Prince Harry recently celebrated his 40th birthday with a significant financial boost, inheriting over $10 million from his late grandmother, Queen Elizabeth.
The money came from a trust fund established by his great-grandmother, Queen Elizabeth the Queen Mother.
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The fund, set up in 1994, was designed to provide tax-efficient care for her great-grandchildren in their foreseeable future.
According to The London Times, both Prince Harry and his older brother, Prince William, received portions of the trust in two installments
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The first installment was when they turned 21 years old while the remainder was to be received when they turned 40.
Consequently, at 21, the brothers reportedly shared $7.9 million, with Harry receiving an additional $10.5 million on his 40th birthday.
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Why Prince Harry got an inheritance from his great-grandmother
According to The Times, A former palace aide explained that the trust fund was intended to pass down part of the Queen Mother’s estate to the younger generation.
Furthermore, the Queen Mother intended to pass on part of her estate while protecting her great-grandsons from its taxes.
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To effectively do this, the assets were placed in a trust fund to be passed on to her grandsons as intended at different ages.
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The Sussex’s response
While Harry’s representative has not commented on the news, news outlet Page Six, reported The Duke of Sussex had plans for his birthday.
Additional reporting clarified that Meghan Markle had organized a party in Montecito, California, where the couple resides.
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The Duke of Sussex received public birthday wishes from his father, King Charles III, and his brother, Prince William.
Despite their strained relationship following Harry and Meghan’s departure from royal duties in 2020, members of the Royal family went out of their way to share their birthday wishes.
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The royal family’s official social media accounts sent birthday messages to celebrate the Duke of Sussex.
The Waleses posted a photo of Harry from a 2018 visit to Dublin to share their wishes on his special day.
Consequently, the photo shared by The Waleses noticeably cropped Harry’s wife Meghan out of the image.
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