Prince William is now richer than his father King Charles with new documents revealing exactly how much the Prince of Wales has paid in tax since claiming the title
Prince William(Photo: Jordan Pettitt/PA Wire)
Prince William’s net worth through the Duchy of Cornwall stands at £1.2 billion, making him richer than King Charles. The future king has also contributed more than £20m in tax since taking the title of Prince of Wales, newly published accounts have revealed.
The figures came to light alongside the publication of the Sovereign Grant accounts – the Treasury funding used by the royal household to cover official duties – as well as details of the monarch’s personal wealth from the Duchy of Lancaster and the Duchy of Cornwall, which Prince William inherited when he became Prince of Wales.
For the first time, the accounts confirmed that William is richer than his father, with a net worth of £1.2bn. via the duchy. The prince received a private income of £21.6 million in 2025-26, according to the latest figures from the Duchy.
In comparison, Charles was listed on the Sunday Times Rich List with a personal fortune of £640m – an increase of £30m on the previous year, Mirror reports.
In a move towards greater financial transparency, both the King and William have revealed their private tax contributions. William paid £7.76m in income and capital gains tax in 2024-25 and £8.34m in 2023-24.
This comes as it emerged that William has decided he will no longer personally fork out the controversial £1.5m annual rent generated by the now derelict Dartmoor prison.
William has requested that the sum be removed from the multimillion-pound income he receives as heir to the throne of the Duchy of Cornwall from 2026-27 onwards, with the funds diverted to regenerate the local community instead.
It emerged in 2024 that the Duchy had signed a £37 million deal in 2022, before Charles became King and William, Prince of Wales, to lease Dartmoor Prison to the Ministry of Justice for £1.5 million a year over 25 years, alongside a deal with the Ministry of Defense to allow the armed forces to train on Dartmoor.
But the category C prison in Devon has been empty since July 2024 following the detection of dangerously high levels of radon, a naturally occurring toxic gas found in soil and rock that can cause lung cancer, in prisoners’ accommodation.
A locally-led regeneration fund is to be launched next year, aimed at delivering social, economic and environmental benefits to Princetown, the outlying village situated next to the prison.
The Prince’s private secretary Ian Patrick said: “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 real uncertainty, not only about jobs and businesses, but about the future of the town itself.
“The Duke felt strongly that while these questions remain unanswered, the benefit of this income should remain in the community and help local people shape that future.”
As next in line to the throne, William is entitled to the annual profits generated by the duchy’s billion-pound country estate, which stretches over 51,800 hectares across 19 counties. He became the 25th Duke of Cornwall almost four years ago.
Meanwhile, Kensington Palace revealed that the number of staff in William and wife Kate’s household has increased to 74, up from 68.
Diversity statistics show that 14.9% of staff were from an ethnic minority background, up from 13.2% the previous year, while 73% of Kensington Palace staff are female and 27% male.
