The late Queen Mother, Harry’s great-grandmother, had an estimated fortune of £70million which she placed into a trust fund for her family.

The Duke of Sussex is in line to scoop a £7million share when he turns 40 on September 15, Australian magazine New Idea suggested, having cited The Times.

Along with substantial earnings from the Netflix deal he and Meghan Markle signed in September 2020, Harry and his brother William received a sizeable chunk of cash from the tax-exempt Duchy of Cornwall. The most recent estimate of Harry and Meghan’s combined net worth is around $60million (about £46million).

Harry is likely to receive a larger share of the generous bequest than his older brother, because of how finances are managed within the Royal Family.

As next in line to the throne, William will benefit from the huge wealth of the Duchy of Cornwall, a private estate that pays for the public, charitable and private activities of the King’s heir. As a result, Harry is likely to pick up slightly more than half of the £14million earmarked for the brothers.

While that might seem an enviable sum, the Duke and Duchess of Sussex are among the worst-off among their circle of friends.

George Clooney, currently touted as a potential US presidential candidate by some Democrats after Joe Biden’s shock withdrawal from the 2024 election, is almost 10 times richer than Harry Meghan. His net worth – shared with top lawyer wife Amal – is in the region of $560million.

Filmmaker Tyler Perry, named by some sources as Princess Lilibet’s godfather, lent Harry and Meghan a property valued at over $15million (£12million) when they first moved to California. His total net worth is estimated to be around $1.4billion.

Harry and Meghan’s neighbour Oprah Winfrey, who conducted the explosive 2021 “Megxit” interview in which the couple made racism allegations against a member of the Royal Family, is even wealthier.

The so-called “Queen of Media”, who was born to a poverty-stricken single mum in rural Mississippi, presides over a vast media empire worth billions. Her own personal fortune is estimated to be $2.8billion (£2.2billion).