Prince Harry is set to receive a significant inheritance on his 40th birthday, courtesy of his great-grandmother, the Queen Mother.
According to reports, Harry will take home over £4m, equivalent to N8.4bn, from a trust fund established by the Queen Mother in 1994.
The fund, totaling £19m, was set aside for all of Elizabeth’s great-grandchildren, with each receiving a share on their 40th birthday.
Harry’s brother, Prince William, received his share last year when he turned 40.
The Queen Mother’s will stipulated that the fund would be divided among her great-grandchildren, with the majority going to Harry and William.
The remaining amount will be split among their cousins, including Zara and Peter Phillips, Beatrice and Eugenie, and Viscount Linley and Lady Sarah Chatto.
Harry received the first part of his share when he turned 21 in 2005.
Now, on his 40th birthday, he will receive the remaining £8m, which is tax-free.
The inheritance is coming at a timely moment for Harry, who has been financially independent since moving to the US and giving up royal protections.
He has been supporting himself through various ventures, including publishing his memoir Spare and appearing in a Netflix documentary with his wife Meghan Markle.
A former Palace aide revealed that the trust fund was established to pass down a portion of the Queen Mother’s estate to her great-grandchildren in a tax-efficient manner.
The aide noted that the brothers likely received around £6m between them when they turned 21, although official accounts remain private.
The Queen Mother’s gesture ensures that her great-grandchildren will receive a significant inheritance, providing them with financial security and independence.
Peoplesmind
