On September 15, 2024, Prince Harry joins the clan of forty-somethings. The second son of King Charles III has not planned to return to his family in the United Kingdom to celebrate his 40th birthday. It is surrounded by his wife, his two children and friends that he will celebrate his 40th birthday in California, after having enriched himself by a few million. The last part of his great-grandmother’s inheritance finally comes back to him.
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Prince Harry receives final share of his inheritance
Prince Harry of the United Kingdom is 40 years old, since this Sunday, September 15, 2024. It is on the other side of the planet, far from London, that the second son of the British head of state blows out his candles. Prince Harry and his wife Meghan have been living in the United States for 4 and a half years now with their son and daughter, Prince Archie and Princess Lilibet. The latter was also born on American soil in 2021.
This Sunday, Prince Harry also became a rich man. He receives the last share of his great-grandmother’s inheritance, as was long planned and as was also the case for his older brother, Prince William, two years ago. However, the Duke of Sussex would receive a significantly more generous share of the inheritance from their great-grandmother, Queen Elizabeth also known as the “Queen Mum”, than the Prince of Wales.
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Duke of Sussex gets £10m richer for his 40th birthday
Queen Elizabeth, mother of Queen Elizabeth II, had secured the future of her descendants by creating a fund worth £90 million, or about €106 million. This inheritance was intended to enrich her great-grandchildren after her death. Elizabeth Bowes-Lyon died at the age of 101 in 2002. Elizabeth II had four children, each of whom had two children of their own, making a total of eight great-grandchildren for the Queen Mother. Elizabeth II’s sister, Princess Margaret, had two children, Earl Snowdon and Lady Sarah Chatto, who were also among the heirs to the fund. When it was created in 1994, Margaret’s children were not yet parents (today they each have two children) and were therefore their grandmother’s heirs.
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According to the very serious Economic Times, Prince Harry will receive 8 million pounds sterling on September 15. This is a last part of the inheritance that was to be secured until his 40th birthday. Like all the other descendants, the Duke of Sussex has already pocketed the first part 19 years ago. For each heir, a sum is released at their 21st birthday and the rest comes back to them at 40.
The British press explains that this sum is higher than the one that Prince William received at the age of 40, Queen Elizabeth wanting to ensure the lifestyle of the younger son who could be harmed by his position. The Prince of Wales, as heir to the throne, has an annual income assured by the substantial profits of the Duchy of Cornwall, which is not the case for Harry. For information, last year the “Duchy of Cornwall” of which William is now the beneficiary, brought him 23.6 million pounds or 28 million euros.
The Telegraph newspaper specifies that from this fund created in 1994, the total sum of 19 million pounds was intended for the two sons of King Charles III, whose distribution between the two is unequal and then distributed in two stages, at 21 and 40 years old. Elizabeth having died more than 7 years after the creation of the fund, according to the threshold imposed by British inheritance laws, the inheritance is therefore not taxable. The British press agrees to say that an initial sum of 6 million pounds was divided in two between William and Harry for their first payment at 21 years old.
Prince Harry’s previous inheritance was from his mother. Diana died in 1997 and left an inheritance of £6.5 million, or about €7.7 million, to each of her two sons. The inheritance was released to them when they reached the age of 30. The fund manager placed this sum and invested, allowing the initial inheritance to grow. So, for his 30th birthday in 2014, Prince Harry pocketed around £10 million, or nearly €12 million.
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