Since being named Duke of Cornwall after the death of Elizabeth II, Prince William has also owned an estate of more than 518 km² valued at R$ 6 billion.
The Duchy of Cornwall became private property in 1337, and has since belonged to the eldest son of the reigning king or queen. Last year, the land yielded R$125 million to the then Prince Charles.
As a member of the royal family, the Duke of Cornwall is exempt from UK taxes. Since 1993, Charles has voluntarily paid income tax on the land, but over the years sections of British society have argued that taxation should be mandatory.
The Duke of Cornwall is responsible for the administration of the estate, which includes farms, residential areas and forests. According to The Guardian, William has spent the last few years preparing to take on the role, and has participated in several board meetings.
Princes can only assume the title (and gain full access to income from the land) at age 21. Charles was the longest-serving Duke: in 2019, he turned 50 as Duke of Cornwall.
On the duchy’s website, it is said that the income received by Charles in recent decades was used to fund his “public, private and charitable” activities.