The Duke and Duchess of Sussex, Prince Harry and Meghan Markle, have become two of the most well-known names in the world. In 2020, the royal love birds "officially" stepped down from the royal family. Interestingly, however, this decision only increased their popularity.
But where exactly do they get their money from? Let's take a closer look at how they make their living.
Prince Harry is sixth in line to the British throne. This means that he stands to inherit a substantial amount of money upon his father’s passing. As a member of the royal family, he also receives an annual allowance from Prince Charles
This allowance covers travel costs, staffing expenses, and other necessities for him and his wife Meghan. This figure is estimated to be around $6.2 million per year.
Investment & Endorsements
When she tied the knot with Prince Harry, Meghan Markle announced her departure from the world of acting. However, before that, she had made a considerable fortune through various television and movie roles. Much of this wealth was invested in properties in Los Angeles and Toronto. Since then, they have very likely increased in value.
The couple has also reportedly been offered high-profile endorsement deals, including $2 million for Harry to join Instagram. It is believed they may accept such offers if it aligns with their charitable mission.
The Royal Couple Left the Royal Family Back in 2020
When Prince Harry and Meghan Markle made the unprecedented decision to step down from their roles as senior members of the British Royal Family, their transition was aptly dubbed “Megxit” by the media.
The couple made moves to distance themselves from the royal family, including closing their joint office in Buckingham Palace. They relocated to Los Angeles and severed all formal ties with several of their patronages and charities within the UK.
The announcement sparked a flurry of speculation regarding their plans for financial independence. In addition to investments they had made prior to stepping back from royal duty, it was reported that they had signed various endorsement deals with Netflix and Spotify worth millions of dollars.
Though there has been much debate over the perceived consequences of their decision, it is clear that Prince Harry and Meghan Markle have taken steps towards gaining greater financial autonomy outside of the royal family.
Prince Harry and Meghan Markle have established several charities and initiatives, such as the Sussex Royal Foundation, which works with various causes, including mental health awareness, youth unemployment, and sustainable living.
The couple also receives donations from public figures and companies to support their charitable efforts.
Prince Harry and Meghan Markle are financially well-off thanks to a combination of inheritance, investments, endorsements, royalties, and philanthropic endeavors. They are expected to generate more income in the future through various additional sources.
Nevertheless, they remain focused on using this wealth for good causes that will positively impact the world.