Celebrity Prince Charles King Charles III Will Reportedly Have to Pay Rent to Prince William Ugh, landlords are the worst. By Tessa Petak Tessa Petak Instagram Tessa Petak is a Brooklyn-based writer who helps to cultivate InStyle's illustrious news coverage across a wide range of topics including celebrity, fashion, and entertainment. She also produces and composes celebrity profiles and features for the site and InStyle's digital issues. InStyle's editorial guidelines Published on October 5, 2022 @ 01:37PM Pin Share Tweet Email Apparently, even kings are subject to paying rent, and King Charles III will reportedly owe money to his son, Prince William. Along with the "Prince of Wales" and "Duke of Cornwall" titles, William also inherited the entire Duchy of Cornwall, which generated a whopping $23 million of annual income last year for Charles. William will now be entitled to pocket those surplus earnings. Per the Court Circular, William recently met with the Duchy's finance committee to work through his money plan and responsibilities. According to Hello!, now that William has assumed his new role, he not only receives the Duchy's income, but also the land, buildings, and financial investments. This means King Charles's private home, Highgrove House in Gloucestershire, now technically belongs to William. Ergo, the king will have to fork over the living cost to the duke, which comes out to be an estimated amount of $800,000 per year. Getty Images King Charles III's Coronation Jewels Will Be Worth Nearly $4 Billion Royal reporter Roya Nikkhah weighed in on the matter nothing, "It's an interesting role reversal. As part of the whole shake-up in the hierarchy and the line of succession, William now takes on his father's role of Duke of Cornwall, and with that comes the Duchy of Cornwall. It's an enormous sway, the portfolio of land and property and interests, mostly across the southwest of the country."