As heir to the throne, the King’s eldest son is entitled to the surplus created by the Duchy’s large portfolio of land, buildings and financial investments.
When in the role, Charles used the Duchy income to pay for official duties, the London office and charity work, along with the public duties of the Duke and Duchess of Cambridge and some of William and Kate’s private expenses.
He will have done the same for the Duke and Duchess of Sussex from his 2019-20 income.
In the 2019-20 financial year, Charles’ annual private income from the estate rose by £617,000 – 2.9 per cent – from £21,627,000 in 2018-19 to £22,244,000.
The total value of Dukat’s assets – which amount to more than £1bn – has fallen by almost £29m.
It fell from £1,099,748,000 to £1,070,809,000, but a report said valuation experts were taking into account the uncertain property market and had mentioned that less security and a higher degree of caution should be attached to valuations.
Duke said the volatility and uncertainty posed “no short-term or long-term financial threat” to the asset values of its properties.
The private estate was created in 1337 by Edward III to support his son and heir Prince Edward, known as the Black Prince, and all his subsequent heirs.
It spans 23 counties in England and Wales and includes the Oval cricket ground and 67,000 acres of Dartmoor.
