Prince William and Kate Middleton had plenty to celebrate this week after new figures highlighted the financial success of their ever-growing charity. Despite a tumultuous year marred by COVID-19, the royal couple’s charity, The Royal Foundation, enjoyed unprecedented success.
Income for their joint venture reported a leap from £6.7million in 2019 to £20.4million in 2021, allowing it to almost double its charitable spending to £16.4million. Formed on 29 September 2009, The Royal Foundation used its increased charitable expenditure to bolster its key programmes. In terms of conservation, Prince William and Kate injected a sizeable amount of their charity’s income into both The Earthshot Prize and United for Wildlife.
In addition to this, the royal duo pumped extra cash into their Centre for Early Childhood, Emergency Responders and various mental health-related projects. The prestigious Earthshot Prize accounted for the highest amount of charitable expenditure (£12.1million) which included the cost of five £1million prizes awarded to the winners. These were awarded as grants to the winners in 2022 and will be paid out over a period of up to three years.
Prince William and Kate’s charity success comes after the Duke and Duchess of Sussex cut ties with the royal family in favour of greater privacy. Back in January 2020, Prince Harry and Meghan announced their decision to “step back” as senior members of the royal family. The duo now split their time between their $14million Montecito home and their residence in the UK.
Their departure from the royal family coincided with a notable change to The Royal Foundation. Despite the charity’s decision to grant half of the net future proceeds received by the Diana Fund (absorbed by The Royal Foundation) to the Sussex Royal Foundation, Prince Harry and Meghan opted to dissolve their Sussex charity in 2020 in favour of their own Archewell foundation.