Prince Harry, Prince William to split Princess Diana's memorial fund for charities

Princess Diana

Reports have said William and Harry recently reconciled over video calls, though their representatives have not confirmed this.

The latest step toward completely separating their businesses is that the fund set up in the memory of their late mother Princess Diana will be split between the brothers' charitable efforts.

The brothers have not been seen together publicly since the Duke and Duchess of Sussex's final royal engagement for Commonwealth Day earlier this year.

It was agreed just under a month before the Duke and Duchess of Sussex announced they meant to step back as senior members of the royal family and become financially independent.

Because of their decision, their half of the proceeds from the Diana memorial fund "will instead be donated to another charity of The Duke of Sussex's choosing", according to financial documents cited by People magazine.

Moving forward, Prince Harry chose Sentebale, a charity he set up to help the victims of extreme poverty and HIV/Aids in Lesotho, Botswana, and Malawi, for the donations.

In April 2013, the Royal Foundation charity assumed legal control of the Diana, Princess of Wales Memorial Fund to protect any future income upon the ending of its operations.

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The report notes that Sussex Royal received pounds 145,000 to fund its set-up and launch, with a further pounds 100,000 to Travalyst.

The fund will be split between the Royal Foundation and another charity of Harry's choice, a royal source told Insider.

Proceeds raised from the fund average at around £20,000 a year, and up until this recent agreement was signed, all of that money was being donated to the previously-shared Royal Foundation. It also mirrors the name of their son, one-year-old Archie Harrison.

Documents have revealed that William and the Sussex Royal Foundation agreed to split the future proceeds of the memorial fund between both of their charities.

This happened shortly before Prince Harry and Meghan Markle announced they intend to step back as senior members of the royal family and become financially independent. They are now living in their mansion in Los Angeles.

William gave Harry a shout-out in a letter to The Diana Award in May.

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