Prince William is now a billionaire and richer than his old man

Prince William is richer than his father for the first time (Picture: Max Mumby/Indigo/Getty Images)

Prince William is now more wealthy than his father King Charles III, according to a new report.

Yearly accounts for the Sovereign Grant have now been published, revealing that William has a net worth of £1.2billion via the Duchy of Cornwall, which he inherited after becoming heir to the throne four years ago.

He has also paid more than £20million in tax since becoming Prince of Wales.

The figures have showed for the first time that William is richer than his father, after receiving a private income of...