After Prince Harry and Meghan Markle shocked the world by stepping down as “senior” members of the British royal family in early 2020, the two embarked on an unprecedented journey for royals that led them to California.
Prior to their departure from Great Britain, 95% of their expenditures were paid for by the Duchy of Cornwall portfolio belonging to Prince Charles, Harry’s father. The other 5% was financed by the taxpayer-funded Sovereign Grant, according to their website.
When Harry and Meghan announced they were stepping down from their duties as senior royals, they said they wanted to achieve financial independence from Prince Harry’s family.
Also known as the Duke and Duchess of Sussex, Harry and Meghan clearly found a way to maintain their lifestyle. In June 2020, they purchased a $14.7 million Montecito, California, estate for themselves and their children: Archie, born May 6, 2019, in London, and Lilibet Diana, born June 4, 2021, in Santa Barbara, California.
They are also responsible for their own personal security, which Forbes estimated could cost as much as $3 million annually.
Harry and Meghan Net Worth
In the immediate aftermath of their move from Great Britain, the couple relied on the $13 million trusts Prince Harry inherited from the estate of his mother, Princess Diana, who died in a 1997 car crash. Harry received the bulk of the money after his 30th birthday in September 2014.
In addition, Markle contributed $2 million from her work in TV and films, Forbes reported. She played Rachel Zane on 108 episodes of the television series “Suits,” leaving the cast in 2018 before her marriage to Harry.
“I’ve got what my mum left me, and without that, we would not have been able to do this,” Harry told Oprah Winfrey in a March 2021 interview.
The current net worth of the Sussexes is not exactly known, but it continues to grow as they sign lucrative contracts in the entertainment industry.
In September 2020, the Duke and Duchess signed a multiyear, $100 million contract with Netflix to produce documentaries, docuseries, feature films, scripted shows, and children’s programming.
“Our lives, both independent of each other and as a couple, have allowed us to understand the power of the human spirit: of courage, resilience, and the need for connection,” the couple said in a statement. “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.”
In April 2021, Harry and Meghan announced the first Netflix project from their production house, Archewell Productions. Titled “Heart of Invictus,” the multi-episode series will look at the training of Invictus Games competitors as they prepare for the athletic competition in 2022.
The Invictus Game Foundation started in 2014 with Prince Harry as the “founding patron,” gives people who have experience “life-changing injuries or illnesses” because of their military service a chance to take part in the Olympics-style competition. A release date hasn’t been set.
In December 2020, Prince Harry and his wife expanded their media brand by announcing a partnership with Spotify. The couple plan to produce podcasts through their Archewell Audio arm that both uplift and entertain.
While contract terms were not announced, the deal could be worth as much as $35 million, one industry expert told Newsweek.
The couple’s first podcast aired at the end of 2020. It reflected on the tumultuous year and offered hope for 2021.
On June 8, Meghan Markle’s book, “The Bench,” was released and quickly hit No. 1 on the New York Times bestseller list in the children’s picture book category.
The book was born from a Father’s Day poem she wrote for Prince Harry and “captures moments of love and shared experiences between a diverse group of fathers and sons,” according to a post on the couple’s website.
“While this poem began as a love letter to my husband and son, I’m encouraged to see that its universal themes of love, representation, and inclusivity are resonating with communities everywhere,” she said.
The U.K.-based publication The Sun speculated Markle could have received an advance of nearly $700,000 for the book.