British royal family gets their money from a variety of sources. One important source that is supported by tax dollars is the Sovereign Grant. The Sovereign Grant was £86.3 million, or about $113 million, for the years 2021–2022 and 2022–2023. The Crown Estate, which is in charge of overseeing substantial holdings of land and property, provides the funding for this grant. But the majority of this money is used to fund staff salaries, upkeep of the royal homes, and planning of more than 2,500 events per year. The estimated £369 million, or around $483 million, refurbishment project for Buckingham Palace, which is scheduled to be finished by 2027, is another significant investment, as per the reports of Yahoo entertainment.
King Charles III earns an annual income of approximately $25 million, as reported. His personal fortune is estimated at $750 million. This income includes the Privy Purse from the Duchy of Lancaster, which holds properties and assets worth around £654 million and generates about £20 million annually.
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Prince William and Kate Middleton, as the Duke and Duchess of Cornwall, benefit from the Duchy of Cornwall’s profits. Last year, Prince William’s earnings from this source totaled $30.4 million. The Duchy of Cornwall provides these funds, which William can use at his discretion, although he cannot sell any estate assets.