Prince Harry Gets $10 Million Birthday Gift: A Distribution From His Trust Fund
Prince Harry is reported to be person honored at a “light” birthday party thrown by wife Meghan Markle to celebrate big 4-0 on the weekendBut his bank account balance is also said to have increased as he marked the milestone.
Harry, the Duke of Sussex, has received $10 million from a trust set up by his great-grandmother, the late Queen Elizabeth, the Queen Mother. female London Times reportedThis is the second part of the will the monarch left to his great-grandchildren, following the first disbursement of $15 million on his 21st birthday.
According to TimeThe trust was established in 1994, when Harry was just 10 years old.
“There was a trust set up at the time. It was a way for the Queen Mother to put money aside for when her great-grandchildren got older and a way to pass on some of her wealth in a tax-efficient way,” a former palace aide, who spoke on condition of anonymity, told the newspaper. “It was a way for some of her wealth to be distributed to them.”
Because of Harry’s brother, Prince Williaminheriting the Duchy of Cornwall due to his status as heir apparent, Harry’s share of the late Queen’s largesse is believed to be larger than William’s. Other beneficiaries of the trusts set up are believed to include Zara And Peter Phillips, Princess Beatrice And Princess Eugenieand the children of Princess Margaret, Viscount Linley And Mrs. Sarah Chatto.
