Prince William’s 2023 salary was revealed this week, showing the royal earned £23.6 million ($51.3m) – most of which comes from the Duchy of Cornwall estate. In light of his impressive income, the Herald examines the net worth of key Royal family figures and how they generate their income.
The royal family is one of the oldest monarchies in the world’s history, and with great history comes great wealth.
While it’s unclear exactly how much the British monarchy is worth, Forbes has estimated that The Firm has a wealth of £21.3b ($46.3b), with the Crown, the estate which manages the monarchy’s property having an estimated value of £15.6b.
Along with the monarchy’s impressive worth, it seems each member of the family has their own eye-watering personal wealth – including Prince Harry and Meghan Markle, who resigned from royal duties in 2020 and were effectively cut off from receiving an allowance.
Here is the estimated net worth of each key member of the royal family:
King Charles
It may come as no surprise that the 75-year-old monarch is considered the richest member of the royal family. According to the Sunday Times Rich List he has an estimated net worth of £610m ($1.3b). However, other outlets have speculated his riches may be far more than that and closer to £1.6b ($3.4b) when the assets inherited as monarch are considered.
While it is unknown exactly how much inheritance Charles and other members of the family received from Queen Elizabeth II when she died due to her will being sealed for 90 years, as heir to the throne, Forbes reported the King likely inherited at least £387m in personal assets from his mother.
Elsewhere, Charles has an impressive real estate portfolio, which includes both the family’s Sandringham and Balmoral estates, and he receives what is known as a “Sovereign Grant” to support the King’s “official business” according to the British Government’s official website.
While he also inherited an estimated £7.3b real estate portfolio, which includes Buckingham Palace, he does not technically own the lands and could not sell them as they are held in trust for future kings and queens.
Queen Camilla
Net worth: £3.8 million ($8.2m)
The Telegraph has reported that the King’s wife has an estimated net worth of £3.8m ($8.2m). Her portfolio includes property purchased in 1996 following her divorce from her ex-husband, Andrew Parker Bowles.
The Queen is also understood to have received a healthy £500,000 ($1m) inheritance from her grandparents following their deaths.
Prince William
Net worth: £100 million ($217m)
The father of three and future heir to the throne is worth £100m ($217m), according to the net worth website Celebrity Net Worth. However, the figure has been debated by a number of news publications, including the Daily Express which claims William is worth £1b ($2.18b) following his father’s ascension to the throne.
The large disparity is put down to the 52,449ha estate known as the Duchy of Cornwall of which spans 20 countries and “funds the public, charitable, and private activities of the Prince of Wales and his family”.
Forbes reported the estate is estimated to be worth nearly £1b and generated £23.6 million ($51.3m) in profits over the last financial year. William is understood to pay income tax on the profits, minus an undisclosed amount of household costs.
William has also acquired his wealth from a number of other places. The Telegraph reported he inherited almost £10m ($21.7m) when he turned 30, from his mother, Princess Diana’s trust, as well as a number of valuable pieces from her personal jewellery collection.
Princess Kate
Net worth: £7.7 million ($16.7m)
According to the net worth site Celebrity Net Worth, the Princess of Wales is estimated to be worth approximately £7.7m ($16.7m), mostly due to her role as a working royal.
However, the mother of three is from a relatively well-off family. Before marrying into the royal family, she worked for her parents’ company. According to Time Magazine, Party Pieces, where Kate worked as an accessory buyer, was worth £30m ($65.2m) when she wed William in 2011.
According to Radar Online, the princess also inherited a considerable amount of jewellery from the late Queen.
Prince George
Net worth: £2.9 billion ($6.3b)
Despite only being 11, the young prince who is William and Kate’s eldest child and second in line for the throne, is reportedly worth billions of dollars already.
Readers Digest reported George has an estimated net worth of approximately £2.9b ($6.3b) due to an inheritance of 133,000 acres of land he received at birth which spans 23 UK counties. Elsewhere, George will inherit his father’s billion-dollar Duchy of Cornwall estate when William becomes king.
Princess Charlotte
Net worth: £3.92 billion ($8.4b)
She may be third in line for the throne and thus misses out on inheriting the Duchy of Cornwall, but Charlotte is no pauper and reportedly has a net worth significantly higher than both of her brothers.
According to Readers Digest, the 9-year-old is worth a jaw-dropping £3.92b ($8.4b), and it’s mostly thanks to the Princess Charlotte Effect. Research conducted by Electric Ride on Cars last year, which has been widely cited by world media, found Charlotte ranks as the world’s richest child.
But this doesn’t exactly mean that’s what their bank accounts hold. InStyle has reported the value was calculated based on estimated economic influence over their lifetimes, not real dollars. Essentially, it means Charlotte has more economic sway than George, as many items she has been seen wearing have quickly sold out or seen huge sale increases – much like her mother.
Prince Louis
Net worth: £55 – £98 million ($119m – $213m)
Known for the fun flair he brings to his royal outings and youngest of the Wales children, Louis is estimated to be worth between £55m ($119m) and £98m ($213m).
As fourth in line for the throne, the little prince is eligible for a dukedom upon marriage. History says the monarch’s second eldest son may earn the title Duke of York. Currently, the title belongs to Prince Andrew, so Louis will only be able to occupy it when his father becomes King and if Andrew is no longer in the role.
Prince Harry
Net worth: £46.4 million ($100m)
He’s no longer a working royal but Prince Harry still has an impressive net worth of £46.4m ($100m). Like his brother, he reportedly inherited almost £10m ($21.7m) from his mother when he turned 30. The Duke of Sussex is also understood to have inherited a large sum from the Queen Mother.
The Sun reported £19m ($41.3m) was placed into a trust for her great-grandchildren, with £6m ($13.6m) of this trust reportedly being inherited by Harry when he was 21 in an effort to “compensate for not becoming sovereign”.
It’s understood that when the great-grandchildren, which also includes Princess Beatrice and Princess Eugenie, turn 40, they will receive a further £8m ($17.4m) to split between them.
Upon parting ways with the royal family, Harry signed a deal with Penguin Publishing for his memoir, Spare and the Daily Mail reported he was given a £16m ($34.8m) advance. Elsewhere, he and his wife Meghan Markle signed a US$100m ($168m) deal with Netflix, as well as a $30m ($50.5m) deal with Spotify.
Meghan Markle
Net worth: £46.4 million ($100m)
According to Celebrity Net Worth, much like her husband, Meghan Markle is worth an estimated £46.4m, ($100m) mostly due to the fact she and Harry embark on most of their business ventures together.
Before marrying Harry in 2018 and becoming the Duchess of Sussex, Meghan had made an impressive amount of money with her own merits. Starring in Suits as Rachel Zane, the Sun reported she earned £500,000 ($1m) during her time on the show. She was estimated to be worth £3.5 million ($7.6m) when she wed Harry.
Meghan’s current net worth reportedly includes a 60-piece jewellery collection – some of which once belonged to Princess Diana. She also co-signed with Harry on the multimillion-dollar deals with Netflix and Spotify, and the couple also owns their estate in Montecito, California, which is estimated to be worth £11.3m ($24.5m).
Prince Archie and Princess Lilibet
Net worth: Unknown
Figures on Archie Harrison and Lilibet Diana Mountbatten-Windsor’s estimate net worths are hard to come by, however, when the first of Harry and Meghan’s children was born, Good Housekeeping reported Archie would generate approximately about £1.1 billion ($2.3b) to the UK economy over a two-year period. The sum included multiple ways this could happen, including, like his cousins, the sale of clothes he was seen wearing.
Princess Anne
Net worth: £7.75 million ($16.8m)
According to the celebrity wealth website Celebrity Net Worth, the royal, who prefers to fly under the radar, is worth an estimated £7.75m ($16.8m).
As the only daughter of Queen Elizabeth and Prince Philip, Princess Anne works hard to earn her keep. Having been named as one of the busiest and most hard-working royals, she attended a total of 457 engagements in 2023 and 2014 in 2022, more than any other in her family, according to The Telegraph, meaning the Sovereign Grant covers a majority of her expenses.
In addition to her strong work ethic, the Princess Royal’s necklace and tiara collection contributes to her wealth and is reportedly worth almost £1m ($2.18m).
Other assets include her London residence St James’s Palace and Gatcombe Park in Gloucestershire which her mother purchased for her in 1976.
Prince Andrew
Net worth: £3.87 million ($8.2m)
Prince Andrew’s finances have become an open book in recent years amid claims his brother, the King, is attempting to kick him out of his home, the Royal Lodge, due to Andrew being unable to pay for the maintenance of the residence.
According to Celebrity Net Worth, the royal is worth an estimated £3.87m ($8.2m). His wealth comes from his £249,000 ($541,989) annual allowance and his armed forces pension, which the Daily Express reports comes in at £20,000 ($43,533) a year.
Andrew was accused of sexual assault by Virginia Roberts Giuffre in 2022 and reportedly paid an out of court £12million settlement. He has since seen a breakdown of his reputation and status as a working royal.
Prince Edward
Net worth: £7.75 million ($16.8m)
He is King Charles’ youngest brother and, like his sister, tends to keep a low but busy profile. Celebrity Net Worth states that the royal’s wealth sits at £7.75m ($16.8m).
As a working royal, Edward is Vice-Patron of the Commonwealth Games Federation and just last year, was announced as the new Duke of Edinburgh, taking over from his late father, Prince Philip, who died in 2021.
Edward currently resides at Bagshot Park in Surrey, an estate leased from The Crown Estate. He receives an income from the Sovereign Grant and has many of his expenses covered through the grant; however, the exact amount is unknown.
Lillie Rohan is a London-based reporter covering lifestyle and entertainment stories who joined the Herald in 2020. She specialises in all things reality TV, films and music.
