Prince Harry is set to inherit a staggering payday as part of his inheritance from Queen Elizabeth on his 40th birthday. The sum will likely come as a huge monetary boost to the senior royal family member, who has attempted to make his way financially since splitting from the House of Windsor in 2020.

The Duke of Sussex will inherit a large sum from the Duchy of Cornwall

Prince Harry is in line to inherit funds from the Duchy of Cornwall. The Duchy of Cornwall is a private estate established by Edward III in 1337 to provide independence to his son and heir, Prince Edward, according to an official website about the private land estate.

Queen Elizabeth II’s mother put $90 million into a trust fund for her family and listed that Harry would access his share when he turned 40. Christopher Anderson, author of The King, revealed why Harry had to wait so long for his piece of the pie.

“Why 40? To a woman who nearly lived to be 102, one can only imagine that 40 seemed like the perfect age to come into some extra cash — when you’re young enough to appreciate it but also old enough, and hopefully wise enough, not to blow it,” Andersen said in an interview with Fox News.

Anderson continued, “The Queen Mother placed two-thirds of her [estimated] $120 million fortune into a trust fund for her great-grandchildren.”

“She knew that when Prince William became Prince of Wales, which he did when his father became king, he would inherit the Duchy of Cornwall, which now boasts assets of over $1 billion. In divvying things up, the Queen Mother may have left Harry a skosh more. In the meantime, the value of the trust has simply increased, Harry’s share along with it.”

Harry will receive $8.5 million from his share on Sept. 15, 2024. William, as head of the duchy, reportedly received less when he turned 40 in 2022.

Who runs the Duchy of Cornwall today?

After almost 70 years as the Duke of Cornwall, King Charles passed the title to his firstborn son, Prince William, when Charles became king in September 2022. William now heads the Duchy. The tax-exempt private estate funds the Duke of Cornwall’s “public, charitable, and private activities,” says its website.

William is the 25th Duke in the estate’s history. He earned the title as the eldest surviving son of the monarch and the heir to the throne.

As revealed in the Duchy of Cornwall’s Integrated Annual Report, William, who does not get a salary for his work for the House of Windsor, received $30 million from the Duchy during the 2023-24 financial year.

“The Duchy’s estate extends beyond the geographical boundaries of Cornwall – covering 52,264 hectares of land across 20 counties, mostly in the South West of England. It comprises arable and livestock farms, residential and commercial properties, as well as forests, rivers, quarries, and coastline,” explains the estate’s website.

William’s role as its head is reportedly to “manage this estate in a way that is sustainable, financially viable and of meaningful value to the local community.”

Did Prince Harry also inherit money from Princess Diana?

Princess Diana and Prince Harry | Tim Graham Photo Library via Getty Images

After their mother’s death, Princess Diana, Prince William, and Prince Harry reportedly received money from a trust fund set up by the late Princess of Wales. The sum was reportedly around $10 million to be split between William and Harry.

Forbes estimated that William and Harry began receiving dividends from their inheritance at the age of 25. They received the full amount when each turned 30.

Prince Harry and Meghan Markle reside in Montecito, California, and have two children, Prince Archie and Princess Lilibet.