British Monarch ‘making millions’ from covert real estate holdings, reports Sunday Times
According to a report from the Sunday Times, the UK’s Royal family generated nearly $65 million in income from properties over the past year. This revenue included rent paid by the army, the NHS, and schools. Read Full Article at RT.com
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A media investigation has revealed that the royal family generated nearly $65 million last year, which includes rental income from various public services like the army, NHS, and schools.
According to the Sunday Times, British King Charles III and his son Prince William have contracts with taxpayer-funded public services, charities, government departments, and even a prison, allowing them to earn millions annually, in addition to the sovereign grant provided by the government.
In 2023 alone, the Duchy of Lancaster and the Duchy of Cornwall, referred to as their “private fiefdoms,” contributed £27.4 million and £23.6 million to the British royal family, respectively. This finding was part of a collaborative investigation with Channel 4’s Dispatches program.
The report noted that royal addresses were used to unveil their business contracts, exposing how the duchies generate revenue through commercial rents and feudal levies on land predominantly appropriated by medieval monarchs.
The investigation, dubbed “Duchy Files,” suggests that King Charles and Prince William “charge for the right to cross rivers, offload cargo onto the shore, run cables under their beaches, operate schools and charities, and even dig graves.”
The Times asserts that they also receive revenue from toll bridges, ferries, sewage pipes, churches, village halls, pubs, distilleries, gas pipelines, boat moorings, opencast and underground mines, car parks, rental homes, and wind turbines.
The investigation claims that the royal duchies manage approximately 5,410 landholdings and properties.
For example, a deal with an NHS foundation trust is expected to pay the King’s Duchy of Lancaster £11 million over 15 years to rent a warehouse designated for ambulances.
Prince William’s Duchy of Cornwall reportedly earns £1.5 million annually from the Ministry of Justice for access to Dartmoor Prison. Additionally, the duchy, overseen by the King’s eldest son, the Colonel-in-Chief of the Army Air Corps, charges the military for the right to conduct training on its 67,500 acres of Dartmoor, though the specific amount has not been disclosed.
Furthermore, the estates are said to rent out over 900 residential homes and farms to tenants.
The duchies, established in the 14th century, are operated as commercial landlords but are exempt from taxes on their corporate profits. Both the King and Prince pay income tax voluntarily at the top rate of 45%. In 2022, during the last publication of King Charles’s tax filings, he paid 25% of the £23 million in duchy profits after deducting expenses he deemed related to his official duties.
The “Duchy Files” investigation represents the first time a complete list of property holdings for the two royal estates has been disclosed, with reports indicating even British parliament members were not granted access to this information.
The investigation claims that “the ancient property empires that fund the King and the Prince of Wales have remained a closely guarded secret within the royal family and its small circle of advisers for centuries.”
Both duchies operate independently from the Crown Estate, which is a vast property business owned by the British monarch but managed separately. Due to its increasing profits, the taxpayer-funded sovereign grant allocated for official royal duties is projected to rise from £86.3 million in 2024-25 to £132 million in 2025-26.
Aarav Patel for TROIB News
According to the Sunday Times, British King Charles III and his son Prince William have contracts with taxpayer-funded public services, charities, government departments, and even a prison, allowing them to earn millions annually, in addition to the sovereign grant provided by the government.
In 2023 alone, the Duchy of Lancaster and the Duchy of Cornwall, referred to as their “private fiefdoms,” contributed £27.4 million and £23.6 million to the British royal family, respectively. This finding was part of a collaborative investigation with Channel 4’s Dispatches program.
The report noted that royal addresses were used to unveil their business contracts, exposing how the duchies generate revenue through commercial rents and feudal levies on land predominantly appropriated by medieval monarchs.
The investigation, dubbed “Duchy Files,” suggests that King Charles and Prince William “charge for the right to cross rivers, offload cargo onto the shore, run cables under their beaches, operate schools and charities, and even dig graves.”
The Times asserts that they also receive revenue from toll bridges, ferries, sewage pipes, churches, village halls, pubs, distilleries, gas pipelines, boat moorings, opencast and underground mines, car parks, rental homes, and wind turbines.
The investigation claims that the royal duchies manage approximately 5,410 landholdings and properties.
For example, a deal with an NHS foundation trust is expected to pay the King’s Duchy of Lancaster £11 million over 15 years to rent a warehouse designated for ambulances.
Prince William’s Duchy of Cornwall reportedly earns £1.5 million annually from the Ministry of Justice for access to Dartmoor Prison. Additionally, the duchy, overseen by the King’s eldest son, the Colonel-in-Chief of the Army Air Corps, charges the military for the right to conduct training on its 67,500 acres of Dartmoor, though the specific amount has not been disclosed.
Furthermore, the estates are said to rent out over 900 residential homes and farms to tenants.
The duchies, established in the 14th century, are operated as commercial landlords but are exempt from taxes on their corporate profits. Both the King and Prince pay income tax voluntarily at the top rate of 45%. In 2022, during the last publication of King Charles’s tax filings, he paid 25% of the £23 million in duchy profits after deducting expenses he deemed related to his official duties.
The “Duchy Files” investigation represents the first time a complete list of property holdings for the two royal estates has been disclosed, with reports indicating even British parliament members were not granted access to this information.
The investigation claims that “the ancient property empires that fund the King and the Prince of Wales have remained a closely guarded secret within the royal family and its small circle of advisers for centuries.”
Both duchies operate independently from the Crown Estate, which is a vast property business owned by the British monarch but managed separately. Due to its increasing profits, the taxpayer-funded sovereign grant allocated for official royal duties is projected to rise from £86.3 million in 2024-25 to £132 million in 2025-26.
Aarav Patel for TROIB News
