THE Princes have agreed to split the money from Princess Diana’s memorial fund between their charities as they finalise details of their separate working lives and go their own separate ways.
According to financial documents, an agreement was signed in December last year between the Royal Foundation of the Duke and Duchess of Cambridge and the now-abandoned Sussex Royal Foundation. In April 2013, the Royal Foundation charity assumed legal control of The Diana, Princess of Wales Memorial Fund to safeguard any future income upon the ending of its operations.
It was agreed just under a month before the Duke and Duchess of Sussex announced they intended to step back as senior members of the royal family and become financially independent. The fund is no longer actively fundraising, but it is understood to occasionally receive some legacies and donations, with the bulk of its money originally going to charities chosen by William and Harry.
The Royal Foundation had previously operated under the names of the Sussexes and Cambridges, but in June last year Harry and Meghan revealed they were to formally split from their joint charity. It was then renamed the Royal Foundation of the Duke and Duchess of Cambridge, while the separate, but now defunct, Sussex Royal Foundation was established. The Royal Foundation’s report and consolidated financial statements for the year ending December 31, 2019 said: “On December 18, 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.
The Princess Diana Memorial Fund
The Diana, Princess of Wales Memorial Fund was an independent grant-giving foundation established in September 1997 after the death of Diana, Princess of Wales, to continue her humanitarian work in the United Kingdom and overseas. It was a registered charity under English law.