King Charles and Prince William are in hot water after an investigation alleged that the monarch and his heir have been making millions from charities and public services.
The Sunday Times and a televised program titled “The King, The Prince & Their Secret Millions” are claiming that the 75-year-old and the 42-year-old are quietly raking in money through their royal estates, the Duchy of Lancaster and Duchy of Cornwall.
“This could become the Watergate for the royal family, especially Charles and William,” royal expert Ian Pelham Turner told Fox News Digital. “The televised scandal report [is claiming] that … millions have not publicly been scrutinized.”
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King Charles and his eldest son, Prince William, are accused of secretly raking in millions from charities and public services through their private estates. (Max Mumby/Indigo/Getty Images)
“This goes against accountability issues declared by the new Labor Government, who [said] they would crack down on companies that were not transparent over their financial affairs.”
“This will not go down well with the British people,” Pelham Turner warned. “Many are suffering from huge costs for food and essential supplies.”
“The royal family hasn’t breached any laws; rather, they operate within an established, if unusual, system,” Jonathan Sacerdoti, a British broadcaster and columnist, told Fox News Digital. “However, public perceptions may shift unfavorably, as the Duchies benefit from exemptions not available to ordinary citizens. Targeted or not, this reflects a rising expectation for transparency from all public figures, including the royals.”
A spokesperson for Kensington Palace, which handles the offices for the Prince and Princess of Wales, didn’t immediately respond to Fox News Digital’s request for comment. A spokesperson for Buckingham Palace told Fox News Digital that the investigation was for the Duchy of Lancaster to comment on.
“This could become the Watergate for the royal family, especially Charles and William. The televised scandal report [is claiming] that … millions have not publicly been scrutinized. … This will not go down well with the British people. Many are suffering from huge costs for food and essential supplies.”
The probe focuses on the Duchy of Lancaster, owned by King Charles as sovereign, and the Duchy of Cornwall, a private estate owned by Prince William, as the Prince of Wales. (Pool/Max Mumby/Getty Images)
The Duchy of Lancaster is a private estate of 44,748 acres in England and Wales owned by the king as sovereign.
“The Duchy of Lancaster manages a broad range of land and property assets,” a spokesperson explained to Fox News Digital.
“It is self-financing and does not receive any public funds in connection with its activities,” the spokesperson shared. “It publishes an Annual Report and Accounts that is independently audited and available to view on its website and complies with all relevant UK legislation and regulatory standards applicable to its range of business activities.”
The Duchy of Cornwall is a private estate of almost 130,000 acres in southwest England owned by William as the Prince of Wales. A spokesperson also emphasized its private status to Fox News Digital.
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King Charles was crowned on May 6, 2023, in London. (Yui Mok – WPA Pool/Getty Images)
“The Duchy of Cornwall is a private estate with a commercial imperative which we achieve alongside our commitment to restoring the natural environment and generating positive social impact for our communities,” said the spokesperson.
“Prince William became Duke of Cornwall in September 2022 and since then has committed to an expansive transformation of the Duchy. This includes a significant investment to make the estate net-zero by the end of 2032, as well as establishing targeted mental health support for our tenants and working with local partners to help tackle homelessness in Cornwall.”
The investigation claims that the private estates have been taking in millions from public bodies, including the National Health Service, state-funded schools as well as the British Armed Forces, the New York Post reported.
King Charles III arrives for an International Sustainability reception at Buckingham Palace on Nov. 6, 2024, in London. (Jordan Pettitt – WPA Pool/Getty Images)
According to the outlet, the program also alleged that William’s estate received a $78,000 payment from St John’s Ambulance, a charity of which the king, who is battling cancer, is a patron.
It noted the king’s estate was accused of storing a new fleet of electric ambulances in its warehouse in exchange for $14.7 million over 15 years. It also claimed that William’s estate has charged the Royal Navy $1.3 million since 2004 to build jetties and moor warships in Cornwall.
The Sunday Times claimed that a five-month investigation revealed that the duchies are making millions by “charging government departments, councils, businesses, mining companies and the general public via a series of commercial rents and feudal levies on land largely seized by medieval monarchs.”
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Prince William greets well-wishers during a visit to Kalk Bay Harbour to highlight the contributions of 2023 Earthshot finalist Abalobi on Nov. 7, 2024, in Cape Town, South Africa. (Chris Jackson/Getty Images)
“The Duchy Files show the royals 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 outlet claimed. “They earn 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.”
People magazine noted the arrangement is problematic because the royals are said to be operating as “commercial landlords” while benefiting from a special agreement “exempting them from paying tax on their corporate profits.”
The investigation also reported on a $48 million deal to lease Dartmoor Prison to the Ministry of Justice.
The documentary claimed that both estates have made about $65 million from deals in the past year alone, the New York Post reported.
Fog hangs over Dartmoor Prison as the sheep graze on the farm. (ODD ANDERSEN/AFP via Getty Images)
“What those outlets didn’t cover was that the royals voluntarily pay income tax on the surplus,” British royals expert Hilary Fordwich claimed to Fox News Digital.
Sacerdoti told Fox News Digital that the revelations add “renewed scrutiny to the royal family’s unique financial privileges.”
“It presents a challenge to the careful balance they strike between inherited privilege and public service,” Sacerdoti explained. “Yet, the structure of the Duchies – longstanding and legally intricate – seems unlikely to undergo drastic changes.”
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Eyes are on William in particular after he recently starred in a two-part docuseries, “Prince William: We Can End Homelessness,” on ITV. In June 2023, the father of three launched a five-year project to end homelessness in the U.K.
He kicked off the initiative by visiting pilot projects that have received grants of up to $637,000 each from the Royal Foundation, the charity that supports the work of William and his wife, Kate Middleton.
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The Prince of Wales also raised eyebrows over the summer when he declined to disclose how much he paid in taxes for the Duchy of Cornwall’s 2023-2024 financial year. The Duchy of Cornwall’s Integrated Annual Report, which was published in July, showed that he made $30 million in his first full year as the Duke of Cornwall.
According to People magazine, that sum covered the official, charitable and private expenses of the prince as well as his wife and their children.
The outlet also reported that the Duchy of Lancaster earned about $35 million for the king.
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Prince William is seen here with his wife, Catherine, Princess of Wales. The eldest son of King Charles III and the late Princess Diana is heir to the British throne. (Samir Hussein/WireImage/Getty Images)
The Prince of Wales inherited his estate, which is worth more than $1 billion, when his father assumed the throne. Queen Elizabeth II, England’s longest-reigning monarch, died in September 2022 at age 96.
Both estates were established hundreds of years ago to provide income for both the sovereign and the heir to the throne, People magazine reported.
Prince William watches as he attends the Sovereign’s Parade on behalf of King Charles III at the Royal Air Force College in Cranwell on Sept. 12, 2024, in Sleaford, England. (Chris Jackson/Getty Images)
“While increased transparency could help calm public concerns, the likelihood of substantial reforms is minimal,” said Sacerdoti. “Both Charles and William may aim to refine their public messaging, highlighting charitable efforts and the long-term stewardship of these estates. [But] this underscores a recurring challenge: reconciling ancient privileges with modern expectations.”
“By navigating this tension thoughtfully, the monarchy may reinforce its relevance in a changing Britain even as traditional structures remain largely intact,” he said.
Sacerdoti noted that the scandal will likely test the king to see if he’s able to modernize the monarchy’s image without “upending its foundations.”
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In February, Buckingham Palace announced King Charles III was diagnosed with an undisclosed form of cancer. (Carl Court/Getty Images)
“For William, it signals the complexity of inheriting an institution where public service and privilege intertwine, a challenge he will face throughout his future reign,” he said. “It may, in time, push him to shape a future monarchy that’s more transparent and egalitarian, setting a precedent that balances tradition with the values of a new generation.”
“Although Charles and William voluntarily pay income tax on the duchies’ income, these tax exemptions and legal protections illustrate the complex, privileged status of their estates,” Sacerdoti added.
The Associated Press contributed to this report.
