Prince Harry is set to receive a huge payout on his 40th birthday later this year. In a striking contrast to his elder brother, the Duke of Sussex will inherit millions on his milestone birthday. Meanwhile, Prince William received a ceremonial bell concert at Westminster Abbey when he turned 40.
Duke of Sussex to cash in millions on 40th birthday
Thanks to his late great-grandmother's arrangements, Prince Harry will rake in around $8.5 million. The late Queen Mother established a $90 million trust fund for her family, which listed that the Duke of Sussex would receive his share when he turned 40, reports Times.
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However, Prince Harry would still have to pay taxes on his inheritance, while Prince William would benefit from the tax-exempt Duchy of Cornwall. The Duke of Sussex's share is a lot more than what the Prince of Wales is slated to receive.
“William will benefit from the vast wealth of the Duchy of Cornwall, a private estate that funds the public, charitable, and private activities of the king’s heir,” an insider told Mirror, adding, “As a result, Harry is likely to receive slightly more than half of the £14 million allocated for the brothers.”
{{/usCountry}}“William will benefit from the vast wealth of the Duchy of Cornwall, a private estate that funds the public, charitable, and private activities of the king’s heir,” an insider told Mirror, adding, “As a result, Harry is likely to receive slightly more than half of the £14 million allocated for the brothers.”
{{/usCountry}}With an estimated current net worth of about $60 million, Prince Harry's upcoming inheritance would be a welcome addition. Despite having millions, the Duke and Duchess of Sussex have the lowest net worth in the entire royal family.
Following their exit as senior working royals, the couple settled in Montecito, California. Since then, they have established several high-profile projects, including a Netflix original, Prince Harry's tell-all memoir Spare, and Meghan Markle's 12-episode podcast, Archetypes.