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Prince Harry Is Not as Rich as You
Think
December 28, 2017
By Michael P. Delhomme, Contributing Columnist
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According to surveys of Global Wealth, there are 199,235 "ultra
high net worth" people, with at least $30 million. Prince Harry is
not one of them.  Exactly how much is Prince Harry of the UK
worth? To answer this question, we examine the assets left to
him following the tragic death of his mother, which are, as far
as we can tell, the only assets Prince Harry owns outright in his
own name.

By the way, Prince Harry's official name, which includes his title
is "His Royal Highness Henry Charles Albert David of Wales". His
birth certificate lists his name as Henry Charles Albert David of
Wales. Royals, by tradition, do not have last names. Instead,
they are known by their first names and the countries they
reign over. This is why Prince Harry's name includes "of Wales"
and why little prince George, William's first born son with Kate
Middleton, is called "His Royal Highness Prince George
Alexander Louis of Cambridge".

By the way, When last names are required, the British Royal
family use "Mountbatten-Windsor", an amalgam of the Windsor
name adopted in 1917 during the First World War as more
British than their German "Mountbatten" surname, a shrewd
political move given the unpopularity of Germans at the time.
Prince Harry chooses to use the last name "Wales", and so
presumably will Meghan Markle, after they wed in May of 2018.

At any rate, Prince Harry of Wales, was born rich, if you take
into account that the British Royals all are direct or indirect
beneficiaries of one of the world's greatest real estate, jewelry
and fine art fortunes.

Here is how the Royal Family's total wealth of 67.5 billion British
pounds (about 75.4 billion euros or 90 billion dollars) breaks
down in market value, according to a report by Brand Finance,
a business valuation consulting firm based in the UK:

1. Real Estate - 25.5 billion British pounds sterling

This is sum you get if you add up all the palaces (Buckingham
Palace, Windsor Palace, and so on, as well as all the crown
jewels and art work).

2. Brand value - 42 billion British pounds sterling

The tourists flocking yearly to see England go there drawn by
the magic or royalty and the history and prestige it represents.

This brand value translates into 550 million British pounds
sterling ($739 million) in tourist dollars and related earnings
that benefit from brushes with royalty such as the numerous
official tradesmen and firms who carry the official designations,
called "warrants"  of "cake maker to the Queen" or "shoe maker
to the queen" or some other service.

Because of this brand value, a collection of Princess Diana's
dresses, tiaras and other jewelry tours the United States,
earning about $2 million a year. These earnings are given to
charity, though they technically belong to Prince William and
Prince Harry.


Which brings us to Harry's actual assets.

Princess Diana's Will Gave Harry and William All of Her Money
































Under the terms of Princess Diana's will, executed on June 1,
1993, she left her estate , then estimated at between 22 and 28
million British pounds sterling (approximately $29 to 37.6
million) to her two sons.  Most of the money was held as cash,
which Princess Diana received in her divorce settlement from
Prince Charles.  The divorce gave Princess Diana a lump sum of
17.5 million British pounds sterling, which represented about all
that Prince Charles had at the time, according to his then
personal wealth manager, Geoffrey Bignell. Diana also inherited
money from her side of the family.

Diana died when Harry and William were 12 and 15 years old.
Under the terms of her will, Diana instructed that each of her
sons would inherit their half of the estate at age 25.

She appointed her mother, Frances Ruth Shand Kydd and her
stepfather would be executors of her will. Later, her stepfather
was replaced by her sister, Lady Elizabeth Sarah Lavinia
McCorquodale. After Diana's death, these trustees applied to
the court for a special "variance" which changed the age at
which Harry and William would inherit  to 30 years old.


In addition to the cash, the will left Harry and William 75% of
her other personal property, such as her jewelry, clothing and
personal effects. The remaining 25% was to be divide among
Diana's 17 godchildren. As mentioned, these dresses, jewelry
and other personal effects now generate $2 million annually in
fees as they tour the US as museum collections.


Thus, Prince Harry's wealth now consists of

1. Approximately, $10 to 15 million in cash  left to him by his
mother. The amount can only be guessed at by outsiders based
on the initial amount left by Diana and enlarged by a reasonable
estimate of its growth. Forbes estimated that William received
about $450,000 in income from his half. This would correlate to
about $9 million in principal if the original at 5% yield. If the
yield was at 2%, the principal would have been $22,500,000.  
Thus, we took the middle value of $15 million since it falls
halfway between the low estimate of $9 million and a high
estimate of $22 million.


2. Half of the value of the collection of personal effects. His half
of the $2 million cash flow generated would be worth between
$10 million and $50 million, depending upon ho w you choose
to value it. If you value it as an lifetime annuity, then it would
take $13.8 million to generate an annual income of $1 million.
This is the value we assign to these assets.

You could take the view that the personal effects do not
improve Harry's net worth at all, since the money goes to
charity. But, legally, the money is his, which is then given to
charity. He could, if he needs to, choose to receive the money
and use the money fro his own personal needs.


Thus, Harry's assets are $15 million plus $13.8 million, totalling
$28.8 million.

Prince Harry's Liabilities May Include Personal Loans

To find out Prince Harry's net worth, we need to subtract his
liabilities from this figure. Liabilities would include any
mortgages or other loans he owes.

To our knowledge, Harry does not have any mortgages.
However, he may have personal loans to members of the Royal
Family.

Why do we think Harry may have personal loans? The clues lie
in the few details of how the Queen uses her fortune.

When Charles divorced Diana, his personal fortune was not
enough to cover the cash demanded, according again to
Geoffrey Bignell, Charles personal wealth manager.


To make up the difference, Charles borrowed money from hi
smother, the Queen.  And he had to pay it back.

Charles, for his part, provides cash from his annual income of
approximately 30 million British pounds sterling ($40 million) to
cover his son's staff. He pays the salaries of Prince William's
staff.  

The Royal Family estimates that Prince Harry's wedding to
Meghan Markle will cost somewhere in the neighborhood of 20
million British pounds sterling.  Prince Charles will be footing
most of this bill.

It is possible that Harry will have to pay for some of these
expenses in the future. It is also possible that Prince Charles is
paying for the wedding as a gift.  No one knows.

But if Harry has incurred loans from his father or his
Grandmother in connection with the wedding, these liabilities
would have to be subtracted from his assets to arrive a  final
net worth figure.














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