Prince Harry and Meghan Markle, the Duke and Duchess of Sussex, have been making headlines since their departure from the British Royal Family in early 2020. Along with their decision to step back from royal duties, one of the most frequently asked questions about the couple has been about their finances. So, where do Prince Harry and Meghan get their money?
To begin with, it’s worth noting that Prince Harry and Meghan have significant wealth of their own. Before joining the Royal Family, Meghan had a successful career as an actress, and her net worth was estimated to be around $5 million. Prince Harry, as a member of the Royal Family, has also inherited a substantial fortune from his mother, Princess Diana, and his great-grandmother, the Queen Mother.
Apart from their personal wealth, the couple has also generated income through various means since their departure from the Royal Family. In early 2020, they announced that they would become financially independent, meaning they would no longer rely on the Sovereign Grant (which is the public funding that members of the Royal Family receive to carry out their duties). Instead, they said they would fund their own activities through various means, including their production company, Archewell Productions.
The Sussexes’ media company, Archewell Productions, makes various programmes for Netflix – an arrangement thought to be worth millions of dollars. This includes the Harry & Meghan documentary series in which the couple talked about life in the Royal Family.
Also Harry’s memoir, Spare, was officially published on 10 January. But much of the book’s content leaked in advance, including the claim he was physically attacked by his brother, Prince William. When the book was announced, the publisher promised donations of $1.5m (£1.25m) and £300,000 respectively would be made to the charities Sentebale and WellChild.
In addition, Prince Harry and Meghan have also been involved in various philanthropic ventures. They have launched the Archewell Foundation, which focuses on various causes such as gender equity, mental health, and environmental issues. They have also been vocal about social justice issues, and Meghan has been involved in various charitable organizations throughout her life.
It’s worth noting that despite their financial independence, the couple’s security costs continue to be covered by the British taxpayers. In early 2021, it was reported that the couple had repaid the $3 million spent on renovating their UK residence, Frogmore Cottage. However, the couple’s spokesperson has confirmed that Buckingham Palace has asked the couple to leave the property(Frogmore Cottage).
Overall, Prince Harry and Meghan have multiple sources of income, including their personal wealth, their production company, and their speaking engagements. They have also been involved in various philanthropic ventures, showing a dedication to giving back to their community.
