Short answer: Jesus received royal status in stages. He was born as heir to the throne, received the title Prince at his baptism, and was exalted with royal power and dominion after his resurrection.

Discussion: Scripturally, Jesus is first given the title Prince when he was baptized with the Holy Spirit. At the Jordan, He became Christ (meaning anointed in Greek) or Messiah (meaning anointed in Hebrew). Jesus is thus identified as the Anointed Prince in Daniel 9:25 (NASB),  “…from the issuing of a decree to restore and rebuild Jerusalem until Messiah the Prince there will be seven weeks and sixty-two weeks.”  Peter further establishes Jesus as a prince at his crucifixion, “…killed the Prince of life, whom God hath raised from the dead; whereof we are witnesses,” Acts 3:15.

The wise men called baby Jesus a king. Matthew 2:1,2, “…there came wise men from the east to Jerusalem, Saying, Where is he that is born King of the Jews?” As a baby, He was to become the King of the Jews; He was heir to the throne. However, the Apostle Paul reasons, “Think of it this way. If a father dies and leaves an inheritance for his young children, those children are not much better off than slaves until they grow up, even though they actually own everything their father had. They have to obey their guardians until they reach whatever age their father set,” Galatians 4:1,2 (NLT). Mary and Joseph were Jesus’ “guardians” until he reached adulthood. At his baptism, he had the title, Prince.

However, God had not yet given him the princely power to reign on earth. Our Lord taught this in Luke 19:11,12, “…Jesus went on to tell a parable, because He was near Jerusalem, and they supposed that the kingdom of God was going to appear immediately. So He said, ‘A nobleman (Jesus) went to a distant country (heaven) to receive a kingdom for himself, and then return.’” 

Jesus was exalted with power after his resurrection. Matthew 28:18, “And Jesus came and spake unto them, saying, All power is given unto me in heaven and in earth.” Finally, in heaven, Jesus received the kingdom and exaltation. “He is the one whom God exalted to His right hand as a Prince and a Savior, to grant repentance to Israel, and forgiveness of sins.” Acts 5:31 When Jesus establishes God’s kingdom on earth, all mankind will recognize him as the “Prince of Peace.” Isaiah 9:6.