Prince George of Cambridge is a member of the British royal family who has a net worth of $500 thousand. He is best known for being the eldest child of Prince William and Catherine which means he will someday be King of England.
Prince George of Cambridge was born in London, England in July 2013. His parents are Prince William, Duke of Cambridge and Catherine, Duchess of Cambridge. Prince George of Cambridge is the third in the line of succession to the British throne. He sits behind his grandfather Prince Charles and his father Prince Williams, and is expected to become king one day. His birth was marked by commemorative coins issued by the Royal Canadian Mint, Royal Mint, and Royal Australian Mint. He was born in St Mary’s Hospital. In 2014 Prince George of Cambridge embarked on his first royal tour along with his parents. His parents are adamant about him growing up as privately as possible. Prince George met President Barack Obama in 2016. The same year, he began his education at the Westacre Montessori School Nursery. His official title and style is His Royal Highness Prince George of Cambridge.
The Duchy of Cornwall
According to British royal law, the eldest child of the reigning monarch inherits possession of the Duchy of Cornwall. This title is essentially a large real estate portfolio that allows the Prince to have a substantial income. The Duchy was established in 1337 by Edward III to provide income for the heir apparent. When Charles becomes King, William will automatically become Prince of Wales and beneficiary of the Cornwall Trust. When William becomes King, George will inherit the trust. And so on.
The U.K. government considers the trust a “crown body” which therefore means its income can not be taxed. The tax-exempt status has been challenged several times and as a result Prince Charles has voluntarily paid taxes on the income since 1993. He voluntarily paid a 50% tax rate on the income for about a decade. He started paying 25% when he got married in 1991. From 1993 to the present he has paid the standard UK income tax rate each year.
The duchy owns 133,000 acres of land in the UK over 23 counties. The land is used for farming, residential housing and commercial real estate. As of 2019, the estimated value of the land is $1.1 billion.
In a typical year the trust produces a little over $20 million in income. In some years the income has topped $30 million.
|Net Worth:||$500 Thousand|
|Date of Birth:||Jul 22, 2013 (8 years old)|
|Place of Birth:||St Mary’s Hospital, London, UK|