Prince William is now a billionaire and richer than the King – as new documents reveal taxes paid

Annual accounts have been published for the Duchy of Cornwall, which Prince William inherited when he became heir to the throne four years ago – and the amount paid in tax has been revealed for the first time

Prince William is richer The monarch has a net worth of £1.2billion through the Duchy of Cornwall – and has paid more than £20million in tax since becoming Prince of Wales, it has been revealed.

It emerged when accounts were published for the Sovereign Grant – funds from the Treasury that are used by the Royal Family to pay official duties – as well as the King’s personal assets from the Duchy of Lancaster and the Duchy of Cornwall, which Prince William He inherited it when he became Prince of Wales.

The figures reveal for the first time that future King William is richer than his father, with his net worth through the duchy hitting £1.2bn. The latest Duchy accounts show the prince received a personal income of £21.6 million in 2025-26.

In contrast, Charles was listed Sunday Times Rich List Having a personal wealth of £640 million – an increase of £30 million from the previous year.

In an effort to make the method more transparent royal family The King and William have disclosed their personal tax payments. The figures show William contributed £7.76m in income and capital gains tax in 2024-25 and £8.34m in 2023-24.

It has been revealed that William has decided that he will no longer personally benefit from the controversial £1.5 million annual rent generated by the abandoned Dartmoor Prison.

William has called for the amount to be removed from the millions of pounds of income he receives as heir to the throne from the Duchy of Cornwall from 2026-27 onwards, with the money instead being spent on regeneration of local communities.

In 2024 it emerged that the Duchy had signed a £37 million agreement to pay £1.5 million per year over 25 years to lease Dartmoor Prison to the Ministry of Justice in 2022, before Charles became King and William became Prince of Wales. Ministry of Defence to allow armed forces For training on Dartmoor land.

But the Category C prison in Devon is vacant from July 2024 after high levels of radon, a toxic gas that is naturally found in soil and rocks and can cause lung cancer, were recorded in inmate accommodation.

A community-led regeneration fund will be launched next year to deliver social, economic and environmental benefits to Princetown, the isolated rural community 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 heir to the throne, William is entitled to annual profits from the billion-pound Duchy land estate, which covers 51,800 hectares in 19 counties. He became the 25th Duke of Cornwall about four years ago.

Meanwhile, Kensington Palace said the number of staff employed by William and wife Kate’s family has increased from 68 to 74. Diversity figures show that 14.9% of staff were from ethnic minority backgrounds, up from 13.2% a year earlier, and 73% of Kensington Palace staff are women and 27% are men.