Prince Harry has been hit with a devastating blow as new claims suggest that most of the multi-million-pound inheritance he was left by his mother, Diana, Princess of Wales, and his great-grandmother, Queen Elizabeth, The Queen Mother, has been spent.

Writing in his Celebrity Intelligence newsletter, Dan Wakeford, a royal expert and former editor of People Magazine, suggests that the Duke and Duchess of Sussex are “wildly unhappy” and that they have reportedly had to “cut back”, cutting their number of staff members from 16 full-time employees to just five.

Mr Wakeford writes that after speaking with five sources close to the Sussexes, Meghan is reportedly aware of how careful they ned to be when it comes to their finances.

Prince Harry inherited vast sums of money from his late mother and great-grandmother (Image: Getty)

Prince Harry was left huge amounts of inheritance from his late mother and great-grandmother (Image: Getty)

The columnist explains: “Meghan has a sense of how careful they need to be …. Harry – raised in a world where everything was provided – reportedly lacks basic awareness of what things cost.”

In their shock interview with Oprah Winfrey in 2021, Harry confirmed that he was cut off in “the first quarter of 2020,” but revealed that he had what his late mother, Diana, had left him. According to Forbes, Harry received an “estimated $10 million inheritance” from his late mother’s estate.

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Mentioning his inheritance in Spare, he wrote: “Upon reaching thirty, I’d receive a large sum left to me by Mummy. I scolded myself for being gloomy about that: most people would kill to inherit money. To me, however, it was another reminder of her absence, another sign of the void she’d left, which pounds and euros could never fill.”

While Harry noted that he could spend the money on security, he said that spending it would be a “last resort”. He added: “We saw that money as belonging to Archie. And his sibling.”

Prince Harry earns huge sums of money through speaking events (Image: Getty)

Prince Harry’s late great-grandmother is understood to have set up the trust with an estimated £19million in 1994 to provide a tax-free lump sum to all of her great-grandchildren. When he turned 40 in 2024, Harry reportedly received between £7 and £8 million after the fund matured over the years.

The Queen Mother was 94 when the fund was set up. The money was to be distributed among her younger relatives, with a first payment on their 21st birthdays and a second payment when they reached 40.

Ever since they stepped back from their roles as senior working royals, the Sussexes have had numerous ways to make money, including lucrative deals with streaming giants such as Netflix and Spotify.

As well as this, the pair regularly make paid appearances to speak at events, gain money through Meghan’s As Ever business and previously received huge sums from Harry’s memoir, Spare.

When contacted for comment, a spokesperson for the Duke and Duchess of Sussex said: “The ‘unnamed sources’, once again, doing a lot of very heavy lifting in this report. If they had any faith or evidence to back up what they allege, I don’t understand why they wouldn’t just go on the record with such claims… still, I suppose it makes writing a lot easier for Mr Wakeford when you don’t have an Editor standing over you asking you to evidence it or ‘stand it up’.”