Prince William is drawing both praise and scrutiny as he aggressively reshapes the Duchy of Cornwall, the $1.6 billion royal estate that funds the heir to the throne. In his first full year overseeing the 130,000-acre property, the Prince of Wales has been described by senior staff as "pretty demanding" and "a man on a mission" in efforts to modernize operations and address pressing social issues.
After inheriting the Duchy upon King Charles III's accession in 2022, William began overseeing an estate that spans more than 20 counties across England and Wales. The duchy, which dates to 1337, generated a £24 million income last year for William, who pays income tax on the profits after deducting household expenses. The most recent financial report for 2023-2024 showed a distributable surplus of $30.4 million.
"I see the Duchy as an extension of the work we do with the Royal Foundation," Prince William told The Telegraph during a recent visit to the Isles of Scilly. "There's so much good we can do in the rural world. I see it as another arm to the work that I want to do, which is being a positive force for good."
Will Bax, the Duchy's secretary, said William is "pretty demanding," but in a "great" and "ambitious" way, adding, "He's asking us to change and evolve in a way to deliver positive impact at scale and at pace." Estate Director Ben Murphy, who also served under King Charles, noted William's "healthy impatience, as his father did," which "puts the wind in our sails."
William's strategy includes focusing on mental health among farmers, sustainability, and homelessness. In Scilly, he has asked locals about their needs during family holidays, leading to investments in health services, teacher housing, and more sustainable tourism.
But his tenure hasn't escaped criticism. A 2023 Dispatches investigation by Channel 4 and The Mirror revealed that the Duchy of Cornwall and the Duchy of Lancaster-both owned by the Crown-collect millions annually in rent from public institutions, including £1.5 million from HMP Dartmoor, a prison no longer in use due to radon gas.
Critics have also flagged that many Duchy-owned residential properties have poor energy efficiency ratings, making one in seven susceptible to cold, damp, and mould. Duchy representatives told The Telegraph that the investigations have prompted a renewed focus on transparency and community support.
Prince William acknowledged the weight of the role. "It's about responsibility, it's about leadership and doing what's right on the social issues of our time," he said. "I'm trying to make sure I'm prioritizing stuff that's going to make people's lives, living in those areas, better. This is what we're going to do to make people's lives in Cornwall better."
