Princes William and Harry agree to split Diana memorial fund

Prince Harry is thought to have requested that his share goes to Sentebale, the charity he founded that helps the victims of extreme poverty

The Duke of Cambridge and the Duke of Sussex have agreed to split the future proceeds given to the Diana Princess of Wales Memorial Fund, which was set up to honour the legacy of their late mother.

According to financial documents, the two brothers signed an agreement last year shortly before Prince Harry and Meghan Markle announced their decision to step down from their roles in the royal family.

While the Diana fund is no longer actively fundraising, it does receive occasional donations and legacies.

Any money that the fund did receive was then forwarded onto other charities, as chosen by Prince William and Harry.

Previously, the brothers were involved in the same charity under the Royal Foundation, which their wives, Kate and Meghan, were also part of.

However, in June last year, it was announced that the two families would split their philanthropic endeavours, leading Harry and Meghan to form the Sussex Royal Foundation, which has since been abandoned due to the couple’s decision to quit the royal family.

Now, the Royal Foundation’s consolidated financial statements for last year state: “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.

“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 document states that the Royal Foundation received £21,346 from The Diana, Princess of Wales Memorial Fund in 2019.

Moving forward, it is thought that Prince Harry will donate his portion of the funds to Sentebale, the charity he founded to support the victims of extreme poverty and people with HIV/Aids in Lesotho, Botswana and Malawi.

Prince Harry and Meghan are in the midst of setting up a new charitable organisation named Archewell.

The couple, who are living in Los Angeles, have not yet revealed exactly what the organisation will encompass or support, but it is expected they will announce such details in due course.