Prince Harry’s 40th birthday was marked by a double celebration. In addition to turning a milestone age, he also received a substantial inheritance from his great-grandmother.
Prince Harry just turned 40, and it seems his milestone birthday came with more than just well-wishes. The Duke of Sussex is reportedly set to receive a substantial inheritance from his great-grandmother, the late Queen Mother.
It’s no small sum either—around £19 million($23 million) was tucked away for her great-grandchildren, back in 1994. At the time, that amounted to nearly two-thirds of her fortune! According to reports, Prince Harry and his brother, Prince William, were expected to claim their inheritance in two installments.
One at the age of 21 and another at 40. So, now that Prince Harry has officially hit that big birthday, he is now in line to receive his second payout. The funds, originally deposited when the Queen Mother was 94 years old, cleared the seven-year inheritance tax threshold due to her passing in 2002. This means that Prince Harry’s windfall will be tax-free.
While exact details of the trust fund remain private, royal experts have suggested that Prince Harry may receive a larger share than his brother. This is believed to be a way of compensating Harry for not being in line for the throne.
A former Palace aide explained to The Times, “It was a way in which the Queen Mother could set aside money for when her great-grandchildren were older…a way of passing a slice of her estate down in a tax-efficient way.”
The two brothers are understood to have already received £6 million ($7.3 million) between them at the age of 21. Now, with Harry’s 40th birthday, a further £8 million ($9.7 million) is expected to be shared.
Still, British broadcaster and photographer Helena Chard has stirred up some royal drama. She suggests that Prince William might be feeling a bit “disgruntled” about the sizeable inheritance that’s coming Prince Harry’s way.
Chard told Fox News Digital that William’s frustration could stem from Harry’s tell-alls, which have certainly shaken up the monarchy. She believes William may see Harry’s candid revelations as unsupportive and even hurtful towards the royal family.
Meanwhile, Harry is expected to be over the moon about his financial windfall. This could boost his confidence and ease his long-held sense of inadequacy compared to his older brother.
Chard also noted that King Charles might breathe a sigh of relief knowing Harry will now be financially stable. This financial cushion could potentially put a pause on Harry’s memoir-writing spree that has been critical of the royals.
However, she indicated that King Charles is unlikely to be more inclined to communicate with Harry. This is due to ongoing disputes over taxpayer-funded security. Harry is reportedly seeking his father’s assistance to secure his preferred level of protection.
In an insightful remark, Christopher Andersen, author of “The King,” revealed that the Queen Mother placed two-thirds of her estimated $120 million fortune into a trust fund for her great-grandchildren.
Andersen explained that she had the foresight to prepare for Prince William’s future inheritance of the Duchy of Cornwall. This is a title he gained when Charles ascended to the throne. The inheritance now boasts assets exceeding $1 billion. As for the trust fund, its value has grown significantly, meaning Harry’s share has also increased.
With Prince Harry now clocking 40, he reflected on his past anxieties about turning 30 and expressed excitement about the new decade. In a candid statement to the BBC, Harry shared, “I was anxious about 30, I’m excited about 40.” He continued, “Whatever the age, my mission is to continue showing up and doing good in the world.”
