Yearly 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 he paid in tax has been revealed for the first time22:00, 25 Jun 2026Updated 22:17, 25 Jun 2026Prince William is richer than the King with a net worth via the Duchy of Cornwall of £1.2billion - and has paid more than £20million in tax since becoming Prince of Wales, it has been revealed.‌It emerged as accounts were published for the Sovereign Grant - the funding from the Treasury that is used by the royal household to pay for official duties - as well as the King’s personal fortune from the Duchy of Lancaster and the Duchy of Cornwall, which Prince William inherited when he became Prince of Wales.‌The figures showed for the first time that future king William is richer than his father, with a net worth via the Duchy of £1.2billion. The prince received a private income of £21.6 million in 2025-26, the latest Duchy accounts showed.‌In contrast, Charles was listed in the Sunday Times Rich List as having a personal fortune of £640 million - an increase of £30 million from the previous year.In a bid to be more transparent with the way the royal family is funded, the King and William have revealed their private tax payments. Figures show William contributed £7.76m in income and capital gains tax in 2024-25, and £8.34m in 2023-24.‌It comes as it has been revealed that William has decided he will no longer personally benefit from the controversial £1.5million annual rent generated by the abandoned Dartmoor Prison.William has asked for the sum to be removed from the multimillion-pound income he receives as heir to the throne from the Duchy of Cornwall from 2026-27 onwards, with the money spent on regenerating the local community instead.‌In 2024 it emerged the duchy signed a £37million deal in 2022, before Charles became King and William the Prince of Wales, to lease Dartmoor Prison to the Ministry of Justice, paying £1.5 million a year over 25 years, and a deal with the Ministry of Defence to allow the armed forces to train on Dartmoor land.But the category C prison in Devon has been empty since July 2024 after high levels of radon, a toxic gas that occurs naturally in soil and rocks and can cause lung cancer, were recorded in prisoners’ accommodation.A community-led regeneration fund will be launched next year to offer social, economic and environmental benefits to Princetown, the isolated rural community 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 genuine uncertainty, not just about jobs and businesses, but about the future of the town itself.“The duke felt strongly that, while those questions remain unanswered, the benefit of this income should remain in the community, helping local people shape that future.”‌As heir to the throne, William is entitled to the annual profits from the billion-pound Duchy landed estate, which covers 51,800 hectares across 19 counties. He became the 25th Duke of Cornwall nearly four years ago.Meanwhile, Kensington Palace said the number of staff employed by William and wife Kate’s household has risen to 74 from 68. Diversity figures show of 14.9% of staff were from an ethnic minority background, up from 13.2% of staff the year before, and that 73% of Kensington Palace staff are female and 27% male.Article continues below