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Is Prince William richer than King Charles? New royal accounts reveal billionaire status, tax payments
Newly released royal financial documents show Prince William’s Duchy of Cornwall is valued at £1.2 billion.
Prince William is now wealthier than his father, King Charles III, according to newly released royal financial documents that detail the finances of the Duchy of Cornwall and reveal the amount of tax the Prince of Wales has paid since inheriting the estate.
The figures were published alongside the latest Sovereign Grant accounts, which outline taxpayer funding for the Royal Household, as well as annual reports for the Duchy of Lancaster and the Duchy of Cornwall.
According to the newly released Duchy of Cornwall accounts, Prince William received a private income of £21.6 million during the 2025-26 financial year. The estate through which he earns that income is now valued at approximately £1.2 billion, making him wealthier than King Charles, whose personal fortune was recently estimated at £640 million by The Sunday Times Rich List.
How much tax has Prince William paid?
The latest disclosures also reveal Prince William's tax payments for the first time as part of a broader push for greater financial transparency within the Royal Family.
According to the published figures, the Prince of Wales voluntarily paid £7.76 million in income and capital gains tax for the 2024-25 financial year, following a payment of £8.34 million in 2023-24.
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Combined with earlier payments since becoming Prince of Wales in 2022, the total tax paid by William has now exceeded £20 million, according to the accounts.
What is the Duchy of Cornwall?
Prince William inherited the Duchy of Cornwall after King Charles III ascended the throne in 2022, automatically becoming the 25th Duke of Cornwall.
The Duchy is a private landed estate spanning around 51,800 hectares across 19 counties in England. It provides an annual private income to the heir to the British throne but is separate from the Sovereign Grant, which funds official royal duties.
The new accounts also reveal that Prince William has decided not to personally benefit from around £1.5 million in annual rental income generated by the former Dartmoor Prison site from the 2026-27 financial year onward.
According to the Duchy, the money will instead be directed toward a new community-led regeneration fund for Princetown in Devon following the prison's closure.
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The prison, located on Duchy-owned land, has remained empty since July 2024 after elevated levels of naturally occurring radon gas were detected in prisoner accommodation.
The annual reports also show that staffing at Kensington Palace has increased, with Prince William and Princess Kate's household employing 74 staff, up from 68 the previous year. The figures state that 14.9% of employees are from ethnic minority backgrounds, compared with 13.2% a year earlier, while women account for 73% of the workforce.
