Reports from reputable British media detail that Queen Elizabeth the Queen Mother set up a major trust fund in 1994, placing an estimated £19 million (about two‑thirds of her personal wealth) into trusts for her great‑grandchildren. This arrangement was an estate planning move to benefit younger generations and to minimise inheritance tax liability.

According to historical reporting, the structure of the trust was such that beneficiaries could receive sums at age 21 and again at age 40. 

When she died in 2002 at age 101, newspaper accounts indicated that Princes William and Harry were likely to share roughly £6 million on their 21st birthdays and a further £8 million on turning 40.

Recent coverage has brought renewed attention to this arrangement as Prince Harry turned 40 in September 2024.

Multiple reputable outlets such as The Times and Tatler reported he may now receive the second staged payout — with estimates around £7–£8 million — a share from the trust established by his late great‑grandmother.

At the time the trust was set up, it was widely understood that other royal cousins, including Zara and Peter Phillips, Princess Anne’s children, and Princesses Beatrice and Eugenie, would also benefit from the fund.

Princess Beatrice and Princess Eugenie, as documented in reliable biographical sources, also have separate financial provisions: after their parents’ 1992 divorce, Queen Elizabeth II provided a £1.4 million trust fund for them, which is distinct from any later trust established by the Queen Mother.

It is important to note that details of these trusts and exact payout figures remain private, because royal family wills and private trust documents are not subject to public disclosure.

Reports about payout amounts and timings are based on informed reporting from media with access to historical documents and palace aides, rather than official financial statements released by Buckingham Palace.