Prince William‘s new property has a value match for a king.
The Duke of Cornwall and Cambridge, who has inherited the title of Prince of Wales after the passing of Queen Elizabeth II on Sept. 8, has additionally inherited land within the household title with a hefty worth.
William, 40, is now in possession of the non-public Duchy of Cornwall property, which was beforehand within the palms of his father, King Charles III, per CNN Business. The non-public property, which was created in 1337, is reportedly value about $1.2 billion.
According to the Duchy’s website, the property—which funds the actions of the Prince of Wales and his household—was based by King Edward III for his son Prince Edward. And since its creation, the Duchy’s royal actual property portfolio now holds 52,449 hectares of land spanning 20 counties.
Per the Duchy, the Queen took a “eager curiosity” within the property throughout her father, King George VI‘s reign and at first of her personal time on the throne.