Prince Harry set for R 190 million payout on 40th birthday

Prince Harry set for R 190 million payout on 40th birthday

Prince Harry is about to receive a considerable financial boost as he turns 40.

A trust established by the Queen Mother in 1994 will grant him £8 million (approximately R190 million) on his milestone birthday, which is on 15 September.

PRINCE HARRY’S INHERITANCE

The Queen Mother set up the trust when Harry was just ten years old.

The total amount of the trust was £19 million (around R450 million), according to Daily Mail.

Palace sources say they distributed the funds in two stages: first, on the beneficiaries’ 21st birthdays, and then again when they turned 40.

A former palace aide explained, “The trust was a clever way for the Queen Mother to ensure her great-grandchildren would receive their inheritance in a tax-efficient manner.

PRINCE HARRY AND PRINCE WILLIAM’S TRUST

It also allowed her to pass on a significant portion of her estate without incurring heavy inheritance taxes.”

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For Harry and his brother Prince William, the trust provided £6 million (about R142 million) each when they turned 21.

This amount increased to £8 million (R190 million) at the age of 40, according to the Telegraph.

It’s worth noting that Harry is set to receive a larger sum compared to William.

THE ROYAL COUSINS

The trust also benefited other royal cousins, including Zara Phillips, Peter Phillips, and Beatrice and Eugenie of York, alongside Princess Margaret’s children.

The funds aimed to avoid substantial inheritance taxes due to the size of the Queen Mother’s estate.

This financial windfall comes as Prince Harry’s net worth has experienced significant growth.

Since relocating to the US, his fortune has soared, according to Hello Magazine.

PRINCE HARRY’S NET WORTH

In April 2023, it was reported that he had already made £22 million (R525 million) from his memoir Spare.

The book became the UK’s fastest-selling non-fiction title upon its release.

Royal author Tom Bower noted that Meghan Markle, Harry’s wife, was initially surprised by his relatively modest finances.

Bower remarked, “Meghan was taken aback by how little money Harry had. She had expected him to be worth hundreds of millions, if not billions.”

A BANKABLE COUPLE

Prince Harry and Meghan’s financial landscape has changed considerably since their departure from royal duties.

The couple secured a £25 million (R595 million) deal with Spotify for their podcast venture, Archewell Audio.

They also signed an £81 million (R1.9 billion) agreement with Netflix for a documentary series and a £32 million (R760 million) deal for a four-book series, starting with Spare.

WEALTH AND SUCCESS

High-profile speaking engagements further bolster their financial independence.

Reports suggest that wealthy Americans have paid up to $1 million (approximately R19 million) per ticket to attend exclusive events featuring Harry and Meghan.

Despite the considerable wealth and success, Harry’s 40th birthday presents him with a crossroads.

TURNING 40

As he celebrates this milestone, he reflects on his journey from a young prince to a prominent figure in the American spotlight.

His and Meghan’s nine-bedroom mansion in Montecito, valued at £11 million (R260 million), stands as a testament to their new life.

THE ENDURING LEGACY

As Prince Harry turns 40, the substantial payout from the trust set up by the Queen Mother is a significant highlight.

It serves as both a financial boon and a symbol of the enduring legacy of the British monarchy’s past generosity.

WHAT DO YOU THINK ABOUT PRINCE HARRY’S FINANCIAL WINDFALL ON HIS 40TH BIRTHDAY?

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