Between Prince Harry’s royal blood and Meghan Markle’s successful career as an actress, it’s a fair guess that these two are living large. However, after the couple stepped back as senior members of the royal family in January 2020 and relocated to the United States, common folk like us are left wondering if their bank accounts are still thick or if the Queen cut them off.
In their shocking Instagram announcement, the pair explained their desire to “work to become financially independent, while continuing to fully support Her Majesty The Queen.” The thing is, Harry and Meghan never have to work another day in their lives if they don’t want to. As they make a home for themselves in the United States, they are focusing on raising their 1-year-old son, Archie — in style, of course. In July 2020, the pair purchased a $14 million estate in Santa Barbara, boasting a tiered rose garden in addition to olive and cypress trees. The home features 9 bedrooms, 16 bathrooms, a library, pool, gym, sauna, a tea house, and a children’s cottage, according to Parade. From the looks of their lavish digs, it seems like they are doing just fine financially since saying “Cheerio” to her majesty. Keep scrolling to see Meghan and Harry’s net worth since their royal split.
Meghan Markle had a nice paycheck before forgoing her acting career
Before Meghan Markle married into the royal family, she was most well-known for her role on Suits. She appeared in more than 100 episodes of the show and was reportedly paid $50,000 per episode, equally a total of $450,000 a year, according to Money. In total, the outlet revealed that her net worth was around $5 million, and that was just from her acting days.
Now that she is a royal, Meghan’s net worth is combined with that of her husband’s, Prince Harry. Just in inheritances from his mother Princess Diana and his late great-grandmother the Queen Mother, Harry is worth around $25 to $40 million, Money reported. In addition to the funds left for him, Harry earned $50,000 a year while working as a captain in the British Army. So, if his net worth is around $30 million, give or take, plus Meghan’s honest $5 million, that means the couple has a total net worth of around $35 million. Among the many benefits of being a part of the royal family, all their royal-related expenses are covered by the British government, meaning that the royals seldom swipe their own debit cards. That, however, isn’t exactly the case anymore.
Meghan and Harry don't have access to all royal luxuries since stepping back
Since Meghan Markle and Prince Harry have stepped back from their royal duties, they no longer have their expenses covered by the Brits. According to Parade, the couple is “no longer funded by the Sovereign Grant, which previously accounted for 5% of the Sussexes’ administrative and household costs.” This means Meghan and Harry are going to have to break out their dusty debit cards next time the toilet is on the fritz.
It was previously assumed that they would continue to acquire funds from the Duchy of Cornwall, which is a “vast portfolio of land and assets that provides an income for the Prince of Wales and his sons,” but the outlet reported that the arrangement has since been ceased. After departing from royal life, the pair repaid $3 million of taxpayer funds, previously spent on renovating Frogmore Cottage, the couple’s U.K. residence that sits on the Windsor estate. Additionally, Meghan and Harry can no longer use the “Sussex Royal” brand, which could have brought in some big bucks.
Meghan and Harry have big plans to bring in more income
Despite the slight hiccup in their quest to become financially independent, Meghan and Harry have a couple of other business ventures in the works. According to Parade, the couple signed a multi-year deal with Netflix. The pair are in the process of setting up their very own production company that will develop shows for the streaming service, from documentaries to children’s programs. Although the value of the deal has yet to be disclosed, a source told the outlet that their Netflix deal allowed them to pay back the $3 million used to renovate Frogmore Cottage in full.
In addition to their new production company and business dealings with Netflix, it’s likely the pair will continue to do speaking engagements — for the right price. In June 2020, both Meghan and Harry signed with the Harry Walker Agency, which also represents the likes of Barack and Michelle Obama and Bill and Hillary Clinton. The Sussexes’ fee per speech is expected to be around $1 million. Seems like they will be all right without the help of the royal family after all.
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