by Matt Shine |
Britain's Prince William is preparing to take over the Duchy of Cornwall.
The 31-year-old royal attended a Duchy Council meeting at Clarence House with his father, Prince Charles, this week to better understand the duties he will undertake when his father ascends to the throne and he becomes the Prince of Wales.
The duchy was created in 1337 by King Edward III as a way to provide the royal heir apparent an income.
The Duchy of Cornwall is worth £728 million and includes a portfolio of land and property interests. William will be in charge of 133,658 acres of land across the globe, which is used for farming, residential and commercial interests.
A source told the Telegraph newspaper: "His Royal Highness is helping the Duke to prepare for every aspect of his future role as the Prince of Wales. The Duke appears to be trying to learn as much as he can."
A Kensington Palace spokesperson added: "The Duke of Cambridge recently attended a meeting of the Duchy Council in order to better acquaint himself with, and understand, the work of the Duchy of Cornwall".
Last year, the Duchy of Cornwall generated £28.8 million in profit and earned Prince Charles a £19 million salary.