As Prince William, Duke of Cambridge, turns 30 Thursday, the British royal will inherit his share of the more than $30 million estate of his late mother, Princess Diana.

Following her death in 1997, the Princess of Wales left an estate of nearly $20.4 million after taxes, said the British newspaper The Daily Telegraph, which estimated that with investments, the estate has grown to $31.4 million. Her will stipulated that the estate -- which includes stocks, jewelry, dresses, other personal belongings and cash from her $26.7 million divorce settlement with Prince Charles -- be equally divided between her two sons, William and Prince Harry.

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While Diana specified that the princes each would receive their inheritance at age 25, her executors -- among them Lady Sarah McCorquodale, the elder of her two sisters -- changed the terms of the will to raise the age to 30. However, since turning 25, William has been entitled to receive interest income from the estate.

He earns about $63,000 per year as a Royal Air Force officer, and can draw on an estimated $3.14 million left in trust by his great-grandmother, Queen Elizabeth the Queen Mother, who died in 2002, the Telegraph said.

William and his wife of one year, Kate Middleton, Duchess of Cambridge, live relatively simply. "Whatever the financial position might be, you will see no obvious change of lifestyle over the coming weeks or months," a royal aide told the paper.