Prince Harry becomes a birthday millionaire

LONDON, England – Britain’s Prince Harry turned 25 Tuesday in the knowledge that he is now entitled to part of the multi-million dollar inheritance left to him by his late mother. Harry was just 12 years old when Diana, Princess of Wales, was killed in a car crash in Paris in 1997.

His mother left an estate worth £21 million ($35 million), but more than £8 million ($13.31 million) was paid in inheritance tax, leaving around £13 million ($21.6 million) to be shared between Harry and his brother William, who is second in line to the throne, the British Press Association reported.

Much of that money is thought to have been invested but it is not known if the economic downturn has affected the amount.

Both princes are prevented from spending the lump sum of their inheritance until they turn 30. But Harry will pocket all income generated by his portion of the estate — around £300,000 ($500,000) a year.