Prince William has not revealed the amount he paid in federal taxes last year — but he doesn’t have to.
A report revealing the royal family’s salaries, released on Tuesday, July 1, revealed that William, 43, made £22.9 million (which converts to around $33.4 million) from April 2024 to this past March through his Duchy of Cornwall estate.
Kensington Palace confirmed to Hello! Magazine that William paid federal taxes on the wages, even though he did not disclose how much. It’s important to note that it’s not required for William to reveal the amount he paid in taxes.
“The Prince of Wales pays the highest rate of income tax,” William’s private secretary, Ian Patrick, shared in a statement.
Why Prince William Declined to Reveal What He Paid in Taxes
William and his immediate family — including Princess Kate Middleton and three kids: Prince George, 11, Princess Charlotte, 10, and Prince Louis, 7 — get paid through the Duchy of Cornwall, which is a private estate established in 1337. (The Prince of Wales is also the Duke of Cornwall.)
William’s recently reported salary is less than he made last year. The previous royal salary report, released in July 2024, stated William made £23.6 million (which converts to about $32.4 million) in the 2023–2024 year.
Prior to taking the throne, King Charles III was in his eldest son’s position. He publicly disclosed the amount he paid in income tax as the Prince of Wales from 1993 to 2022.
The royal family’s main source of income comes from the Sovereign Grant, which is taxpayer-funded and paid out each year.
Tuesday’s report revealed that the 2024–2025 Sovereign Grant totaled £86.3 million (which converts to about $118 million).
How Much Do the Royal Family Members Really Make? Salary Breakdown
Perhaps one of the biggest reveals in the report was news that Charles would decommission the Royal Train in 2027 following two costly trips in this past financial year, which were estimated to be a combined total of about £78,000 (which converts to about $107,000.)
Prior to her 2022 death, Queen Elizabeth II favored the Royal Train as a method of transportation. However, Keeper of the Privy Purse, James Chalmers, stated in the report that the decommissioning will be part of the royal family’s ongoing modernization strategy.
“The Royal Train has been part of national life for many decades, loved and cared for by all those involved. But in moving forwards, we must not be bound by the past,” he stated. “Just as so many parts of the Royal household’s work have been modernized and adapted to reflect the world of today, so too, the time has come to bid the fondest of farewells as we seek to be disciplined and forward looking in our allocation of funding.”
