A look at the British Royal Family’s wealth, taxpayer-funded support, royal estates and income sources. (Photo: Facebook)
The Sovereign Grant, which funds the King’s official duties, stands at £137.9 million for 2026/27. However, the government has proposed reducing it to £99.9 million in 2027/28 following the completion of the Buckingham Palace refurbishment. Meanwhile, a report by The Mirror has drawn attention to Prince William’s financial position, including the £1.2 billion valuation of the Duchy of Cornwall and his reported £21.6 million income in 2025-26. King Charles, meanwhile, has an estimated personal fortune of £640 million, according to the Sunday Times Rich List. The Sovereign Grant was introduced in 2012/13 under the Sovereign Grant Act 2011, replacing earlier sources of royal funding, including the Civil List. The grant has reached £137.9 million for 2026/27, according to the House of Commons Library briefing. The government has introduced the Sovereign Grant Bill 2026-27, which proposes reducing the grant after the completion of Buckingham Palace’s extensive refurbishment programme. Subject to the legislation, the funding will fall to £99.9 million in 2027/28. However, the proposed amount would still be 65% higher in real terms than the funding received in 2016/17, before the palace’s major reservicing programme began. The Duchy of Cornwall, which provides income to the heir to the throne, is valued at approximately £1.2 billion, according to The Mirror. Prince William became the 25th Duke of Cornwall after Queen Elizabeth II’s death and King Charles’ accession in September 2022.
A new UK Parliament briefing on royal finances has revealed how public money supports the monarchy, while also explaining the income generated by historic royal estates and the tax arrangements followed by senior members of the family.
Assets such as the Crown Estate, occupied royal palaces, government buildings and the Royal Collection are held ‘in right of’ the Crown or the United Kingdom, according to the parliamentary briefing. How much does the British Royal Family cost British taxpayers, and how wealthy are King Charles III and Prince William? Here’s how the Royal Family earns its money, pays taxes and uses public funding. The bill also proposes a mechanism for future reductions to prevent what the government describes as ‘inappropriately high funding’. He is entitled to the estate’s annual profits as the Prince of Wales. Not every property associated with the monarchy belongs to the King personally.
