Prince William is now richer than his father King Charles, with new documents revealing how much the Prince of Wales has paid in tax since claiming the title.
Prince William(Image: Jordan Pettit/PA Wire)
Prince William’s net worth till nowDuchy of Cornwall Is worth £1.2 billion which makes him even richer King Charles. Newly published accounts have revealed the future king has contributed more than £20million in tax since taking the title of Prince of Wales.
The figures emerged with the publication of the Sovereign Grant accounts – Treasury funding used by the royal family to carry out official duties – as well as details of the king’s personal assets from the Duchy of Lancaster and the Duchy of Cornwall, which Prince William Inherited upon becoming Prince of Wales.
For the first time, accounts confirm that William is richer than his father, with his net worth through the duchy estimated at £1.2 billion. According to the latest Duchy figures, the prince is set to receive a personal income of £21.6m in 2025-26.
By comparison, Charles was listed in the Sunday Times Rich List with a personal fortune of £640 million – an increase of £30 million on the previous year. mirror Report.
In a step towards greater financial transparency, both the King and William have disclosed their personal tax contributions. William paid £7.76 million in income and capital gains tax in 2024–25 and £8.34 million in 2023–24.
It comes after it emerged William has decided he can no longer personally afford the controversial £1.5million annual rent generated by the abandoned Dartmoor prison.
William has requested that the amount be removed from the millions of pounds of income he will receive as heir to the throne from the Duchy of Cornwall from 2026-27 onwards, with the money instead redirected to regeneration of the local community.
In 2024 it emerged that before Charles became King and William became Prince of Wales in 2022, the Duchy had signed a £37 million deal with the Ministry of Defense to lease Dartmoor Prison to the Ministry of Justice for 25 years at £1.5 million per year, allowing the armed forces to train on the Dartmoor land.
However, the Category C prison in Devon is to lie empty from July 2024 after dangerously high levels of radon, a naturally occurring toxic gas found in the soil and rocks that house prisoners, which can cause lung cancer, were detected.
A community-led regeneration fund will be launched next year, aiming to deliver social, economic and environmental benefits to Princetown, the remote rural village next to the prison.
Ian Patrick, the Prince’s private secretary, said: “Prince William knows that for many people in Princetown, the prison has long been part of the fabric of the community. Its closure creates real uncertainty not only about jobs and businesses, but also about the future of the town.”
“The Duke felt strongly that, although those questions remain unanswered, the benefits of this income should remain in the community, helping local people shape the future.”
As the next claimant to the throne, William is entitled to annual profits generated from the billion-pound Duchy land estate, which extends to 51,800 hectares across 19 counties. He became the 25th Duke of Cornwall about four years ago.
Meanwhile, Kensington Palace revealed that the number of staff at William and wife Kate’s household has increased from 68 to 74.
Diversity figures show that 14.9% of staff were from ethnic minority backgrounds, up from 13.2% the previous year, while 73% of Kensington Palace staff are women and 27% are men.
Leave a Reply