British prince gained access to part of the inheritance his mother had left him
British prince gained access to part of the inheritance his mother had left himPrince Harry turned 25 yesterday, becoming an even more eligible bachelor as he gained access to part of his inheritance from his mother, Princess Diana.
The quarter-century mark denoted a coming of age for the flame-haired prince, who is third in line of succession to the British throne.
Harry spent his birthday continuing his pilot training in the Royal Air Force.
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Richie rich: Prince Harry spent his 25th birthday yesterday continuing his pilot training. |
Harry and his brother Prince William were left equal shares in their mother's estate following her death in a 1997 car crash in Paris.
At the time, the shares were estimated to be about $10.6 million (Rs 51 crore) each.
Under Diana's will, the princes are entitled to all the income from their share when they are 25 and they gain access to the capital at age 30. William is now 27.
Patrick Jephson, who was involved with Diana's finances when he worked as her private secretary, said the princess' money was "very prudently" invested.
"Of all the concerns that a young man in his position might have, money is not one of them, and likely never will be," Jephson said.
As a lieutenant in the British Army, Harry's annual pay is between u00a329,006 and u00a332,061 (Rs 23.2 lakh to Rs 25.7 lakh).
Dickie Arbiter, former royal spokesman and now a commentator, said Harry's new wealth was unlikely to change his life.
"I doubt whether he'll touch the money because he manages quite well with his Army salary. What does he need to spend it on? Very little," said Arbiter.
