Prince Harry Is ₹84 Crore Richer After Turning 40, Thanks To Late Queen Elizabeth The Queen Mother Here's How
Date
9/17/2024 1:26:51 AM
(MENAFN- Live Mint) A lot happened during Prince Harry's 40th birthday celebration on Sunday, September 15. The heir to the throne, Prince William, and his wife, Kate Middleton, 's public acknowledgement of Prince Harry's birthday came as a surprise for many. However, this was not the only highlight of the day. The other big thing that happened on September 15 was the $10 million (equal to ₹83.8 crore) amount the Duke of Sussex inherited as a gift from his late great-grandmother.
Also Read | No wish from Royal Family on Prince Harry's birthday
According to The Times, Prince Harry received an extraordinarily generous gift of $10 million from a family trust fund set up by Queen Elizabeth the Queen Mother when he was ten years old.
Queen Elizabeth the Queen Mother family trust
The report also added that Harry's great-grandmother reportedly deposited an estimated £19 million in a fund in 1994. The trust ensured that she could pass on a tax-free lump sum to her great-grandchildren.
Prince Harry and Prince William are eligible to claim the money deposited in the trust. The two brothers reportedly claimed the money in two instalments, the first one on their 21st birthday and the second on their 40th birthday.
The two received $7.9 million collectively on their 21st birthday. On their fortieth birthday, Prince William and Prince Harry will receive another $10.5 million installment.
“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,” The Times quoted a former palace aide told the newspaper.
Prince Harry, on his birthday, received wishes from Prince William, King Charles III, and Kate Middleton. The public wishes from the Royal family members after a break of two years can be seen as a hint of reconciliation between the two sides.
“Wishing The Duke of Sussex a very happy 40th birthday today!” wrote the official X account of the royal family, which Charles' office at Buckingham Palace runs.
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