Prince Harry Was ‘Cut Off’ Financially From The Royals But Diana Left Him Millions
During their tell-all interview with Oprah Winfrey, Prince Harry and Meghan Markle revealed that they’d been cut off financially from the Royal Family in the first quarter of 2020.
The couple explained they were only able to buy their California home and move away from the U.K. because of the money Princess Diana, Harry's mother, left him, leading many viewers to wonder how much money Diana left to her sons when she died.
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Why were they cut off?
During their chat with Oprah, the couple made several huge revelations about their life as working members of the Royal Family.
This included, among other things, Meghan’s mental health struggles and “concerns and conversations” about the colour of their child’s skin before he was born.
The Duchess of Sussex also opened up about an alleged feud with Kate Middleton and set the record straight about who made who cry.
Another of the revelations was that the couple were “cut off financially” from the Royal Family after they’d decided to take a step back from official duties.
However, Harry and Meghan were able to rely on the inheritance left behind by his mother, Princess Diana.
“... Without that we would not have been able to do this,” he explained.
How much did Diana leave them?
According to Forbes, it’s estimated that Princess Diana left millions for both of her sons before she died.
Although estimates vary, it’s believed Harry and William eventually received around £10 million each from their late mother.
Her estate was reportedly made up of stocks and shares, jewellery, clothing, personal possessions and her multi-million-pound divorce settlement from Prince Charles.
The Independent suggests the Princess of Wales actually left an estate worth over £21 million, but £8 million was paid out in inheritance tax, leaving less money behind for her sons.
As William and Harry were 15 and 12 when Diana died in 1997, her remaining money was invested by royal advisors.
Its value had increased significantly by the time the princes were old enough to access it.
“It’s like she saw it coming and she’s been with us through this whole process,” Harry told Oprah.
What about the rest of the Royal Family?
Perhaps unsurprisingly, the Royal Family is pretty wealthy.
The Sunday Times Rich List estimated that the Queen’s net worth in 2020 was around £350 million pounds.
While it’s definitely a lot of money, it is a dip of around £20 million from the previous year.
The Crown Estate's annual report for 2019/2020 stated that the British Royal Family’s land portfolio was worth around £13.4 billion last year.