Prince William is wealthier than King Charles, with a net worth of £1.2 billion through the Duchy of Cornwall, and has paid more than £30 million in tax since becoming Prince of Wales, newly released figures reveal.
Duchy of Cornwall Wealth
The Duchy of Cornwall, which Prince William inherited upon becoming Prince of Wales nearly four years ago, has assets valued at £1.2 billion. In 2025-26, the prince secured a private income of £21.6 million from the Duchy, according to the latest records. This marks the first time the heir apparent's wealth has been disclosed as greater than that of his father.
By comparison, King Charles was listed in the Sunday Times Rich List with a personal fortune of £640 million, a rise of £30 million from the previous year. The King's wealth comes primarily from the Duchy of Lancaster, a separate landed estate.
Tax Contributions
In a move toward greater transparency, both the King and Prince William have disclosed their private tax contributions. William paid £7.76 million in income and capital gains tax in 2024-25 and £8.34 million in 2023-24, according to reports from the Mirror. Since becoming Prince of Wales, his total tax payments exceed £30 million.
The Sovereign Grant, the Treasury funding used by the royal household for official duties, was also released alongside these figures.
Dartmoor Prison Rental Income Redirected
Prince William has decided not to personally profit from the controversial £1.5 million annual rental income generated by the derelict Dartmoor Prison in Devon. Instead, he has requested that this sum be deducted from his Duchy of Cornwall income from 2026-27 onwards and directed to a community-led regeneration fund.
In 2022, before Charles ascended the throne, the Duchy signed a £37 million deal to lease Dartmoor Prison to the Ministry of Justice, with an annual payment of £1.5 million over 25 years. The prison, a category C facility, has been vacant since July 2024 after high concentrations of radon gas were detected in prisoners' living quarters. Radon, a naturally occurring harmful gas, can lead to lung cancer.
The regeneration fund, set to launch next year, aims to deliver social, economic, and environmental benefits to Princetown, the remote rural community near the prison.
Prince William's private secretary, Ian Patrick, stated: "Prince William knows that for many people in Princetown, the prison has long been part of the fabric of the community. Its closure has created genuine uncertainty, not just about jobs and businesses, but about the future of the town itself. The duke felt strongly that, while those questions remain unanswered, the benefit of this income should remain in the community, helping local people shape that future."
Kensington Palace Staff and Diversity
Kensington Palace has also reported an increase in staff employed by William and his wife Kate's household, rising from 68 to 74. Diversity statistics show that 14.9% of staff come from an ethnic minority background, up from 13.2% the previous year. Additionally, 73% of Kensington Palace staff are female, with 27% male.
