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This week has left plenty of people feeling like Donald Trump is making their lives more difficult. And, it seems that Prince Harry, Duke of Sussex can be added to that list. Harry recently received over $10,000,000 after settling his lawsuit against tabloid publisher News Group Newspapers. Yet, despite what his barrister David Sherborne called a “monumental victory” for the royal, he may ultimately pocket far less of the payout than he thought. And, it’s all because he lives in the United States, per The Daily Mail.
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A source told the Daily Mail that “As a U.S. resident, Harry has to pay tax on his worldwide income unless it’s been taxed in Britain.” They added, “And here’s the sting in the tail: legal damages are not taxed in the UK.” Harry is reportedly using most of the money he received in the settlement to pay his lawyers. And now, he’ll need to use some of what’s left over for taxes.Â
This financial setback likely won’t affect Harry too much
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Prince Harry and Meghan Markle, Duchess of Sussex, made the move from the U.K. to California back in 2020 after cutting ties with their royal roles. Now, after Catherine, Princess of Wales reportedly extended an olive branch to the couple amid the LA fires and news that being in the U.K. would have saved them quite a bit of money on taxes, we could see how Harry’s home country could be looking better than ever right about now. It doesn’t seem, however, that the feud between Harry and William, Prince of Wales, has come to an end, so he may still not feel particularly welcome back home.
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While Harry, like so many of his fellow U.S. residents, may be bemoaning the financial downsides of Donald Trump’s second presidency kicking off, this monetary setback shouldn’t be too much of a problem for the duke. In September 2024, Harry’s 40th birthday earned him a massive inheritance from his great-grandmother, Queen Elizabeth, the Queen Mother. Hitting the milestone birthday meant gaining access to a $10 million trust fund. So, while Harry’s big legal battle payday may not save Meghan’s Hollywood dreams, these two are surely not strapped for cash.