Prince William has a net worth of £1.2 billion through the Duchy of Cornwall, surpassing the King’s wealth. Since assuming the title of Prince of Wales, William has paid over £20 million in taxes.
New financial reports have disclosed details about the Sovereign Grant, which is government funding used for official royal expenses, and the personal fortunes of the King and Prince William from the Duchies of Lancaster and Cornwall. Prince William’s assets were revealed to exceed those of his father, with a net worth of £1.2 billion from the Duchy.
In contrast, the King’s personal fortune, as per the Sunday Times Rich List, stands at £640 million, showing an increase of £30 million from the previous year. Both the King and Prince William have made their private tax contributions public, with William paying £7.76 million in income and capital gains tax in 2024-25, and £8.34 million in 2023-24.
Prince William has opted to forego personal benefits from the controversial £1.5 million annual rent generated by Dartmoor Prison. Instead, he plans to allocate these funds towards revitalizing the local community. The abandoned prison, leased to the Ministry of Justice, has been vacant since 2024 due to high levels of radon gas.
A community-led regeneration fund will be initiated to support Princetown, the rural area adjacent to the prison. Addressing the closure’s impact on the community, Prince William’s private secretary emphasized the importance of reinvesting income back into the local populace.
As the heir to the throne, Prince William is entitled to profits from the Duchy landed estate, spanning 51,800 hectares across 19 counties. Additionally, staff numbers at Kensington Palace, where William and Kate reside, have increased to 74 employees, with a rise in diversity among the workforce.
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