Prince Harry and Meghan: Where do they get their money?

1 year ago 48
ARTICLE AD BOX

Prince Harry and Meghan, the Duke and Duchess of SussexImage source, Netflix

Image caption,

Netflix has released a series of stills from the Harry & Meghan documentary

The first episodes of a new documentary series about the Duke and Duchess of Sussex, Prince Harry and Meghan Markle, are being released by Netflix on Thursday.

The couple no longer receives money from the Royal Family, and earns much of their income from commercial arrangements.

Why did Harry and Meghan step down?

They said they were angry about media intrusion, and frustrated that Buckingham Palace had stopped them developing their "SussexRoyal" brand.

Other Royals were said to be "hurt".

Harry remained a Prince, and the couple kept their Duke and Duchess of Sussex titles, but are no longer addressed as His/Her Royal Highness (HRH).

Image source, Getty Images

Image caption,

Prince Harry and Prince Andrew both wore civilian dress at the Queen's funeral

Harry also gave up his military titles, and therefore did not wear uniform at the funeral of the late Queen Elizabeth.

However, he and the Duke of York (another non-working Royal) were allowed to wear military dress while standing vigil around her coffin.

Prince Andrew stepped down as a working Royal in 2019, after controversy about his friendship with disgraced businessman Jeffrey Epstein.

Where do Meghan and Harry live?

The Duke and Duchess of Sussex moved to California in June 2020.

They said they wanted space to raise their family, and to concentrate on their new Archewell Foundation.

The couple returned to the UK for the late Queen's Platinum Jubilee in June 2022, and her funeral in September.

It is not clear whether they will attend King Charles' coronation.

How do Meghan and Harry earn their money?

Image source, Getty Images

Image caption,

The Duke and Duchess are working on a series of television programmes and podcasts

The Sussexes' media company, Archewell Productions, is making a range of programmes for Netflix, an arrangement thought to be worth tens of millions of dollars.

Archewell also makes podcasts for Spotify, including the Archetypes series about famous women.

Harry and Meghan did an interview with US presenter Oprah Winfrey in March 2021, but said they were not paid for it.

Harry's autobiography, Spare will be published on 10 January 2023. Under the deal, published Penguin Random House will make two donations worth $1.5m (£1.3m) and £300,000 to the charities Sentebale and WellChild.

What did Prince Harry and Meghan lose when they stepped down?

As working Royals, they received 95% of their annual income from Harry's father Charles, then Prince of Wales.

In the financial year 2018-2019 (the first year of their marriage), Charles' Duchy of Cornwall estate paid more than £5m to cover the public duties - and some private expenses - of the Sussexes, and of the Duke and Duchess of Cambridge.

The taxpayer-funded Sovereign Grant made up the other 5%.

Image source, Getty Images

Image caption,

Harry and Meghan were married in May 2018

Charles subsequently gave them "a substantial sum" to support their transition to financial independence, according to his office.

Duchy of Cornwall accounts show that the couple, along with Prince William and Kate, received £4.5m between April and June 2020.

"That funding ceased in [summer 2020]," said a spokesman.

Once they stepped back from official duties, the Duke and Duchess were no longer covered by the security arrangements in place for senior royals.

When Harry first left the UK, he said it would be too dangerous for him to bring his family back without police protection.

Image source, Carly b. talbot

Image caption,

Frogmore Cottage sits within the larger Frogmore estate

The Queen gave Harry and Meghan Frogmore Cottage in Windsor when they married in 2018.

Renovations costing £2.4m were paid for by the Crown Estate.

The couple repaid this amount when they stepped down.

What other funds do Harry and Meghan have?

William and Harry received the bulk of the £13m fortune left when their mother, Princess Diana, died in 1997.

Speaking to Oprah Winfrey, Harry said this funded their US move: "I've got what my mum left me. Without that, we wouldn't have been able to do this."

Image source, Getty Images

Image caption,

Princess Diana died in a car crash in Paris in 1997

Harry is also thought to have inherited millions of pounds from his great-grandmother, the Queen Mother.

It is not known whether the late Queen left him any money.

During her acting career, the Duchess of Sussex was reportedly paid $50,000 (£41,000) for each episode of the legal drama Suits. She played Rachel Zane in more than 100 episodes over seven series.

Ms Markle also ran a lifestyle blog, and designed items for a Canadian fashion brand.

Read Entire Article