Double Click 728 x 90
Double Click 900 x 250

Prince William and Harry to divide Diana fund’s earnings

Muhammad UsmanMultimedia Journalist

07th Jul, 2020. 07:12 pm
Adsense 160 x 600

Prince William and Prince Harry have agreed to officially divide future proceeds from the memorial fund of their late mother Princess Diana.

As financial records reported, the Cambridges’ Royal Foundation and the Sussex Royal Foundation, which is no longer involved, had signed an agreement in December as part of their separation of charitable activities.

The agreement between the two foundations was signed just a month before the departure of the Duke and Duchess of Sussex from the Royal family.

Back in April 2013, the Royal Foundation took over the legal control of Princess of Wales Memorial Fund to shield future revenues upon completion of the operations.

The fund receives sporadic donations despite being inactive at the moment, with the cash being guided towards Harry and William ‘s preference of charities.

Last year in June, Harry and Meghan split from the joint charity which was then renamed the Duke and Duchess of Cambridge Royal Foundation with the formation of another Sussex Royal foundation.

“On 18 December 2019, an agreement was signed with the Sussex Royal Foundation by which the Royal Foundation intended to grant half of the net future proceeds received by the Diana Fund to Sussex Royal,” According to the Royal Foundation ‘s report and consolidated financial statements for the last year

“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 instead be donated to another charity of the Duke of Sussex’s choosing.”

The records showed that a sum of £21,346 was sent to the Royal Foundation in 2019 from The Diana, Princess of Wales Memorial Fund, following a donation of £21,583 the previous year.

Harry had asked that his share be directed towards a charity which he had helped create for the victims of HIV / Aids and extreme poverty of Malawi, Botswana, and Lesotho. The name for the non-profit was Sentebale.

According to the Royal Foundation’s annual report, Sussex Royal received an unconditional grant of £ 145,000 for the development of the charity.

Another restrained £ 100,000 grant also went to Sussex Royal for Travalyst, Harry’s plan for sustainable tourism.

Adsense 300 x 250

Download BOL News App for latest news