The Duke and Duchess of Sussex, Prince Harry and Meghan Markle, known for their penchant for luxury, are reportedly on a precarious financial trajectory. Despite their high-profile status and substantial wealth, insiders express concerns over their sustainability amidst their extravagant lifestyle.
This lavish spending, coupled with potentially dwindling fortunes, has led to speculation about the couple's financial future and their desperate attempts to maintain their standard of living through potentially unorthodox means.
Recently, the Sussexes reportedly indulged in an opulent escapade costing upwards of $43,000. This splurge included a private jet trip from their Montecito mansion to Las Vegas, costing between $32,000 to $42,000, for a dinner and a Katy Perry concert. Meghan's attire for the evening, a Valentino minidress and Christian Louboutin heels, added another $12,000 to the bill, not including her jewelry. Their companions for the night included celebrities like Cameron Diaz, Benji Madden, and Whitney Wolfe Herd, the founder of Bumble.
Such extravagant expenditures are not new for the couple. Royal expert Daniela Elser points out that their lifestyle, characterized by private jets, designer clothes, and glitzy events, is alarmingly lavish. This high-flying lifestyle is a stark contrast to Harry's earlier, more frugal ways. The royal insider notes that Harry, once known for his careful spending, has significantly amped up his expenditures since marrying Meghan.
This trend of lavish spending is raising eyebrows within royal circles, especially considering the couple's current standing in Hollywood and their financial deals since relocating to America in 2020. There's a growing concern that their lifestyle might not be sustainable in the long run. "They're rubbing shoulders with people way wealthier than they are and desperately trying to keep up," the insider explains.
The situation has reached a point where rumors are circulating about Meghan considering joining the cast of "The Real Housewives of Beverly Hills." This move, speculated to earn her a $20 million paycheck, might be driven more by necessity than desire, considering their current financial trajectory.
Harry's financial cushion primarily consists of a $20 million inheritance from his late mother, Princess Diana, while Meghan's income includes residuals from her role in the TV show "Suits." However, insiders suggest that these earnings are insufficient to sustain their current spending habits. Joining a reality TV show, albeit a drastic shift from their royal roots, might be an essential step to avert a financial crisis.
This development paints a picture of a couple caught between their royal past and their celebrity present, navigating the complexities of maintaining an extravagant lifestyle amid potential financial uncertainties. As they step further away from royal financial support, their choice of revenue streams and spending habits will be crucial in shaping their future.
The Globe magazine spoke to the insider.
