Prince Harry’s net worth is to receive a huge boost today as he receives a £7million windfall from his great-grandmother.
The late Queen Mother had an estimated fortune of £70million when she died in 2002. And prior to her death she used the money to create a trust fund for her family.
With the Duke of Sussex turning 40 today (September 15), he will receive his payout from the fund.It is believed Harry will receive a larger chunk than his brother Prince William, with £14million earmarked for the pair.
That is due to how the Royal Family divides finances. William, as the heir to the throne, will benefit hugely from the Duchy of Cornwall, a private estate that pays for the public, charitable and private activities of the King’s heir.
But what is Harry’s total worth?
The most recent estimate of Harry’s net worth, combined with wife Meghan Markle, is around £46million ($60million), reports Celebrity Net Worth. A large part of this is said to have come from a trust fund set up by his late mother, Princess Diana.
The latest inheritance means Harry will reportedly have a net worth of around £53million. This will also include their substantial earnings for their Netflix projects.
This figure however is considerably lower than his brother William. The Prince of Wales has, according to Celebrity Net Worth, around £91million ($120million).
This includes around £15 million ($20million) that came from a trust fund set up from Diana’s divorce settlement from King Charles. According to the Economic Times, William was paid £20million (around $30million) from the Duchy of Cornwall last year.
Money from the Duchy is officially tax-exempt. However William, like his father before him, opts to pay income tax on the money.
Both Harry and William have fortunes that are trumped by their father. King Charles is estimated to be worth around £614m ($800million), a figure that ballooned from around £76million ($100million) after he took the throne following Queen Elizabeth II’s death.
His annual pay is set for a whopping £45million pay boost next year as well. The Sovereign Grant is to increase to £132million from £86.3million in 2024/25 due to increased profits at the Crown Estate.
The Crown Estate is a property business owned by the monarch but run independently. It pays 12 percent of its profits to the King, which was reduced from 25 percent last year, reports the BBC.
