Prince Harry and Meghan Markle ended their collaboration with the palace as working members of the royal family in January 2020. The Duke and Duchess had no financial security or source of income when they moved to California. However, over the years, there have been no changes in the couple’s extravagant lifestyle. They raise their children Archie and Lilibet in luxury.
Shortly after moving to the United States, Harry and Meghan attracted attention by buying a large mansion in Montecito. The chic cottage cost the couple a staggering $14 million, and now they plan to move to Hope Ranch in a private estate that could cost more than $22 million. Where do members of the Sussex royal family mint money from to fund their lavish lifestyle?
Deals and endorsements of Prince Harry and Meghan Markle
Just a few months after moving to California, Harry and Meghan began collaborating with streaming platforms and brands to make money. The couple founded Archewell Productions to build a career in the media industry. One of the Sussex’s main sources of income is their $100 million deal with Netflix.
Harry and Meghan have signed a multimillion-dollar contract with the American streaming giant for the production of content in the form of documentary series, fiction and children’s programs. The couple can earn up to $150 million on Netflix, taking into account other incentives and bonuses. Meanwhile, they will also receive a hefty $18 million for a three-year contract with Spotify.
Meghan Markle has also started creating content for the music streaming service with her podcast Archetypes. In addition, Prince Harry’s memoirs are another major source of income for the California royal family. The royal sold the rights to her complete book to Penguin Random House and minted about $20 million.
Prince Harry will take up corporate work
Last June, Megan released her children’s book, The Bench. The Duchess was paid a whopping $700,000 for the script. The former actress also invested in the startup Clevr Blends. Although the amount of investment is unknown, graduates of “Force Majeure” expect a multimillion-dollar profit, as quoted by The Scottish Sun.
What’s more, Prince Harry has started his first corporate job as director of impact at a mental health app in San Francisco. At the new enterprise, the company is likely to earn a seven-digit figure. With all this, there is no doubt that Harry and Meghan have planned their future correctly. It seems that the couple will not run out of money in the near future.
What do you think about the Duke and Duchess’ financial planning?