September 07, 2024
Prince Harry is reportedly set to receive millions of euros on his 40th birthday September 15.
Per reports, Harry, the Duke of Sussex, will receive the huge sum from a trust fund started by his late great-grandmother, the Queen Mother in 1994.
Per The Times, the trust fund was worth an estimated £19 million and was meant to provide a tax-free sum to the younger royals when they grew up. The fund was set to be distributed into the royals at two stages, first on their 21st birthdays and second on their 40th birthdays.
A former Palace aide said: “There was a trust fund 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 a slice of her estate down in a tax-efficient way. It was a way in which some of her estate could be ring-fenced for them.”
It is reported that the late Queen Mother left more money for Prince Harry as compared to Prince William as she assumed the latter would receive proceeds from the Duchy of Cornwall when he became the heir apparent.