King Charles and Prince William’s Estates Accused of Profiting Off Public Funds

An investigation by ‘The Sunday Times’ and ‘Channel 4’ has revealed that the private estates of King Charles III and Prince William are profiting from millions in funds that should support UK charities and public services.

The findings suggest that these royal estates, the Duchy of Lancaster and the Duchy of Cornwall, drain resources from essential services, including the National Health Service (NHS), state-funded schools, and the British Armed Forces.

The report, aired in the documentary The King, the Prince & Their Secret Millions, highlights alarming financial practices associated with the two estates.

King Charles, 75, holds the Duchy of Lancaster, a vast estate with historical roots dating back to the 14th century. It comprises significant land, properties, and assets across the UK.

Meanwhile, Prince William, 42, inherited the Duchy of Cornwall—valued at over $1 billion—when his father ascended the throne in September 2022.

An investigation has found that King Charles and Prince William’s private estates have been rinsing charities and public services in the UK for millions. WireImage

Both estates benefit from tax exemptions, avoiding corporation and capital gains tax. The investigation found that since 2005, William’s estate has received over $28.5 million from rent payments related to Camelford House and an additional $78,000 from St John’s Ambulance, a charity King Charles supports as a patron.

An investigation by the Sunday Times and broadcaster Channel 4 looked into the Duchy of Lancaster and the Duchy of Cornwall — the estates owned by Charles and William. Getty Images

Notably, in June, William visited the MI6 headquarters adjacent to Camelford House, raising questions about the nature of his visit.

Among the allegations, it was found that Charles and William’s private estates have been taking millions from public bodies. Getty Images

Additionally, the investigation uncovered that King Charles’s estate recently secured a deal worth $14.7 million to store a fleet of electric ambulances in its warehouses over 15 years.

Moreover, since 2004, William’s estate has charged the British Navy $1.3 million for constructing jetties and mooring warships in Cornwall. The report also noted that the estates charge fees for river crossings and allow the installation of cables under the beaches they own, generating further income.

Passive revenue streams include tolls, parking lots, and wind turbines. The investigation pointed out a dissonance between William’s environmental initiatives, such as the Earthshot Prize, which aims to promote sustainable practices, and his estate’s profit-driven activities.

The Duchy’s recent $48 million deal to lease Dartmoor Prison to the Ministry of Justice also drew scrutiny. Both estates reportedly generated around $65 million from various deals in the past year.

In response to the investigation, a spokesperson for the Duchy of Cornwall emphasised that it operates as a private estate with commercial objectives while remaining committed to environmental restoration and positive community impact. They highlighted William’s commitment to transforming the Duchy since becoming Duke of Cornwall, with plans to achieve net zero emissions by 2032 and initiatives aimed at mental health support and addressing homelessness in Cornwall.

The Duchy of Lancaster is a private estate owned by the cancer-stricken monarch, 75. Getty Images

Earlier this year, it was revealed that William earned an impressive $30 million from the Duchy of Cornwall for the 2023-2024 financial year, alongside a reported surplus of $30.4 million for the estate.

However, his decision not to disclose his tax payments for this financial year—breaking a tradition upheld by his father for over 30 years—has added to the controversy surrounding the royal finances. ‘The Sunday Times’ and ‘Channel 4’ have contacted Buckingham Palace for further comment.