According to a report by the Sunday Times, the British King is reportedly profiting from a concealed property empire worth millions. Uncover the details of this alleged private wealth and its implications for the monarchy.
According to the Sunday Times, King Charles III of Britain and his son Prince William hold contracts with various UK taxpayer-funded public services, charities, government departments, and even a prison. These agreements reportedly generate millions for them annually. This income is separate from the sovereign grant that they receive from the government.
In 2023, the Duchy of Lancaster and the Duchy of Cornwall—referred to as Charles’s and William’s “private fiefdoms”—generated £27.4 million (over $35 million) and £23.6 million ($30 million), respectively, for the British royal family. This information was uncovered through a joint investigation conducted by a newspaper in collaboration with Channel 4’s Dispatches program.
The paper reported on Saturday that they investigated the royal addresses to reveal business contracts, uncovering how the duchies generate income “through a combination of commercial rents and feudal levies on land primarily acquired by medieval monarchs.”
The investigation, known as the “Duchy Files,” alleges that King Charles and Prince William impose fees for activities such as crossing rivers, unloading cargo onto shores, running cables beneath their beaches, operating schools and charities, and even digging graves.
According to The Times, their revenue sources include toll bridges, ferries, sewage systems, churches, village halls, pubs, distilleries, gas pipelines and storage facilities for boats. Additionally earning from both opencast and underground mines as well as car parks have been noted alongside income generated through rental properties such wind turbines also contributes significantly too!
According to the investigation, approximately 5,410 landholdings and properties are owned by the royal duchies.
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For example, an agreement with an NHS foundation trust is expected to pay the King’s Duchy of Lancaster £11 million ($14 million) over 15 years for leasing a warehouse designated for ambulances.
According to The Times, Prince William’s Duchy of Cornwall earns £1.5 million ($1.9 million) annually from the Ministry of Justice for utilizing Dartmoor Prison. Additionally, as Colonel-in-Chief of the Army Air Corps, he charges the military “for permission to train” on his 67,500 acres in Dartmoor; however, this amount remains undisclosed.
According to the report, the estates also lease more than 900 residential homes and farms to tenants.
According to the paper, both duchies, founded in the 14th century, function as commercial landlords but are not required to pay tax on their corporate profits. The King and Prince choose to voluntarily pay income tax at the highest rate of 45%. In his most recent publicized tax filings for 2022, King Charles paid taxes equivalent to 25% of £23 million ($30 million) in duchy profit after deducting expenses he deemed related to his official duties, as noted by The Times.
According to the paper, the “Duchy Files” investigation represents the first instance where a comprehensive list of property holdings for both royal estates has been made publicly available. It also notes that access to this information had previously been withheld from even the British Parliament.
“The historic property empires supporting the King and the Prince of Wales have been kept as closely guarded secrets by the royal family and its select group of advisers for centuries,” it asserted.
The two duchies operate independently from the Crown Estate, which is a large property enterprise owned by the British monarch but managed separately. Due to its increasing profits, the taxpayer-funded sovereign grant that covers official royal duties will increase from £86.3 million ($111 million) in 2024-25 to £132 million ($170 million) in 2025-26.
