After retiring from royal duties, Prince Harry and Meghan Markle have amassed a considerable fortune.
Four years after retiring from the royal family, the Duke and Duchess of Sussex are living high on the hog in an opulent $11 million mansion in Montecito, California, where they live with their children, Archie and Lilibet.
What is Meghan and Harry’s net worth?
Though only four months into the year, the couple is estimated to have a net worth of around $60 million, even after relinquishing their royal roles in 2020 and repaying public funds used to renovate Frogmore Cottage, their former home in Windsor.
Since moving from England to the United States, Harry and Meghan have signed several lucrative contracts.
In 2020, coinciding with the announcement of their retirement from royal life, they signed a deal with Netflix estimated to be worth around $80 million.
They also received a $17 million advance from Penguin Random House for the publication of four books, including the controversial book of Prince Harry’s memoirs titled Spare.
Revenue from Spare
Prince Harry’s memoir, Spare, was an unprecedented sales success. On its first day of release, it sold more than 1.4 million copies, including print, audio and electronic formats in the United States and Canada.
In the U.K., 400,000 copies were sold on the first day. These sales set a new record for Penguin Random House, making it the bestselling first-day nonfiction book in the company’s history.
In addition, Spare was published in 16 languages around the world, reflecting the global interest in the Duke of Sussex’s personal story and revelations.
Meghan and Harry’s other contracts
In late 2020, the Sussex couple signed a lucrative contract with Spotify, which was worth approximately $22.86 million.
The deal allowed Meghan to launch her podcast, Archetypes.
Although the couple’s company, Archewell, and Spotify released a statement celebrating their collaboration, a Spotify executive later called the couple disparaging.
Where Prince Harry’s income comes from
After stepping down from his royal duties, it was revealed that 95% of the Sussex’s annual income comes from allowances from Harry’s father, King Charles.
In addition, the taxpayer-funded Sovereign Grant was reported to account for the remaining 5% of their income.
After leaving their official roles, they reportedly received a “substantial sum” from King Charles.
Meghan Markle’s net worth
Before joining the royal family, Meghan Markle had an estimated net worth of $5 million, thanks to her career as an actress, particularly for her role as Rachel Zane in the series ‘Suits’, where it is estimated that she received $50,000 per episode.
Currently, Meghan is in the process of launching ‘American Riviera Orchard’, her own lifestyle brand, which promises to offer products and experiences with which she will sell a myriad of products.
The Duchess announced the launch of the brand on March 15 through her official Instagram profile, where she shared a story of Meghan cooking, and the account’s feed only featured the brand’s logo.
Since then, the Instagram account has accumulated more than half a million followers and they have not yet made any other publications.
In fact, Meghan’s followers also became controversial, as a study showed a large percentage of fake and boot accounts behind the large sum of followers of the Duchess.
Money “disappears”
Despite their opulent lifestyle in the United States, Harry and Meghan are aware that their money is disappearing fast, says one royal expert.
Royal expert and author Tom Quinn told the Mirror, “Harry and Megan certainly have enough money for now to carry on with their Royal lifestyle in America, but the launch of the new brand suggests that they are aware that the money is disappearing fast.”
“They live among mega-rich celebrities in Montecito, and Meghan is determined to live as they live. The idea they might have to make choices about what they can and cannot afford fills the couple with horror. This is why whatever happens to Kate and King Charles, the new brand will not be neglected.” He adds.
Despite the current challenges, Meghan intends to continue with her project.
However, experts suggest that she may opt for a more cautious strategy in response to Kate and King Charles’ health conditions.
Kate’s recent cancer diagnosis has put the Duchess of Sussex’s brand debut on the back burner.
Expectations revolve around the unveiling of a revamped strategy that will allow Meghan to connect with her audience and maximize revenue to increase her wealth.