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Prince William has reportedly given up £1.5 million a year in income generated by the now-closed Dartmoor Prison, directing that the money should instead be invested in the local community.
The Prince of Wales has instructed the Duchy of Cornwall not to include the annual rental income in his accounts while uncertainty remains over the prison’s future.
The Category C prison, located near the remote town of Princetown, has been closed since July 2024 after elevated levels of radon gas were discovered at the site, creating uncertainty for residents and businesses in the surrounding area.
Despite the closure, the Ministry of Justice continues to pay rent under a lease agreement that runs until 2033. The lease was agreed in 2022, before William inherited the title of Duke of Cornwall from his father, now King Charles III.
William’s ‘first-hаnd’ motive for change
Announcing the decision, Ian Patrick, private secretary to Prince William, said: “The Duke has seen first-hand the impact that the prison’s continued closure is having on the local community and believes it is right that this money should be used to help the area build for the future while uncertainty remains.
“This decision reflects The Duke’s belief that the Duchy should be a force for positive impact in the communities it serves.”
The move underlines William’s commitment to ensuring the Duchy of Cornwall plays an active role in supporting the communities connected to its estates, particularly during periods of economic uncertainty.
The Duchy of Cornwall plans to create a community-led regeneration fund for Princetown, aimed at supporting local businesses, improving facilities such as the town’s youth centre and expanding environmental initiatives.
Ian Patrick added: “Prince William knows that for many people in Princetown, the prison has long been part of the fabric of the community.
“Its closure has created genuine uncertainty, not only about jobs and businesses, but also about the future of the town itself.
“The Duke felt strongly that, while those questions remain unresolved, the benefit of this income should stay within the community, helping local people shape that future.”
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Prince William’s mаjor changеs for the Duchy of Cornwall
The decision forms part of Prince William’s broader modernisation of the 689-year-old Duchy of Cornwall. The strategy includes selling around 20 per cent of the estate’s holdings in order to concentrate investment and resources on five core regions: Cornwall, the Isles of Scilly, Dartmoor, Bath and the surrounding area, and Kennington in south London.
Will Bax, chief executive of the Duchy of Cornwall, said the new approach would enable the estate to reinvest in initiatives and communities where it can create a greater social and environmental benefit.
“We are evolving from a model of stewardship to one of active leadership, using our land, financial resources and partnerships to generate social and environmental impact while maintaining long-term financial sustainability,” he said.
How much monеy does Prince William mаke?
Prince William received a private income of £21.6 million from the extensive land and property holdings managed by the Duchy of Cornwall during the 2025–26 financial year.
The annual accounts also revealed that Prince William paid £7.76 million in tax during the 2025–26 financial year, marking the first time he has publicly disclosed the figure.
Elsewhere, Kensington Palace confirmed that the number of staff employed within the household of William and Catherine, Princess of Wales has increased from 68 to 74.
The latest diversity figures show that 14.9 per cent of staff come from ethnic minority backgrounds, up from 13.2 per cent the previous year. The workforce is also made up of 73 per cent women and 27 per cent men.
