Prince Harry has gotten a huge payout of $12 billion after securing big win in NGN lawsuit, but how much of it will the Duke actually get is the question that has left several wondering.
In the lawsuit, the father-of-two claimed that News Group Newspapers (NGN) unlawfully obtained information about him between 1996 and 2011, which the organisation recently admitted, leading the Duke of Sussex win the case.
After losing the lawsuit, NGN paid Harry a payout of $12 billion, however, the husband of Meghan Markle will lose a “big chunk” of money from it.
In a latest article, Radaronline reported that most of the money from Harry’s payout is set to go to his lawyers and other court fees.
The Duke will only get the amount left after paying off the fees, however, as he is a US resident, Prince Harry will also have to pay Donald Trump and the American IRS taxes on the legal win.
"As a U.S. resident Harry has to pay tax on his worldwide income unless it's been taxed in Britain. So the royal would be able to avoid paying Uncle Sam as long as he has to pay his home country first,” told an insider to the Daily Mail.
They added, “But...here's the sting in the tail. Legal damages are not taxed in the UK."
Moreover, Prince Harry might soon face US visa setback as The Heritage Foundation has urged Donald Trump to release the Duke’s immigration files.
