Key reason Prince Harry got huge inheritance payout and Prince William didn’t
A large chunk of money from was left for Prince Harry and Prince William when the Queen Mother died 22 years ago, but the Duke of Sussex was given a bigger sum of inheritance for a reason. The Queen Mother, who died 22 years ago, had kindly thought about her great-grandchildren, Prince William and Prince Harry’s financial futures, long before she died.
Because of her careful decisions, Prince Harry reportedly received a more significant share following her death in 2002 when she died at the old age of 101. The reason behind this discrepancy in inheritance can be attributed to the differences in the princes’ future financial prospects – with William set to inherit substantial royal assets when he becomes King. Estimated to be worth around £70million, the Queen Mother’s estate included valuable assets and property, and two-thirds of her fortune was put into a trust fund for her great-grandchildren, with reports suggesting Harry was the primary beneficiary.
As first in line to the throne, Prince William will obtain more royal resources and assets when he becomes King. Whereas Prince Harry, the younger sibling, and fifth in line to the throne, is positioned further down the line of succession. The disparity in inheritance set to be received, likely influenced the distribution of inheritance given by the Queen Mother. Buckingham Palace revealed some details about the Queen Mother’s will after she died, and her estate was valued between £50-£70million and was passed on to the late Queen Elizabeth II.
A statement at the time read: “Queen Elizabeth The Queen Mother has bequeathed her entire estate (which mainly comprises the contents of her houses) to The Queen. “In her will, she asked The Queen to make certain bequests to members of her staff, and these bequests will be subject to Inheritance Tax in the normal way.” Important pictures and works of art were also transferred to the Royal Collection.
The late Diana left her boys around £12million, which was reduced to £8.5million after death duties, but investments overseen by royal advisors saw this amount grow to over £20million over the years. When Prince Harry and William were in their twenties, they were able to access funds left by their late mother. Harry alongside, his wife, Meghan Markle, are said to have used some of this money to start their new life in the US in 2020 after “stepping down” as working royals and leaving the Firm.
Their relocation to the United States, particularly to California, saw them invest in a lavish £12.8 million mansion, partially funded by an £8.3 million mortgage. Diana’s inheritance also consisted of stocks and shares, jewellery, dresses, other personal belongings and cash from her £17million divorce settlement.
Royal wills are not normally made public, but in this case, details of Diana’s were changed by a variation order in the High Court just months after her death in 1997 and both the original and new will were made public by executors.
