King Charles’ tax details are back in focus after new royal accounts reportedly showed Prince William is now wealthier than his father.
Metro reported that William now has a net worth of £1.2billion through the Duchy of Cornwall. He inherited it after becoming heir to the throne four years ago.
The yearly accounts for the Sovereign Grant also show William has paid more than £20million in tax since becoming Prince of Wales.
The figures reportedly mark the first time William has overtaken King Charles in wealth. William received a private income of £21.6million in 2025-26.
By contrast, the Sunday Times Rich List put Charles’ personal fortune at £640million in 2025. Earlier this year, the publication claimed the king’s fortune is at £680million.
Why King Charles tax questions suddenly matter more
The Sovereign Grant is Treasury funding for the royal household. It helps cover official duties.
Metro said the latest disclosures form part of a wider push for transparency around royal funding. That has put King Charles tax questions under a brighter spotlight.
The Duchy of Cornwall is a private estate that provides income for the heir to the throne. It is separate from the Crown Estate and has traditionally passed to the eldest son of the monarch who is also heir.
- It dates back to the 14th century.
- Its portfolio includes land, residential property, commercial property and other assets.
- The income is used to fund the public, private and charitable activities of the Prince of Wales and family.
- The duchy itself is not the same as a personal salary, which is why its tax treatment often draws attention.
Both Charles and William revealed their private tax payments as part of that effort. The new figures give a clearer look at royal finances.
Figures show William paid £7.76million in income and capital gains tax in 2024-25. He also paid £8.34million in 2023-24.
Those numbers add context to the wider debate about royal money. They also sharpen interest in how the monarchy explains its finances.
Metro also reported that William will no longer personally benefit from the controversial £1.5million annual rent from the abandoned Dartmoor Prison.
That decision adds another layer to the financial update. The report does more than compare fortunes.
The palace move that never happened changed the picture too
The money news arrived alongside another major royal property update. King Charles and Queen Camilla will not move into Buckingham Palace once refurbishments are done.
That decision stands despite £370million in refurbishment work due to finish next year. The 10-year renovation project is now close to completion.
Royal tax arrangements have been debated for years because some payments are governed by convention or voluntary agreements rather than a straightforward legal requirement.
- Senior royals have at times paid tax voluntarily on some income.
- Different royal income streams can be treated differently for tax purposes.
- Debate often centres on transparency, including what is disclosed publicly about income and deductions.
- Reports about the Duchy of Cornwall and the monarch’s finances regularly renew scrutiny.
A palace spokesperson said: “His Majesty retains huge affection for Buckingham Palace and a deep respect for its role in royal and public life.”
The spokesperson added: “It will be a buzzing hive of royal activity in every other way.”
According to the report, Charles has decided Clarence House will remain his official London residence for the rest of his reign. Buckingham Palace will still remain “monarchy HQ”.
William has also stayed in the public eye. Earlier this month, he appeared at Royal Ascot with the Princess of Wales.
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The couple arrived at the Berkshire event in a carriage. They then greeted crowds.
Taken together, the latest disclosures offer a rare look at royal finances and property decisions. They also show the growing scale of William’s inherited wealth as he moves closer to the throne.