THE FINAL SPLIT FOR WILLS & HARRY
WILLIAM and Harry have divided the future proceeds of their mother’s memorial fund between them in a poignant symbol of the divorce between the brothers’ operations.
The agreement, revealed yesterday, was one of the final acts of separation between the “Fab Four” – William, Kate, Harry and Meghan.
The Diana, Princess of Wales Memorial Fund was set up immediately after her death in 1997.
Between then and 2012 it distributed more than £100million to 350 worthy causes. Its money included £38million from sales of Elton John’s Candle in the Wind single in Diana’s honour and £34million from a grieving public.
It also amassed £66million through investments, commercial partnerships and proceeds from an exhibition about the late Princess.
By 2013 the Fund was wound down and it was announced that any money it had left would be given to her sons’ Royal Foundation.
Legacy
The Fund now stands at £250,000 and is no longer fundraising, but occasionally receives legacies and donations of around £21,000 a year.
This was revealed in the Royal Foundation’s newly published report and financial statements for the year ending December 31, 2019.
It shows that the agreement to split the cash was signed that month by William, now 38, Harry, 35, and their wives, with the money going to the Royal Foundation of the Duke and Duchess of Cambridge and Harry and Meghan’s Sussex Royal Foundation.
Less than a month later the Sussexes announced they were stepping back as senior members of the Royal Family. They have since had to abandon the name Sussex Royal, so their share of the Fund proceeds will now go to Harry’s African Aids orphans charity Sentebale. The Royal Foundation’s report states: “On 18 December 2019, an agreement was signed by which the Royal Foundation intended to grant half of the future proceeds received by the Diana Fund to Sussex Royal.
“In March 2020, the Duke and Duchess of Sussex announced that they would no longer be operating Sussex Royal as their primary philanthropic vehicle in the UK and accordingly their share of the net income will be donated to another charity of the Duke’s choosing.”
It also shows the Royal Foundation received £21,346 from the Diana Fund last year. In 2018 it was £21,583. The Foundation’s income was £6.7million, mostly from donations, grants, royalties and legacies.
It has agreed to provide “a home for legacy projects set up by the Duke and Duchess of Sussex”, including the Empowering Communities and Full Effect programmes.
The Endeavour Fund, which helps wounded ex-military personnel, was transferred to the Invictus Games Foundation, while the Coach Core programme for young people has become a new charity.