Interestingly, he was a lot like Jeff Lynne in his talents, playing virtually all the instruments on many of his recordings. Maybe better to say Lynne was like Prince in that regard since Prince could play rings around anyone on guitar.
And let's not forget Roy Wood, Jeff Lynne's partner in crime... The Move back in the 60's and ELO's early days. Roy Wood could/can play pretty much EVERY instrument known to man... and probably some that aren't. Not only can Wood play multiple instruments, he's a better than decent singer and writes music for himself and others... as well a produce, mix and cut records/CDS himself. I have one called One Man Band, on which no other person contributed. He wrote and performed all the tracks, played every instrument, produced and cut the record himself
As for Prince playing rings around everyone on guitar, I don't know that I'd say that. Prince was definitely up there with the best of them - Joe Satriani, Steve Vai, Roy Buchanan and others - and he could certainly belt out a great solo that'd enthrall any guitar lover with an ear for music.
There are multiple reports that Eric Clapton was once asked what it was like to be the greatest guitar player alive, and he responded, "I don't know. Ask Prince."
Probably a fake quote, but quite possibly true regardless.
Whether Clapton said it or not, it's true that Prince was the better guitarist IMHO.... not that Clapton is a slouch.