Recent reports have brought major attention to the financial dealings of the Duchy of Cornwall and the Duchy of Lancaster, following an investigation by The Sunday Times and Channel 4.
Prince William, the current Prince of Wales, benefits from the Duchy of Cornwall, a hereditary estate founded in 1337 by King Edward III to support the heir to the British throne.
Meanwhile, King Charles, who held the title of Duke of Cornwall until the death of Queen Elizabeth II in 2022, now receives income from the Duchy of Lancaster, a separate estate established in 1265 that includes property and other assets owned by the monarch.
Prince William and King Charles face scrutiny over their estates’ financial practices
Both duchies operate as private enterprises and are not funded by taxpayers, but the public has reacted with outrage upon learning how the royal figures generate income from these estates.
The investigation conducted by The Sunday Times in partnership with Channel 4’s Dispatches uncovered that millions of pounds have been generated annually by charging various entities, including government departments, councils, businesses, mining companies, and the public, through commercial rents and feudal levies.
This includes payments from the National Health Service (NHS). One of the key findings revealed that King Charles and Prince William have earned over $28 million in rent from charities over the past 19 years from their respective estates.
Additionally, some of the rental properties under the Duchy of Cornwall’s management have been found to be in poor condition, with reports indicating dampness, black mold, and a failure to meet basic energy efficiency standards.
Concerning the NHS, King Charles’s Duchy of Lancaster secured a $14 million deal to store a fleet of electric ambulances at one of its warehouses for 15 years, as reported by The Independent.
While many Britons have expressed frustration on social media, particularly in light of Prince William’s recent documentary on homelessness, some have pointed out that the duchies operate independently of the public funds used for the monarchy’s official activities.
One social media user criticized the accumulation of wealth by the royal family, calling it “obscene,” while another defended their business practices, stating that, “Every business owner makes a profit.”
A spokesperson for the Duchy of Lancaster responded to the controversy, assuring that it complies with all relevant UK legislation and regulations governing its business activities, as reported by the BBC.
