Prince Harry is set to receive a huge payout on his 40th birthday later this year, according to a report. The Duke of Sussex will turn 40 on September 15. In striking contrast to his elder brother Prince William, who received a ceremonial bell concert at Westminster Abbey on his 40th birthday, Prince Harry will inherit millions on his milestone birthday, thanks to arrangements made by his late great-grandmother, Queen Elizabeth, the Queen Mother. 

According to the Times, the late Queen Mother established a $90 million trust fund for her family, which listed that the Duke of Sussex would receive his share when he turned 40. Prince Harry will reportedly rake in around $8.5 million from his share, which is more than Prince William is slated to get.

However, Prince Harry would still have to pay taxes on his inheritance, while his elder brother would benefit from the tax-exempt Duchy of Cornwall – a private estate that funds his public, charitable and private activities. 

“William will benefit from the vast wealth of the Duchy of Cornwall, a private estate that funds the public, charitable, and private activities of the king’s heir,” a source said, per New York Post. “As a result, Harry is likely to receive slightly more than half of the 14 million pounds allocated for the brothers,” they added. 

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With an estimated current net worth of about $60 million, Prince Harry’s upcoming inheritance would be a welcome addition, the outlet noted. 

Following their exit as senior working royals, Prince Harry and his wife Meghan Markle settled in Montecito, California. Their net worth was largely boosted because of the several high-profile projects they’ve taken on since quitting royal life in 2020. These projects include a Netflix original, Prince Harry’s tell-all memoir Spare, and Meghan Markle’s 12-episode podcast, Archetypes. 

According to the Post, Prince Harry is even considering publishing a follow-up book. The duo are also in for a big payday with the forthcoming launch of Meghan Markle’s new lifestyle brand, American Riviera Orchard.