After stepping back from their roles as senior members of the British royal family, Prince Harry and Meghan Markle, the Duke and Duchess of Sussex, embarked on a new chapter that would see them shift from public service to independent financial ventures. Their departure, dubbed “Megxit,” marked the beginning of a dramatic transformation in how they would earn a living, no longer relying on royal funds but instead seeking personal, entrepreneurial avenues. The couple’s financial path since leaving the monarchy has raised eyebrows, and many are curious about how they are funding their lifestyle now that they are no longer financially supported by the Crown.
Before their exit, the vast majority of Harry and Meghan’s income came from the British royal family, particularly from the private income of Harry’s father, Prince Charles. The Duchy of Cornwall, a portfolio of land, estates, and property managed by the Prince of Wales, was the main source of funding for Harry and Meghan. During the period of 2018-2019, it was reported that the couple received over £5 million (approximately $7 million USD) from this income. This sum covered both their official royal duties and personal expenses. This financial arrangement was part of their position within the royal family and allowed them to fulfill their responsibilities while maintaining a comfortable lifestyle. However, the couple’s relationship with the monarchy was complex, and as their desire for independence grew, they made the bold decision to step away, looking to fund their future on their terms.
While the couple had been receiving financial backing from Prince Charles’s estate, they were also beneficiaries of the Sovereign Grant, a public funding scheme allocated by the British government. The Sovereign Grant finances the official duties of the monarchy and includes money to maintain royal residences, fund travel, and pay staff. For the fiscal year 2021, the Sovereign Grant stood at £85.9 million (almost $119.6 million USD), a portion of which was used to fund the royal family’s official obligations. The Duke and Duchess of Sussex received a modest slice of this sum, accounting for about 5% of their total income. Though this source of funding was relatively small in comparison to the Duchy of Cornwall, it was still integral to their financial structure. However, following their decision to step back from royal duties, they no longer receive this grant.
In an effort to fully sever financial ties with the monarchy, the Duke and Duchess also repaid taxpayers for the cost of renovating their Frogmore Cottage residence at Windsor Castle. Initially, the renovation costs—amounting to £2.4 million (around $3.3 million USD)—had been covered by public funds, with the aim of transforming the cottage into a private family home for Harry, Meghan, and their son, Archie. However, in 2020, the couple made a public commitment to repay the British taxpayer for the renovation costs, fulfilling this promise before they relocated to North America. This move was part of their broader strategy to maintain independence from the British royal family, asserting that they would no longer benefit from royal funds.
Following their departure from royal duties, Harry and Meghan have tapped into a variety of financial opportunities that capitalize on their global platform. The couple signed lucrative deals with major companies, including Netflix and Spotify, which are expected to be key drivers of their income. Through these partnerships, they are developing content that aligns with their personal values, including documentaries, podcasts, and children’s programming. Their deal with Netflix, reported to be worth $100 million, is focused on creating high-quality, compelling content that emphasizes social justice, mental health, and environmental issues—topics that Harry and Meghan are both passionate about. Similarly, their Spotify deal, worth $25 million, includes the production of podcasts and other audio content, giving them the freedom to share their views and ideas with a vast audience.
In addition to their streaming deals, the couple has also been involved in public speaking engagements, which provide another source of income. By leveraging their royal connections and media presence, Harry and Meghan have been able to secure significant speaking fees at events and conferences around the world. Their public speaking engagements focus on issues such as climate change, women’s empowerment, and social justice—causes they have championed throughout their time in the spotlight. These speaking engagements not only bring in substantial earnings but also allow the couple to continue promoting their personal mission of creating positive change in the world.
Furthermore, Harry and Meghan have invested in businesses and philanthropic ventures. The couple co-founded Archewell, an organization focused on supporting a variety of charitable initiatives, including community building, racial justice, and mental health advocacy. Archewell is a platform through which they can channel their influence and use their financial resources to support causes that are important to them. Their business ventures, alongside their philanthropic efforts, have positioned them as entrepreneurs and activists rather than just former royals.
Harry and Meghan’s financial journey since stepping away from royal life has been a tale of adaptation and self-reliance. From receiving royal allowances to building their own financial empire, the couple has faced both challenges and opportunities. Their transition is emblematic of a new chapter in their lives—one that is focused on their personal growth, public influence, and commitment to making a difference in the world. It remains to be seen how these ventures will continue to unfold, but it is clear that Harry and Meghan are carving out a new identity, one that is free from the constraints of royal duties and supported by their own entrepreneurial efforts. Their story serves as a reminder that, in an era where personal branding and social impact are at the forefront, even those with royal backgrounds can redefine their financial futures and leave a lasting mark on the world.
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