Here's How Prince Harry & Meghan Markle Afford Their Luxurious Lifestyle After Cutting Off From The Royal Family
When Prince Harry and Meghan Markle abdicated their royal duties in 2020, the couple weren’t only giving up their royal titles. They were also giving up access to the British royal family’s wealth. Their everyday expenses – including travel, housing, and security – would no longer be paid for by tax payer money, since Harry and Meghan were no longer considered to be government employees.
The couple didn’t seem worried about this when they announced they were stepping down as well as moving from the U.K. to North America. Instead, they said they were ready to be financially independent.
"We intend to step back as 'senior' members of the Royal Family and work to become financially independent, while continuing to fully support Her Majesty the Queen,” a statement Harry and Meghan released at the time read.
They may be on their own financially, but Harry and Meghan’s luxurious lifestyle hasn’t seemed to suffer. Last October, for instance, it was reported the couple were looking for a bigger California mansion with a $22 million budget.
Below, we took a close look at how Prince Harry and Meghan Markle are making money since separating from the royal family.
Even though Harry no longer has many of the financial privileges of being an active royal family member, he’s still well-off thanks to his family. Both is mother, the late Princess Diana, as well as his grandmother, the late Queen Elizabeth, left him trust funds.
According to Forbes, Princess Diana ensured both of her sons had trust funds prior to her death. Harry’s is reportedly worth $10 million. He started receiving portions of the fortune when he turned 25, and he received the full amount at 30.
Queen Elizabeth reportedly left an even bigger trust fund to Harry, worth $18 million. He’s already gained access to some of the trust, and will receive the entire sum when he’s 40.
Harry and Meghan are reportedly trying to establish their careers in the entertainment industry. This would explain why they were so quick to speak to the media after leaving the royal family, like their Oprah Winfrey interview.
“Harry’s always had a creative streak [and] Meghan’s inspired him to take it to the next level,” a source told Us Weekly.
“Working in the entertainment industry isn’t something he particularly thought about doing as a royal, but since separating from the royals he now has the opportunity to explore new, exciting opportunities and can’t wait to get his upcoming projects off the ground,” they went on.
“Harry’s determined to make it in Hollywood, just as much as Meghan,” the insider added. “He’s focusing on making documentaries connected to good causes — not just on the production side of things. We’ll also be seeing him in front of the camera, more as a spokesperson than anything else.”
In recent years, the couple have signed multi-million dollar deals with big players in the entertainment industry, including Netflix and Spotify, to produce exclusive content.
Harry and Meghan founded their company Archewell Inc. in 2020, which has various business and media divisions, including Archewell Audio and Archewell Productions. Through the company, they signed a deal with Netflix valued at $100 million the same year.
“Through our work with diverse communities and their environments, to shining a light on people and causes around the world, our focus will be on creating content that informs but also gives hope,” they said in a statement.
So far, the couple has produced a documentary about their lives for Netflix, and are reportedly working on other content, including children’s programming.
Several months after the Netflix deal, they signed a similar agreement with Spotify. Reports say it’s worth around $30 million. It’s unclear what the Spotify deal fully entails, but Meghan launched her own podcast Archetypes in 2022 on the streaming platform.
Sometimes, Harry and Meghan get paid just for showing up somewhere. Like many celebrities, they charge a fee for being “public relations experts,” The Mirror explains. The public estimates that the Harry and Meghan could charge anywhere between $480,000 to $900,000 for these sorts of appearances, which can include interviews and guest speaking opportunities.
One of Prince Harry’s most recent ventures was the launch of his memoir Spare, where he talks about growing up in the public eye. He reportedly made between $35 to $40 million from the deal. The book was first announced in July 2021, and it hit bookstores in January.
Harry and Meghan have a reported combined net worth of $60 million, and they certainly don’t seem to be hurting for cash. If the reports about their many projects and trust funds are true, then the couple stand to increase their wealth. If one thing is clear, they seem to be doing okay financially even without the royal family.
Sources: Forbes, BBC, August Man, ET, The Mirror, Yahoo, Parade, Us Weekly,
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