Prince William has a net worth of £1.2 billion through the Duchy of Cornwall, surpassing the King in wealth. Since assuming the title of Prince of Wales, William has paid over £20 million in taxes, according to recent disclosures.
The revelation came alongside the publication of the Sovereign Grant accounts, detailing the funding from the Treasury used by the royal household for official duties. Both the King’s personal fortune from the Duchy of Lancaster and the Duchy of Cornwall, inherited by Prince William upon becoming Prince of Wales, were also disclosed.
For the first time, it was unveiled that Prince William is wealthier than his father, with a net worth of £1.2 billion through the Duchy. The latest Duchy accounts showed that the prince received a private income of £21.6 million in the 2025-26 period.
In contrast, the Sunday Times Rich List listed Charles with a personal fortune of £640 million, marking a £30 million increase from the previous year.
In a move towards transparency regarding royal finances, both the King and Prince William disclosed their private tax payments. Records indicate that William contributed £7.76 million in income and capital gains tax in 2024-25, and £8.34 million in 2023-24.
Additionally, it was revealed that Prince William has opted not to personally benefit from the £1.5 million annual rent generated by the abandoned Dartmoor Prison. Instead, he has requested that the sum be redirected from his Duchy of Cornwall income to aid in revitalizing the local community.
The duchy had previously signed a £37 million deal in 2022 to lease Dartmoor Prison to the Ministry of Justice, paying £1.5 million annually over 25 years, and made an agreement with the Ministry of Defence for the armed forces to train on Dartmoor land.
However, due to safety concerns related to high levels of radon, the prison has been vacant since July 2024. A community-led regeneration fund is set to launch next year to provide social, economic, and environmental benefits to Princetown, the rural community neighboring the prison.
Prince William’s private secretary, Ian Patrick, emphasized the significance of supporting the local community in the wake of the prison closure. As the 25th Duke of Cornwall, William is entitled to the annual profits from the billion-pound Duchy landed estate, spanning 51,800 hectares across 19 counties.
Meanwhile, Kensington Palace reported an increase in staff numbers, with 74 individuals currently employed by William and his wife Kate’s household, up from 68. Diversity figures showed a rise in ethnic minority representation among staff, with 14.9% coming from such backgrounds, compared to 13.2% the previous year. Additionally, 73% of Kensington Palace staff are female, while 27% are male.