Prince William is a billionaire, with the Duchy of Cornwall's net assets now valued at £1.2 billion, according to recently released accounts. This valuation positions him as wealthier than his father, King Charles, whose personal fortune was listed at £640 million in the latest Sunday Times Rich List.
In the 2025-26 financial year, William received a private income of £21.6 million from the Duchy, which primarily comprises investment properties. He paid £7.76 million in income and capital gains tax for the 2024-25 period, and £8.34 million for 2023-24. Since becoming Prince of Wales in 2022, he has paid over £20 million in taxes to HMRC.
His tax payment for 2024-25 represented an effective rate of 34 percent on his net surplus income after official expenditures. As heir to the throne, William is entitled to the annual profits from the Duchy, a landed estate spanning 51,800 hectares across 19 counties. This income is utilized to fund the charitable, private, and official activities of William, Catherine, Princess of Wales, and their children.
William, 44, has chosen to voluntarily pay income tax at the highest rate on his net surplus income. He has also decided to forgo personal benefit from the approximately £1.5 million annual rent generated by the former Dartmoor Prison, which has been empty since July 2024 due to high levels of radon gas. Starting from the 2026-27 financial year, this income will be redirected to a community regeneration fund aimed at providing social, economic, and environmental benefits to the nearby town of Princetown.
The Duchy of Cornwall signed a £37 million deal in 2022 to lease Dartmoor Prison to the Ministry of Justice for 25 years and also reached an agreement with the Ministry of Defence for armed forces training on Dartmoor land. Royal aides stated that William's decision to publish his tax figures was a personal one, aimed at increasing transparency, coinciding with King Charles's decision to release his tax bill for the first time as monarch.
Kensington Palace also reported that the number of staff employed by the Prince and Princess of Wales' household has increased to 74, up from 68. Diversity statistics indicate that 14.9 percent of staff come from ethnic minority backgrounds, and 73 percent of Kensington Palace staff are female.