The Duchy of Cornwall-which provided the income for Charles and Camilla before they became King and Queen Consort-is funded through the ownership and operation of land in rural and urban areas, as well as islands and rental cottages in Wales, Cornwall and other areas in the United Kingdom. After his father became king, William is now the heir apparent to the British throne, making Kate the next Queen Consort.Īs the new Prince and Princess of Wales, William and Kate receive a majority of their income from a private estate called the Duchy of Cornwall, which was established in 1337 to financially support the heir to the throne, according to CNN. How does Kate Middleton make money? Kate and her husband, Prince William, were named the Princess and Prince of Wales after William’s father, King Charles III, became the new King of the United Kingdom and the 14 Commonwealth realms following the death of Queen Elizabeth II in September 2022.
