When Prince Harry and Meghan renounced their royal duties in 2020, the Duke and Duchess of Sussex were immediately confronted with the pressing issue of how to make a living.
Last year, Forbes estimated their net worth to be $10 million, which includes the remainder of Prince Harry’s inheritance from his mother, Princess Diana, plus the equity in their California home. They were also shut off from the estimated $34 billion estate of the British Crown.
Ironically, the response was to capitalize on the public’s obsession with the gorgeous pair who dared to escape the royal family’s golden prison, as well as the constant media scrutiny their official duties entailed. And despite the mixed critical response to their new Netflix documentary series “Harry & Meghan,” it is undeniable that the endeavor has significantly increased their wealth.
Here is what is known about the sources of wealth and income of the pioneering royals.
Prince Harry told Oprah this year that the couple relied completely on his fortune from Princess Diana, who died in a car accident in 1997, when they moved to California in 2020.
Without my mother’s inheritance, we would not be able to achieve this, Harry explained to Oprah.
According to the Independent, Diana left her two sons an estate of roughly 13 million pounds, which increased to 20 million pounds by the time they were 30 and could legally access it. This indicates that Harry’s portion was approximately 10 million pounds, or $12,2 million at the current currency rate.
This sum was decreased in part by the $3 million the couple repaid to finance improvements to their U.K. home. Initially, British taxpayers covered the expenditures associated with housing.
According to TMZ, Harry and Meghan have approximately $5 million in equity on their property in Montecito, California, which has a mortgage of roughly $10 million. However, they are apparently planning to move.
Prior to their marriage, Meghan, then known as Meghan Markle, was an actor and maintained a lifestyle blog. She was paid $50,000 each episode for her performances in the USA Network drama series “Suits.”
According to the Independent, she had a net worth of approximately $5 million when she entered the marriage.
Harry and Meghan founded Archewell Productions, an offshoot of their nonprofit organization, with the stated goal of creating “programming that informs, elevates, and inspires.” According to Deadline and Us Weekly, the company signed a multiyear production deal with Netflix valued between $100 million and $150 million.
This week saw the release of the first three episodes of their debut documentary series, an intimate look into their personal life.
According to Town & Country, under the multiyear agreement with Netflix, the couple will produce documentaries, scripted shows, feature films, and children’s programming, but no reality shows. CNN reported last year that a series is in development that follows participants in the Invictus Games, a nonprofit founded by Harry that provides athletic tournaments for disabled military veterans.
However, Meghan’s planned animated series with the working title “Pearl” was one of several programs canceled by the streaming service this year due to budget cuts.
In a new Netflix documentary, Harry and Meghan reveal life in the British royal family at 4:20.
A memoir bound in Penguin
Next month, Penguin Random House will publish “Spare,” Harry’s book, which the Associated Press has described as “an object of compulsive anticipation.” According to the publisher, the book will provide “raw, unflinching honesty” in addition to “insight, revelation, self-examination, and hard-won wisdom on the enduring power of love over loss.”
Page Six stated that Harry earned a $20 million advance when he sold the book last year. According to Vanity Fair, the contract may include up to three further novels from the couple. According to the BBC, the publisher has also committed to make two charitable contributions totaling $1.6 million as part of the settlement.
Meghan also published a children’s book, The Bench, in 2017. A branding expert told the Daily Mail that the advance might be as much as $600,000, however it is unknown how much she was paid for the work.
Under a three-year agreement, Meghan and Harry produce podcasts for the streaming service Spotify via Archewell Audio. Meghan’s debut podcast for the brand, “Archetypes,” featured Judd Apatow, Amanda Gorman, Mindy Kaling, Issa Rae, and Serena Williams, among others. This week, the podcasting series won the People’s Choice Award.
Forbes and the New York Post have estimated the contract to be valued between $15 million and $25 million, a sharp contrast to what the majority of creators on the site make, which is typically a fraction of a penny per stream.
Additionally, the couple has numerous additional creative enterprises whose monetary value is unclear. Prior to leaving the royal family, Harry signed a contract with Oprah to executive produce a mental health-themed Apple TV series. The Clintons, the Obamas, and Oprah are among the A-listers represented by the speaking agency Harry Walker, which Harry and Meghan have joined.
Certainly, the young couple and their two children have significant expenses, not the least of which are security services. Given this reality and the unclear value of certain recent mega-deals, estimates for their net worth vary greatly, ranging from $10 million to $60 million, according to Forbes, Hello, and Women’s Health Magazine, respectively.
However, given the emergence of a media empire, it is likely that number will increase dramatically in the future years.