When Prince William became heir to the throne at the death of his late grandmother Queen Elizabeth, he didn’t just take one step closer to his ultimate destiny at the head of the monarchy. He also took control of the massive Duchy of Cornwall.

The estate, encompassing more than 128,000 acres, is run for the Prince of Wales by a team of experts and advisers, including a couple of his closest friends.

Since it was established in 1337, it has historically been land and property that was assigned to the heir to the throne to pay for his or her household and the costs of his family’s public work and staff. The estate is currently valued at more than $1.3 billion and provides Prince William with an annual private income of nearly $31 million. (And it isn’t William’s private fiefdom to do what he wants. When he becomes king, he will pass control over to his eldest son, Prince George, 13 — just like King Charles did for him.)

But Prince William, 44, is using it to proactively further some of the causes and beliefs that underpin his working life. In May this year, it emerged that he has plans to sell off 20% of the estate to fund ambitious housing, nature recovery and renewable energy projects. The Times reported that the future king would raise an estimated $670 million through the sales, with the Duchy refocusing around five key “heartlands,” including Cornwall, Dartmoor, the Isles of Scilly, Bath and parts of London.

The chief executive of the Duchy, Will Bax, said the aim is to shift the estate from being a traditional landholder to a vehicle for delivering a wider social impact.

“If we don’t see an opportunity for positive impact, then perhaps we don’t need to be a part of that place,” Bax told The Times of the plans. “But where there is social need and where there is environmental challenge and where there is an opportunity to enable change, then we’ll be a great partner in working with people to achieve that.”

One of his key ideas is inspired by his broad Homewards project, which is focusing on finding innovative, locally-based answers to tackle homelessness.

“As one of his key priorities for the Duchy of Cornwall, Prince William asked us to address the homelessness challenge within Cornwall and other areas where the estate resides,” Ben Murphy, estate director at the Duchy of Cornwall, said in 2024.

The Duchy is building social housing in Nansledan, Newquay, in Cornwall. There are also plans for a Market Street development in the town, which will see one of the first newly built high streets of its kind in more than a century in the U.K. It is set to be completed in 2028, and will provide commercial space for local artisans, independent businesses and community enterprises.

In nearby Dartmoor, Prince William has directed that the $2 million a year he used to receive in rent from the local prison, which has sat empty since July 2024, be returned to the community through the local Princetown Community Fund. That fund will support “projects delivering lasting social, economic and environmental benefits for local people across Princetown and the surrounding Dartmoor area,” a press release said in September.

It was in Nasledan that Kate Middleton’s Centre for Early Childhood launched a collaboration with the Duchy of Cornwall as they bid to explore how spending time in nature can support the mental well-being and development of young children, as well as those who care for them.

“This project is about exploring how nature, creativity and relationships can best support the healthy development of babies and young children. We believe that taking a whole-child approach is important, and nature becomes a wonderful place to explore how we can successfully nurture the social and emotional skills that underpin lifelong health and wellbeing,” Princess Kate said in a video.

In Cornwall, Prince William and Princess Kate captured images and film of their children — Prince George, Princess Charlotte and Prince Louis — that were released when they celebrated their birthdays this year. The family regularly enjoys holidays on the Isles of Scilly and the Cornwall mainland.