Prince William reportedly intends to sell 20 percent of the Duchy of Cornwall over the next decade, aiming to raise an estimated $670 million. The decision was made to finance a monumental expansion of housing, environmental initiatives and renewable energy efforts. Following King Charles’s succession in 2022, William has been controlling the extensive estate, which was created in 1337 to generate revenue for the successor to the throne.

The Duchy of Cornwall spans 128,000 acres throughout 19 counties and is priced at over $1.3 billion. It currently provides Prince William and his children — Prince George, Princess Charlotte, and Prince Louis — with a private income of $21 million. However, the report suggests that the future king intends to use these funds to support the construction of thousands of homes and the growth of green energy projects throughout England.

He would reportedly refocus on five key “heartlands,” including areas such as Cornwall, Dartmoor, the Isles of Scilly, Bath, and parts of London. While speaking with The Times, Will Bax, Duchy chief executive, emphasized that the plan is to shift traditional landholders toward approaches with broader social impact.

Bax said, “If we don’t see an opportunity for positive impact, then perhaps we don’t need to be a part of that place.” He explained that they are ready to work alongside communities in areas facing social and environmental issues, particularly when there is a meaningful opportunity to bring about positive change.

On the other hand, another BBC report quoted Prince William stating, “We’re not the traditional landowner… we want to be more than that. There is so much good we can do. I’m trying to make sure I’m prioritizing stuff that’s going to make people’s lives, living in those areas, better.”

It further suggests that £123m will be spent on employment opportunities to promote job growth in rural areas and increase support for renewable energy initiatives.

A part of which reportedly involves expanding rooftop solar panels across the southwestern region of England, aiming to generate sufficient power for 40,000 homes. It has been suggested that £20m will be used for environmental initiatives aimed at cutting emissions, including efforts to restore peatlands and protect biodiversity across its estates.

Notably, the move comes amid mounting pressure on transparency on royal finances, especially after the Andrew Mountbatten-Windsor scandal.

The 43-year-old Prince of Wales is expected to travel to the Duchy later this week. The trip aims to highlight initiatives addressing homelessness, stronger local communities, and eco-friendly housing in Nansledan, Cornwall, and St. Mary’s in the Isles of Scilly.

However, royal finances critic Norman Baker believes that the Duchy would still generate significant monetary benefits for the royals. As per the BBC, he stated that it will still be a “royal fruit machine… he pulls the handle and gets a jackpot every time”. He stated that shifting the focus toward additional housing development would not negatively impact the Duchy, elucidating that more houses would mean more tenants, which would result in more income.