The recent years have been financially tumultuous for Prince Harry and Meghan Markle following their high-profile departure from the Royal Family. The couple, once financially secure within the royal fold, are reportedly struggling to maintain their desired lifestyle.
In 2020, Prince Harry received his final allowance of $5.6 million from his father, King Charles, before being cut off financially. This marked a significant turning point for Harry, as he expressed in his memoir 'Spare,' where he detailed the burden of covering all expenses, including security for his family, for the first time. The multi-million-dollar contracts with Spotify and Netflix provided a temporary safety net, but now, sources suggest they are "back to scrambling to figure out how to pay the bills."
The source pointed out the stark contrast in the financial fortunes of the two brothers. Prince William, now in control of the $1.3 billion Duchy of Cornwall, enjoys an annual salary estimated at $30 million, effectively making him a billionaire. In contrast, Harry is "fearful of going broke," which adds to the tension between the siblings.
It's understood that both brothers were left approximately $12.4 million each from their mother, Princess Diana's estate, and were also beneficiaries of the queen mother's will. However, there's speculation that William may have received a more significant portion of the inheritance. Additionally, William reportedly received a substantial sum from British newspapers in 2020 as part of a settlement, which Harry referenced in recent court documents related to his phone-hacking lawsuit.
The Sussexes' financial predicament was exacerbated by their departure from the Royal Family in 2020. The couple's lavish lifestyle, including their $14 million mansion in Montecito, California, and a substantial annual security bill, has put a strain on their finances. Their high-profile deals with Netflix and Spotify, reportedly worth around $140 million, were expected to bring financial stability, but recent developments, including parting ways with Spotify and rumored dissatisfaction from Netflix, have brought new challenges.
Prince Harry, in particular, is said to feel a sense of injustice, having devoted a significant part of his life to royal duties, only to find himself in a precarious financial situation. This feeling of inequity, especially in comparison to his brother's vast wealth, is a source of ongoing tension and resentment.
The couple's financial woes highlight the challenges they face in establishing a self-sustaining life outside the Royal Family. With the loss of royal privileges and financial support, they are left to navigate the high costs of their chosen lifestyle and security needs, all while seeking new revenue streams and grappling with public scrutiny.
This unfolding saga reveals the complex interplay of wealth, family dynamics, and public duty, presenting a modern-day royal dilemma where personal decisions have far-reaching financial consequences.
