Is Prince William Really Richer Than King Charles?

0:03 Calarogus Shark Media. Hello and welcome to Palace Intrigue. I'm your host, Mark Francis. Is Prince William now more rich than King Charles. According to the newly released royal financial figures, The Prince of Wales now oversees assets worth an estimated one point two billion pounds through the Duchy of Cornwall, making the heir to the throne wealthier on paper than its father, King Charles. The figures emerged alongside this week's annual Sovereign Grant Report, which also revealed that both Charles and William's personal tax payments for the first time. In an effort to increase transparency around royal finances, William inherited the Duchy of Cornwall automatically upon Queen Elizabeth I's death in September twenty twenty two, when Charles became king and William became Prince of Wales. The Duchy is not a personal bank account, but a hereditary estate. Stretching across roughly one hundred and thirty thousand acres. It includes farmland, commercial property, housing developments, Forest's coastline and even London's Oval cricket ground.

1:05 The estate generates the income that funds William's official duties, his household, and much of the family's private life. For the twenty twenty five twenty six financial year, William received private income of twenty one million pounds from the Duchy. The estate itself is valued at around one point two billion pounds, a figure that now exceeds King charles Reported personal fortune. The Sunday Times Rich List recently estimated Charles's personal wealth at approximately six hundred and forty million pounds. It is important to note, however, that these numbers measure different things. Charles reported fortune reflects his personal wealth, while the Duchy of Cornwall is a hereditary estate that William controls but does not personally own in the conventional sense. He cannot simply sell it off or divide it into cash. Instead, he serves as steward of an asset that has funded heirs to the throne for centuries. The annual accounts released by Buckingham Palace were intended to showcase a monarchy becoming more transparent. Instead, they have sparked a fresh debate of whether the institution has become more expensive even as it has grown smaller. Critics argue that King Charles has long spoken about creating a slim down monarchy, but the latest financial figures tell a different story. Core public funding through the Sovereign Grant is set to rise dramatically, increasing from fifty one million to ninety nine million next year. While recent headline totals have included additional funding for the three hundred and seventy million pound refurbishment of bucking And Palace, opponents note that even after those renovation costs disappear, the monarchy's baseline public funding will be almost double what it was just three years ago. The mechanism behind the increase

2:38 has attracted particular criticism. Under what some campaigners called the golden ratchet, the Sovereign Grant can increase but cannot easily be reduced, leaving Parliament with limited ability to scale funding back Labour. Per Lord George Forkes told the ipaper it is bloated. It is unnecessarily huge in terms of the number of hangars, on the number of palaces, the true the staff to support it all. It should be much more modest. The latest accounts showed that despite having fewer working members of the royal family following the departures of Prince Harriot, Megham spending has continued to rise. Royal travel increased from four point seven million to five point one over the past year. Helicopters were used for one hundred and seventy seven journeys at a total cost of more than seven hundred and thirty three thousand pounds, averaging just over four thousand pounds a flight. Royal staffing also grew, with headcounts rising from five hundred and thirty nine employees to five sixty three, while payroll costs climbed from twenty nine point nine to thirty three point seven million. Hospitality spending also increased, with housekeeping, food and drink costs rising from three point two to three point five million pounds.

3:42 Among the most expensive official overseas engagements were Prince William's three day visit to Saudi Arabia. It cost one hundred and thirty thousand pounds, closely followed by the King and Queen's state visit to Italy, which cost one hundred and twenty seven thousand. William's trip to the COP thirty Climate conference in Brazil came in at seventy nine thousand. Operations for the King's recent state visit to the US also featured prominently. Although the full cost of that April tour will not appear until next year's accounts, officials disclosed that an advanced planning visit by palace staff to the US and Bermuda costs sixty six thousand. Bucking and Palaces defended the spending argument that the sovereign grant supports the work of the institution rather than private lives and members of the Royal family. Former Liberal Democrat minister Norman Baker believes the entire funding system should be replaced, telling eyepaper the monarchy is certainly bloated. It's essentially overweight and needs to go on a diet, but the Royals won't do it unless they are forced to by pressure from Parliament, media and public. Having fewer people on the balcony although welcome is not enough. You can only talk about a slim down monarchy if there is a sustained production in costs.

4:49 In The Independent, Alexander Larman writes the Royal family is dangerously close to becoming just another government department. Man publishes tax return may not seem to be an especially noteworthy story, yet set in the context of the neocomically opaque finances of the firm. It is probably the most significant thing to happen to the Royal family on a purely constitutional level since the abdication crisis in nineteen thirty six, if of course, we ignore the various divorces, disgraces and deaths that have taken place since. To abandon your palace and expose your finances is a seed change in the family's relationship with the public. A large part of the Royal Family's enduring quality appeal is not quite the right word, is that they have chosen to remain aloof beyond the everyday cares and concerns of their subjects, and by and large have never been challenged on this Olympian detachment. When it was announced that Elizabeth the second would start paying tax in nineteen ninety three, it was greeted with astonishment and gratitude rather than the size of what took you so long? Her son is undoubtedly hoping for the same reaction, but he is unlikely to receive it. This is partly because he is not as popular a figure as the late queen, and also because the small print throws up some eyebrow raising numbers, at least in the doubling of the sums given to them in the sovereign grant from the workings of the Crown Estate. But it is also because Queen Elizabeth was an expert in keeping things as uncontroversial and steady as possible. It was no wonder that when she greeted people at the innumerable public events that she held during her reign, her standard remark was have you come far? Charles might also be asking himself today

6:21 whether he has gone too far. The whole point of the British Royal Family, rather than say the Dutch equivalent, where its members happily ride around city streets on bicycles, is that it removes itself from ordinary concerns. If we regard the firm as nothing more than an extension of our own family lives, then questions must be asked about why its members still merit hundreds of millions of pounds of public money, and whether their subjects are getting value for money as a result. More in just a moment, hey all, This week we're celebrating America's two hundred and fiftieth birthday here on Palace Intrigue, our afternoon show. Each week, it's looking back at the two hundred and fifty years since seventeen seventy six as a Royal check that out and also a daily crime series called Daily Crime and Justice is following the five top UK trials in the last two hundred and fifty years, so take a look for that wherever you get podcasts Daily Crime and Justice.

7:20 As Prince Harry and Meg and Michael prepare for their expected return to Britain broadcast to Piers Morgan has offered a blunt assessment and how he believes the visit is being viewed inside royal circles. Speaking on The Royals Uncensored podcast, Morgan claimed, they don't trust them period. They just don't trust them. Obviously. The King is a father would love to see his son. The problem is everyone around him is saying, how can you trust him? Sir? Why should they be allowed to march around the world with unofficial royal visits, making tons of money for themselves in the process, without doing any royal duty whatsoever? Why should they According to reports that Duken Duchess of Sussex will not travel by private chap when they arrive from the Invictus Games one year countdown events, source familiar with the arrangements, said Harry always travels with one or two of his own security team. Several reports claim Harry and Meghan intend to bring a Netflix documentary crew to film portions of the British visit as part of a future production. One source claimed they know it would make the biggest spectacle. They still want photos of them being royal. Whether cameras will be permitted anywhere near any meeting with King Charles remains entirely unclear. There was also the question of whether or not such a film crew would do anything involving Dianna's memory Royal inside a deep Crown observes, one imagines the Prince of Wales would find the Netflix crew rather difficult to square with the state of purpose of the visit.

8:37 If the goal is genuine reconciliation, private family time healing the breach, cameras would seem to work against that. If the goal is documenting the moment for content, then the reconciliation becomes secondary. One suspects William, observing from his position, would note this contradiction quite sharply. Whether he would say so is another matter. Entirely before we go. If you're listening on Apple podcasts, we'd love for you to become a Fremium subscriber. Just tap the banner in the app that says Uninterrupted Listening and that will start your free thirty day trial. After that, it's just five bucks a month. You get this show completely ad free, and Premium access gives you more than twenty five other Calaoga Sharp Media podcasts, including all our royal series and there are several of them.

9:20 Give it a try for a month. See what you think. We really really well. You appreciate your support by my Francis, my thanks to John McDermott. This is Palace Intrigue and continues