The deposed prince specifically received the second part of a trust set up by Queen Elizabeth, mother of Elizabeth II. The amount, according to the Times of London, is more than 9 million euros.
The story began in 1994 when the Queen Mother placed 22.5 million euros in a trust fund for her great-grandchildren. Harry and his older brother, Prince William, reportedly got the money in two installments: on their 21st and 40th birthdays. The two brothers received €7 million at 21 and over €9 million when they turned 40. In addition to Harry and William, the beneficiaries of the Queen Mother’s estate are, Zara and Peter Phillips, Princess Beatrice and Princess Eugenia, Viscount Linley and Lady Sarah.
In addition to Harry and William, the beneficiaries of the Queen Mother’s estate are, Zara and Peter Phillips, Princess Beatrice and Princess Eugenia, Viscount Linley and Lady Sarah.
According to Tatler magazine, the Queen Mother left Harry a larger sum than she left his brother, on the understanding that William would inherit the estate from the Duchy of Cornwall when he became heir. Indeed, in the last financial year, the future king had an annual private income of more than £23 million, according to royal accounts published in July. “There was a trust set up at the time. It was a way in which the Queen Mother could set aside money for when her great-grandchildren were older and a way of passing on to them a piece of her fortune in a tax-efficient way,” a former palace aide told The Times. He added: “It was a way in which a portion of her estate could be transferred to them ‘with a shield of protection’ from external factors.
However, the Queen Mother’s bequest is not the only inheritance Harry has received. Princess Diana left more than €15 million in her will, which will be divided equally between her children on their 30th birthdays, and bequeathed her wardrobe, including her wedding dress and her large personal jewellery collection.
The New York Post’s popular “Page Six” had previously reported that Harry was planning to celebrate his big 40th birthday with a party hosted by his wife, Meghan Markle, in Montecito, California, where they live. On his big day, the prince received public birthday love from his father, King Charles III, William and his brother’s wife Kate Middleton on social media. “Wishing the Duke of Sussex a very happy 40th birthday today!” wrote the royal family’s official X account, which is managed by Charles’ office at Buckingham Palace. The Welsh reposted the message, adding: “Wishing a happy 40th birthday to the Duke of Sussex.” The birthday announcement included a 2018 photo of Harry smiling during his visit to Dogpatch Labs in Dublin. Markle, 43, appeared to have been cut out of the photo.
Harry, author of Spare, has had a strained relationship with King Charles, 75, and William, 42, since he and the Suits actress gave up their “royal duties” and moved to the US in January 2020. Harry and his wife now reside in a 12 million euro mansion in Montecito, US, which includes nine bedrooms, a swimming pool, tennis court, wine cellar, gym and library, with their two children: their son Prince Archie, 5, and daughter Princess Lilibette, 3. Katie Nicholl, the royal editor of Vanity Fair, estimated that the annual expenses of their Montecito mansion must be more than 18 million euros a year.
A lot of expenses but the income is no less
Harry and Meghan have already won several lucrative deals in the US: first came a €30 million Spotify deal, then a €96 million Netflix partnership, followed by a €38 million four-book deal, which began with Spare – now an international bestseller. These days, the famous couple are claiming big fees for speaking appearances, while Harry is also head of the online mental health start-up, BetterUp. Meanwhile, Meghan, last month launched her new brand, American Riviera Orchard, on Instagram with jams, dog treats, and homewares. The brand, which will be available from next year, is expected to greatly increase the bank account of the Duke of Sussex and his wife.
