.
Edward the Black Prince Became the First Duke of Cornwall
Edward the Black Prince became the first Duke of Cornwall as well as the first Prince of Wales. Edward the Black Prince was only seven years old when his father, King Edward III, granted him the title of Duke of Cornwall and granted him the estate that Prince William inherited.
Many of the traditions that Edward the Black Prince created are still followed today and Prince William is looking to uphold all of them. There are still some original manors that were built during Edward the Black's time and are still standing to this day. They are also a part of the Duchy of Cornwall.
King Charles III Was The Longest Serving Duke of Cornwall
King Charles was quite sad that he had to leave his position as the Duke of Cornwall as he had been in the position for over 50 years, making him the longest-serving Duke of Cornwall. King Charles took his job seriously as the Duke of Cornwall as he helped many communities grow.
King Charles is the reason why the Duchy of Cornwall makes such a large income, as he invested in many housing development projects. King Charles purchased Highgrove House and made it a part of the Duchy of Cornwall as it was his retreat from royal duties.
Duchy of Cornwall's Several Properties
The Duchy of Cornwall has several landownings across the country, which include farms, residential homes, and commercial businesses. This is how the Duchy of Cornwall generates so much money and the reason why it is so important to the royal family. Prince William will now be in charge of all of these properties as he is now the new Duke of Cornwall.
Prince William is not alone when it comes to managing the Duchy of Cornwall, as there are thousands of people that work for the Duchy that help with the finances. The Duchy of Cornwall keeps expanding its portfolio and keeps on creating new housing development projects.
The Duchy Owns The Looe Estuary
The Duchy of Cornwall owns the Looe estuary but is only in ownership of the river and coastal waters. Any ship that wants to moor on the waters or shorelines of Looe has to ask permission from the Duchy of Cornwall in order to do so. The waters around Looe are used for fishing, amusement, and business purposes which King Charles III used quite frequently when he was Duke of Cornwall.
The Looe estuary isn't the only estuary that the Duchy of Cornwall owns as it also owns the Tamar, Helford, and Camel estuaries as well as a large portion of the coastal waters that surround Cornwall.
The Duchy Owns Over 7,000 Acres of Woodland
The Duchy of Cornwall owns over 7,000 acres of woodland located across the southern part of England. The Duchy of Cornwall maintains the forests as some are several centuries old, and it is up to the Duke of Cornwall to keep a close eye on the health of the woods. King Charles believed that they should preserve these forests as they were a big part of English history.
He is a big advocate for environmental awareness, so keeping these forests alive was a big deal to him. A large portion of the forest is open to the public so that the common citizen in the United Kingdom can enjoy these ancient forests.
The Duchy of Cornwall is surrounded by several hundred acres of farmland. Some of the farms have been owned by the Duchy of Cornwall since 1337 and have been generating income for the Prince of Wales ever since. The Duchy of Cornwall rents the land to tenants who pay a certain fee every year. A portion of the income goes back into the Duchy of Cornwall, while the other portion goes to the Prince of Wales.
The Duchy of Cornwall is heavily invested in organic farming and has a facility that researches better ways to grow plants and take care of animals.
The Duchy of Cornwall owns Tintagel Castle, which is famous for being a part of King Arthur's Quest. The Duchy of Cornwall gained ownership of Tintagel Castle in the 17th century and has preserved it as best as it can. The castle grounds are managed by English Heritage which works in partnership with the Duchy of Cornwall at many locations.
A $5 million dollar bridge was constructed in 2021 and funded by the Duchy of Cornwall. The bridge allows an easy path for visitors to visit the castle ruins. King Charles was present when the bridge was opened to the public as he believes Tintagel Castle is an important historical monument.
Restormel Castle is one of the oldest castles that is in ownership of the Duchy of Cornwall. Restormel Castle was built in the 13th century and was one of the homes of Edward the Black Prince. The castle was one of the first that was added to the Duchy of Cornwall in 1337.
Restormel Castle is pretty well preserved and is looked after by English Heritage. The castle is famous for having a perfectly circular structure that was famous among the Normans. The castle is open to the public and is another place that Prince William inherited.
The Isles of Scilly
The Isles of Scilly is off the southwestern tip of Cornwall and another piece of land that the Duchy of Cornwall owns. The Duchy of Cornwall doesn't own all the islands but a large majority of its land. About a third of the homes located on the island are owned by the Duchy of Cornwall, which rents out houses to the people.
There are only about 2,200 people that live on the island, and it is a big tourist destination during the hot summers. The Duchy of Cornwall also owns a large portion of the surrounding waters as well.
The Duchy of Cornwall has owned Launceston Castle since the 17th century and it is another historical location in its portfolio. In the 12th century, Launceston Castle was built by William I, who made the castle for his half-brother, the Earl of Cornwall.
Launceston Castle is infamous as it has been used as a jail and a place of executions, the last one being in 1821. Launceston Castle is operated by English Heritage which works closely with the Duchy of Cornwall. This is one of the many historical sites that the Duchy of Cornwall owns.
The Hurlers is an ancient site of stone circles that are located on Bodmin Moor and owned by the Duchy of Cornwall. The ancient site consists of three stone circles that are estimated to have been built between 2100 and 1500 BC. The ancient site is managed by English Heritage which dedicates all of its resources to help preserve historical sites across the United Kingdom.
This is just another piece of land that Prince William owns as he is now the Duke of Cornwall. Prince William has always been fascinated by history, so it is safe to say that he will make many visits to this ancient site.
King Edward VIII Was The Duchy of Cornwall Before King Charles III
King Edward VIII was the last Duke of Cornwall from 1910 to 1936 before Prince Charles became the Duke of Cornwall. King Edward VIII's reign lasted a short time before he resigned. King Edward wanted to marry his wife Wallis Simpson, who wasn't royal blood, but the Church of England wouldn't allow it, which led to him giving up the position.
There was no Duke of Cornwall after King Edward ascended the throne; it wasn't until Queen Elizabeth II became the Queen of England that Prince Charles was given the title of Duke of Cornwall.
Prince William Used To Live At Highgrove House
Prince William and Prince Harry grew up at Highgrove House, as it was the home of their father, King Charles III. Prince William has many fond memories at Highgrove House as the royal family would spend most of their free time at home as it was the perfect getaway.
King Charles taught Prince William everything about farming and gardening, as those were two of his biggest passions. King Charles knew that the Duchy of Cornwall was in good hands as he taught Prince William how to manage the Duchy. Prince Willliam has always looked up to his father and he isn't going to let him down when it comes to managing the Duchy of Cornwall.
The Duchy Owns Several Holiday Cottages
The Duchy of Cornwall owns several holiday cottages around the country. These holiday cottages are usually rented out to people, but there are a few that the royal family only uses. Some of these holiday cottages are located in Wales, Cornwall, and the Isles of Scilly.
The Duchy's holiday cottages are environmentally friendly as King Charles was a big advocate for environmental awareness. These holiday cottages usually have two dogs that stay at the property, which will keep you company during your vacation. Many UK citizens have raved about the Duchy of Cornwall's holiday cottages and it is something that everyone should experience.
The Oval is an international cricket ground located in Kennington and is owned by the Duchy of Cornwall. The cricket stadium was built on the Duchy of Cornwall's land in 1845 and became the first English stadium to host an international cricket game.
In 1870, the Oval hosted the first football match between England and Scotland and hosted several other historical events. The Duchy of Cornwall generates a good amount of revenue off of the Oval as the stadium is used year-round for different occasions. Prince William will undoubtedly be invited to one of the games as he now owns the stadium.
Poundbury is a planned community that was built by the Duchy of Cornwall as an experimental urban extension to the city of Dorchester. Poundbury is one of many housing development projects that the Duchy of Cornwall has invested in. This is how the Duchy of Cornwall generates a majority of its revenue each year.
Poundbury was made to look like a traditional town with modern architecture, a decision by King Charles when he was the former Duke of Cornwall. There is a population of 3,500 people in Poundbury, and when construction is complete in 2025, the town plans to hold up to 6,000 people.
Highgrove House is one of the homes that Prince William inherited and the childhood home that he grew up in. Highgrove House was purchased by Prince William's father, King Charles, in 1980 as the Prince at the time was looking for a home of his own. Highgrove House was added to the Duchy of Cornwall since King Charles was the Duke of Cornwall and made it his personal home.
King Charles renovated Highgrove House and totally changed the surrounding property by adding several gardens that he decisively planned. Highgrove House is unique to King Charles and Prince William as the two have spent many years there.
Nansledan is another town that was endorsed by King Charles while he was Duke of Cornwall. The town started development in 2013 by the Duchy of Cornwall and was based on Poundbury, which was a pretty successful project. Nansledan is just east of Newquay and plans to have 4,000 homes when construction is complete.
The Duchy of Cornwall relies heavily on these housing communities as they generate a lot of income. The Duchy of Cornwall has many projects planned for the future as it is a great way to make new homes and experiment with different styles.
Cromwell's Castle is another historic castle that is owned by the Duchy of Cornwall. The Duchy of Cornwall acquired Cromwell's Castle in the 17th century and was leased out for a couple of hundred years until it came under the hands of English Heritage.
Cromwell's Castle was used as an artillery fort that guarded the coasts of Cornwall. Cromwell's Castle is open to the public now and has become a big tourist attraction as the castle is still in excellent shape. King Charles has visited the castle on several occasions over the years and loves the history that it provides.
The Duchy of Cornwall owns Lydford Castle, located near the city of Devon. The Duchy of Cornwall acquired the castle in the 13th century as it was built for Richard, the Earl of Cornwall. Lydford Castle is still in good condition as it has been renovated several times since its existence.
Lydford Castle is managed by English Heritage which keeps the castle open to the public. It was important for the Duchy of Cornwall to own these castles back then as they were a major source of income for the Prince of Wales.
Another historic castle that is owned by the Duchy of Cornwall is Maiden Castle. This interesting-looking historical site is a hill fort that was constructed in the Iron Age. The hill fort slopes are still pristine and haven't changed much since it was constructed.
Maiden Castle is managed by English Heritage which constantly conducts research on the old hill fort as archeologists want to find out more about the people who built these magnificent forts. During the Iron Age, the English built several hill forts around the country, but today, there are only a couple that remains.
Berkhamsted Castle was built during the 11th century and came into possession of the Duchy of Cornwall during the 13th century. Berkhamsted Castle was built for Robert Mortain and was later captured by Prince Louis during the civil war between King John.
Not much remains of the original castle as the only things left standing are some of the perimeter walls, and a couple of structures as the construction of the London and Birmingham Railway almost saw its destruction. Berkhamsted Castle is managed by English Heritage and is open to the public.
Dartmoor National Park
The Duchy of Cornwall owns a large portion of the Dartmoor National Park. The national park consists of several acres of farmland and is home to several historical sites. The Forest of Dartmoor is what the Duchy of Cornwall owns, but much is it is still open to the public.
The other parts of Dartmoor National Park are owned by the British government, National Trust, and Forestry Commission. The Duchy of Cornwall has owned these lands since the estate was established as the Prince of Wales has always needed a place to hunt and get away from royal life.
The Hereford Estates consists of the Guy's Estate and the Cradley Estate and is another piece of land that the Duchy of Cornwall owns. The Hereford Estates have been a getaway location for the previous Duke of Cornwall, King Charles. The surrounding landscape consists of farmland and forests that will make you feel like you are in the countryside.
King Charles loved his visits to the Hereford Estates as it was always a peaceful place for him to relax. Prince William will now get the luxury of staying at the Hereford Estates, but that doesn't mean King Charles will not visit the estates from time to time.
One thing that stands out about the Highgrove House is the gardens that King Charles created. King Charles was a big fanatic about gardening, and when he purchased Highgrove House, he decided that he wanted to create a garden of his own. Highgrove House is home to several gardens that King Charles personally designed.
Prince William takes after his father as he finds gardening one of his favorite pastimes. The gardens at Highgrove House are spectacular and are one of a kind as there are many exotic flowers and plants that you wouldn't find in a normal garden.
Prince William Is Set To Make Over $25 Million Next Year
Since Prince William has inherited the Duchy of Cornwall, he is set to make $25 million in revenue off the estate's yearly income. Prince William's net worth before his inheritance was around $40 million, and now that he is the new Duke of Cornwall, William's net worth is around $1.4 billion.
Prince William benefited greatly from his inheritance and will one day inherit whatever King Charles leaves behind. In the past, Prince William didn't receive much inheritance as he would one day become King of England and benefit from the income of the Crown.
Prince George of Wales Will One Day Become The Duke of Cornwall
Since Prince William will one day become King of England, his son, Prince George of Wales, will one day take the title of Duke of Cornwall once his father becomes King. Prince George is set to inherit not only the Duchy of Cornwall but will one day inherit the Crown's estates.
Prince William has been training Prince George to become King one day as he is next in line to the succession of the throne after his father. We probably won't see Prince George as King anytime soon, but he will be the Duke of Cornwall sometime in the near future.
Prince Harry Will Not Recieve Anything
Prince Harry will not receive any inheritance as he is too far down the line of succession. Prince William has the right to receive the inheritance as he is the firstborn son of King Charles. Prince Harry wasn't left out though, as he received a large inheritance from the Queen Mother.
Princess Diana also left Prince Harry a large sum of money because she knew that Prince William would one day be King. The Queen Mother also granted Prince Harry more money than Prince Willaim as she knew that William would benefit from being the King.
Prince William's New Role As Prince of Wales
Prince William and Duchess Catherine have a whole set of new roles to fulfill as they were given the new titles of Prince of Wales and Duchess of Cornwall. Prince William was already playing a big part in the royal family as he has met with several leaders around the world.
Now that Prince William is the new Duke of Cornwall, he has the responsibility to maintain the Duchy and expand its portfolio. Prince William is up for the challenge as King Charles has prepped him for years to become the Duke of Cornwall.
King Charles III Is Looking To Keep Highgrove House
Although Prince William is now the new Duke of Cornwall, his father, King Charles, is looking to keep Highgrove House. King Charles and Queen Consort Camilla plan to stay in Highgrove House until 2027 as Buckingham Palace is being renovated so the King is looking to keep Highgrove House as a place to escape.
Reports say that King Charles would have to pay Prince William around $750,000 per year in rent, but since Prince William has a good relationship with his father, he might give him the estate as a gift. Highgrove House has been the home of King Charles for over 40 years, so he is very fond of the estate.
Prince William Currently Lives At Kensington Palace
Prince William currently lives at Kensington Palace with his family. Prince William is planning on staying at Kensington Palace and is not going to move into Highgrove House as he finds Kenginston Palace more fitting for him. So the likelihood of King Charles keeping Highgrove House is highly likely.
Prince William and Duchess Catherine have totally renovated Kensington Palace to their liking, so it doesn't seem like they are going to be moving out anytime soon. Kensington Palace is also located close to London, which Prince William visits on a daily basis. Kensington Palace has been in the royal family for hundreds of years.
Anmer Hall is another estate that Prince William and Duchess Catherine own, which they use for vacations. The estate is located in Norfolk and was built in the 19th century. Queen Victoria purchased the property and it has been in the royal family ever since. The estate was a wedding gift to Prince William and Duchess Catherine by Queen Elizabeth II, who knew the royal couple loved the countryside.
This is just another place where Prince William and his family can escape from public view. Anmer Hall is not part of the Duchy of Cornwall as it was a gift from the Queen.
King Charles Will Inherit Balmoral Castle
Since King Charles is now the new King of England, he will inherit Balmoral Castle, which was one of his favorite getaways in his younger years. King Charles inherited all the Crown's estates that are located throughout the country. Balmoral Castle was built in the mid-1800s and was purchased by the royal family during the reign of Queen Victoria.
Prince William will one day receive Balmoral Castle when he is crowned King of England. Balmoral Castle is estimated to cost around $140 million, which doesn't include all the valuable items inside the castle.
King Charles And Queen Consort Camilla
King Charles and Queen Consort Camilla are quite sad that they will be leaving their titles behind as Duke and Duchess of Cornwall as the royal couple did a lot for the Duchy of Cornwall and its citizens. The royal couple is set to move into Buckingham Palace once renovations are done, but plan to keep Highgrove House as the two have lived there for years.
The royal couple has a new set of duties to attend to as they are now the ruling monarchs of the United Kingdom. Now it is up to Prince William and Duchess Catherine to take over the Duchy of Cornwall.
Prince William's Net Worth Has Skyrocketed
Prince William's net worth is now around $1.3 billion thanks to the inheritance that he just received. Prince William is set to make more money every year as he is now the Duke of Cornwall, who is granted the revenue generated from the Duchy of Cornwall.
Prince William didn't receive a significant inheritance from his mother, Princess Diana, and the Queen Mother, as they knew that he would one day become the Prince of Wales and then the King of England. Prince William is very fortunate that his father, King Charles, built the Duchy of Cornwall up to what it is today, as it generates tons of revenue for the Prince of Wales.
Prince William And Duchess Catherine Will One Day Take The Throne
Prince William and Duchess Catherine are already looking forward to their new titles as Duke and Duchess of Cornwall. Still, the royal couple has one more inheritance to look forward to, and that is when Prince William becomes King of England. It will be some time until Prince William is crowned King as his father, King Charles, is in pretty good health.
But only time will tell as anything could happen. Prince William has mixed emotions about becoming King as he would be losing his dear father in the process of becoming King.
The Royal Couple Have Three Children
Prince William and Duchess Catherine have three children together, which are Prince George of Wales, Princess Charlotte of Wales, and Prince Louis of Wales. Prince George is the oldest and will be the one who inherits both the titles of Duke of Cornwall and the King of England.
Princess Charlotte and Prince Louis will still have royal duties even though they will not be ruling monarchs. It is uncertain if Prince William and Duchess Catherine will be having more children as they have not mentioned it. The royal family plans to stay at Kensington Palace even though they inherited the Duchy of Cornwall.
Prince William Will Not Have A Ceremony For Becoming the New Prince of Wales
When King Charles was named the Prince of Wales, he was given a grand coronation that was held in Wales. Things will be different for Prince William as there will be no grand ceremony to name him Prince of Wales.
The royal family decided not to have an extravagant ceremony as it would cost the royal family a lot of money. This was the first time in British history that the Prince of Wales was given his title without a coronation.
Prince William and Duchess Catherine Created The Royal Foundation
Prince William and Duchess Catherine created the Royal Foundation in 2009, which is a charity organization that helps people suffering from mental health or serious medical condition. The royal couple founded the charity organization as they felt that the country needed to address mental health issues that have been growing rampant in recent years.
Several organizations have worked with the Royal Foundation to help combat mental illnesses that have not been addressed. Now that Prince William has a much larger net worth, don't be surprised if he expands on the Royal Foundation as the royal couple takes their charity work seriously.
Prince William Is Excited To Become The New Prince of Wales
King Charles has been prepping Prince William to become the new Prince of Wales ever since William was born. King Charles knew that he had to teach his son how to manage and care for the Duchy of Cornwall. King Charles set his son up well as the Duchy of Cornwall didn't generate the same amount of money that it does today when King Charles became the Duke of Cornwall.
Prince William has been eager to fill his father's position for the past 50 years. Prince William will make a great Duke of Cornwall because King Charles was there to train him every step of the way.
Prince William's Bright Future
Prince William has a very bright future as he has just received his new title as Duke of Cornwall and will one day become the King of England. Prince William's brother Prince Harry had a different outlook on life and decided to leave the royal family, but Prince William is fully dedicated to the British monarchy.
Being the Duke of Cornwall will open up many opportunities for Prince William as he now has a business to run. Prince William was already a big donator to charities, so his donations will be much more than they were.
Prince William Was Also Given The Title, Earl of Chester
Not only was Prince William given the title of Duke of Cornwall, but he was also granted the title of Earl of Chester. The Earl of Chester was established in 1301 and worked just like the Duchy of Cornwall in most aspects. The Earl of Chester owns several counties in Wales, mostly farmland, which is used to lease the land to generate income.
This is just another thing that Prince William can add to his portfolio as they will generate a considerable amount of money every year. The Earl of Chester is not as large as the Duchy of Cornwall and generates less money.
Duchy of Cornwall
Since Prince William has become the new Duke of Cornwall, he is now fully responsible for everything that goes on in the Duchy of Cornwall. Prince William has a lot to manage, but he isn't alone as he has his wife, Duchess Catherine, who will take over specific duties within the Duchy of Cornwall.
Only time will tell if Prince William and Duchess Catherine will live up to their titles as Duke and Duchess of Cornwall. But it looks like the estate is in good hands as King Charles took his time to train Prince William.