Harry and William decide to equally split proceeds from Princess Diana's memorial fund

Prince Harry and Prince William have decided that moving forward they will be splitting the funds from Princess Diana’s memorial fund. According to reports, financial documents state that this decision to split the proceeds was made in December last year. The agreement was made between the Royal Foundation of the Duke and Duchess of Cambridge and the Sussex Charity that is now in the process of shutting down.

Split approved in December

As per reports, the financial document that indicated an agreement was reached between the Royal Foundation and Sussex Royal Foundation, wherein both parties would receive half of all the net future proceeds from the Diana Fund.

Princess Diana's Memorial Fund has reportedly been controlled by the Royal Foundation charity since 2013 and while the fund no longer actively does any fundraising, it still receives charitable legacies and donations from time to time.

As per the agreement, Prince Harry will receive half of all the proceeds from the Diana Fund. Owing to closure of the Sussex Roayl charity, Prince Harry has reportedly asked that his share got to the Sentebale charity which he had established to help the victims of extreme poverty and HIV/Aids in Lesotho, Botswana, and Malawi.

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Sussex Royal closing down

Earlier this week, Meghan Merkle and Prince Harry announced the official closure of their charities under the Sussex Royal brand. As per reports, the Duke and Duchess of Sussex have stated that they will instead be focusing on a different global charitable organisation named after their son, Archie.

The decision to liquidate the Sussex Royal charity comes after the couple was informed by Queen Elizabeth that they could no longer use the ‘Sussex Royals’ brand following Meghan and Prince Harry's decision to step down from their duties as senior members of the British royal family.

(Image Credit AP)

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