Featured Image Credit: Andy Stenning - WPA Pool/Getty Images/Tim Graham Photo Library via Getty Images
Topics: Prince Harry, The Queen, Royal Family
Ella Scott
Topics: Prince Harry, The Queen, Royal Family
Prince Harry’s net worth is set to rise this weekend as he celebrates his 40th birthday - and it’s all thanks to a gift left to him by his late great-grandmother.
Queen Elizabeth II’s mother, also called Elizabeth, was crowned Queen of the United Kingdom following her husband King George VI’s surprise accession to the throne in December 1936.
She ruled alongside the late monarch until his death in February 1952 and was 51 when her daughter, then aged 25, ascended to the throne.
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Following her youngest child being crowned sovereign, Elizabeth began to be styled as Her Majesty Queen Elizabeth The Queen Mother.
In 2002, the Queen Mother died at the ripe old age of 101 but not before putting methods in place to make sure her family gained a portion of her fortune reportedly free of inheritance tax.
“Queen Elizabeth The Queen Mother has bequeathed her entire estate (which mainly comprises the contents of her houses) to The Queen,” a statement from Buckingham Palace read upon her death.
“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.
"The Queen has decided that the most important of Queen Elizabeth's pictures and works of art should be transferred to the Royal Collection."
According to The Times, Prince Harry will finally be granted his share of his great-grandmother’s inheritance fund this weekend as the Invictus Games founder turns 40.
It’s understood the father-of-two is set to receive around £8 million when he hits the milestone birthday on September 15.
"There was a trust fund set up at the time,” a source told the publication.
"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.
"It was a way in which some of her estate could be ring-fenced for them.”
It’s thought that this is not the first time that the Duke of Sussex has benefited from his late relative's kindness.
When Harry and his older brother William, the Prince of Wales and heir to the British throne turned 21, they received a cool £6 million between them.
William, who turned 40 in June 2022, is also expected to have received a lump sum.
Not a bad 40th birthday present, right?