Will Prince Harry Inherit Money From Prince Philip, Even Though the Royal Family Cut Him Off?
Prince Harry, Duke of Sussex, is back in the United Kingdom for Prince Philip, Duke of Edinburgh’s funeral. The senior royal died on April 9 after having been released from a 28-day hospital stay a month prior. With the knowledge that Harry and Meghan, Duchess of Sussex, lived off the money Diana, Princess of Wales left him, what will Harry inherit from his grandfather, if anything?
How did Philip die?
Philip’s death marks the first death of a senior royal since the death of Princess Margaret in 2002. Queen Elizabeth II’s communications staff announced his death on April 9, revealing he died peacefully in Windsor Castle.
The Duke’s cause of death has not been revealed. But he was hospitalized to treat an infection and undergo a heart procedure. Individual members of the royal family have been releasing their own statements in the time since his death. Harry issued his statement on April 12 on the Archewell website. It read:
“My grandfather was a man of service, honour and great humour. He was authentically himself, with a seriously sharp wit, and could hold the attention of any room due to his charm—and also because you never knew what he might say next.”
The statement continued:
“He has been a rock for Her Majesty The Queen with unparalleled devotion, by her side for 73 years of marriage, and while I could go on, I know that right now he would say to all of us, beer in hand, ‘Oh, do get on with it.’”
Philip’s funeral will be televised live on Saturday, April 17.
How much money did Harry inherit from Diana?
Harry is already back in the U.K. from California to attend his grandfather’s funeral, but Meghan did not accompany him due to her pregnancy. (Her and Harry’s daughter is due in June.) He will likely have to sit by himself at the service due to COVID-19 safety restrictions. The number of attendees was pared down to 30 for Philip’s service instead of the previously planned 800.
Sitting by himself might be a good option, considering the undoubtedly tense dynamics between Harry and other royals following the Oprah Winfrey interview. In that interview, Harry revealed his family cut him off financially after he and Meghan decided to step down as senior royals. Their hope was to continue working for the Queen from afar in Canada, albeit with less responsibilities. But the family blindsided them in February 2020 by deciding they could no longer be working royals.
This meant no more income from the royal estate, and no more security detail. The loss of security is what scared the couple the most. Just before the world went into lockdown because of COVID-19, the Sussex royals moved into Tyler Perry’s home. The filmmaker provided them with security. In the time between being cutoff and establishing their company, Archewell, Meghan and Harry lived off the Prince’s inheritance from his mother, Diana.
“I have what my mum left me and without that we wouldn’t have been able to do this,” he told Oprah. “It’s like she saw it coming and she’s been with us through this whole process.”
According to Forbes, Harry and Prince William, Duke of Cambridge, inherited £10 million (or $13.8 million) each when Diana died in August 1997. The money was put into a trust for them to access when they were older.
Prince Philip’s estate
When it comes to Philip’s estate and Harry’s possible inheritance, things are up in the air. The Duke and Queen Elizabeth had many properties they called home throughout their 73-year marriage, including Buckingham Palace. But their various residences were bequeathed to them as part of the royal estate passed down to monarchs. The Queen does own the Balmoral and Sandringham estates, however.
Philip made money just like the other senior royals up until his retirement in 2017. His salary (a reported £400,000 per year) was covered by the yearly Sovereign Grant. The Queen’s salary is paid via the Privy Purse. None of Philip’s former salary from the Sovereign Grant will go to his family members, as it was paid for by U.K. taxpayers.
Philip and the Queen did have their own private fortunes, however. According to Celebrity Net Worth, Philip was worth $30 million when he died. He had a vast art collection as well as a portfolio of stocks that he shared with his wife. According to The Express, the Queen will likely hold onto these assets.
The Duke also had his own money from his naval career and was born into royalty himself. Whatever money he made on his own is what can be passed down to his family via his will. The contents of the royal’s last will and testament have not been revealed, but there doesn’t appear to be any rule barring Philip from leaving an inheritance of some kind for Harry.
Along with his money, Philip’s titles and patronages can also be passed down to other family members. It’s possible that Charles, Prince of Wales, will take on the title of Duke of Edinburgh until he becomes king. If and when Charles is king, William and Catherine, Duchess of Cambridge, would be bumped up to Prince and Princess of Wales.
