Harry and Meghan left the Royal Family in 2020. They moved to California to start a new life. At first, they made big money from deals. But now, experts say their income is falling while their costs keep rising.
Harry and Meghan Bought a Big House With Big Bills
After moving to the U.S., Harry and Meghan bought a $14.65 million home in Montecito. They did not pay the full amount upfront. They took a $9.5 million mortgage. Reports say their monthly payments are between £37,000 and £73,000.
Security is also a big cost for Harry and Meghan. Harry has to pay for his own protection. A former royal officer said it can cost £3 million a year for basic protection. If they travel or leave home often, the cost could go up to £10 million a year. Harry usually travels with a four-car convoy. These are not small expenses.
Harry and Meghan’s Deals Are Ending
Harry and Meghan negotiated high-profile media deals to finance their lifestyle. They signed a £15 million podcast agreement with Spotify and a £100 million deal with Netflix in 2020. However, their contract with Spotify has already expired. One high-ranking official even referred to them as “grifters.” This year, their Netflix contract expires. As of yet, no new agreement has been revealed.
Harry and Meghan were paid approximately £2.3 million year prior to their departure from the Royal Family. The Duchy of Cornwall, owned by King Charles, provided this funding. Following “Megxit,” that ceased. In one interview, Harry stated, “My dad literally cut me off.”
Harry used his Princess Diana inheritance to fund their new life. He received roughly £10 million for his 30th birthday. His great-grandmother, the Queen Mother, also gave him £8 million. Prior to meeting Harry, Meghan had roughly £5 million from her lifestyle business and acting career.
Harry made more money with his book Spare. He received an advance of $20 million and earned an additional £7 million from sales. According to analysts, Harry and Meghan won’t be making any more significant deals.
Meghan Could Become the Main Earner
According to some, Meghan is now the more powerful partner. According to PR guru Nick Ede, Meghan is the primary provider. She is more accustomed to making money on her own, he claims. Before she met Harry, she put a lot of effort into her acting career. She has commercial and financial acumen.
Meghan and Lemonada Media recently inked a minor podcast agreement. According to reports, its value is only £30,000. Suits reruns are another source of income for her. That increased their income by $200,000.
According to a royal reporter, Harry and Meghan lead rather different lives on a daily basis. Meghan prepares lunch, works, looks after the children, and gets up early. The journalist enquired, “What is Harry doing?” She believes Harry isn’t helping out around the house or earning a lot of money.
Some people think Harry and Meghan will be alright despite the difficulties. They’re good at making money in America, according to a royal expert. “They have demonstrated their ability to stand on their own two feet,” she remarked.
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