Prince William inherits a property estate worth more than $1 billion.
Created in 1337 by King Edward III, the estate is said to be worth around £1 billion , per financial accounts from the last year. The Duchy of Cornwall encompasses a generous portfolio of land and property, including almost 140,000 acres in southwest England.
Properties make up the lion's share of royal wealth, with the family assets totaling at least £18 billion . As the reigning monarch, King Charles is now the keeper of the Crown Estate, valued at £16.5 billion . However, he is required to hand over all estate profits to the government in exchange for a portion -- dubbed the Sovereign Grant, used primarily to pay staff and maintain the properties -- as part of an arrangement dating back to 1760.
Meanwhile, the Institute for Government website states that the King may only spend the Sovereign Grant money on royal duties and that neither he nor his heir are allowed to benefit from the sale of assets in their duchies. Any profit from said sales would be reinvested back into the estate.
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