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As you might expect, Prince Harry’s net worth took a hit after the couple broke from the royal family. But he’s on his way back after signing various media deals. Let’s rewind!
After Archie was born, Harry’s financials told a different story. According to Money, “When Meghan Markle married into the royal family last year, her net worth was about $5 million. Prince Harry’s net worth, on the other hand, is thought to hover somewhere in between $25 million and $40 million.”
Most of Prince Harry’s net worth came from the estate of his father, Prince Charles, who supported both his sons. According to Forbes magazine, “Up until last year, Harry’s father, the Prince of Wales, covered the majority of the expenses associated with their royal duties, including staff and travel, through the Duchy of Cornwall, which Forbes estimates amounted to about $800,000 a year.” Adding to Harry’s net worth was $50,000 a year earned during his time as a British Army Captain.
Harry revealed in the famous Oprah interview that they were financially cut off from the royal family after deciding to leave. During their first year in Los Angeles, the couple and baby Archie were able to survive off the $10 million that the prince inherited from his late mother’s estate. It was this money that paid for personal security for the family (besides seriously enhancing Prince Harry’s net worth).
According to their official website, the couple chose to step away from the royal family’s money mainly because they didn’t want to deal with the Sovereign Grant. This grant is a yearly funding mechanism where a portion of public funds help to fund the royal family’s work expenses along with handling the appearances of the royal estates. The BBC reports that the grant is “worth a total of £85.9m this financial year and is funded by profits from the Crown Estate” (namely, commercial properties owned by the Crown). Readers can learn more about it here.
“The Duke and Duchess of Sussex take great pride in their work and are committed to continuing their charitable endeavors as well as establishing new ones. In addition, they value the ability to earn a professional income, which in the current structure they are prohibited from doing. For this reason they have made the choice to become members of the Royal Family with financial independence. Their Royal Highnesses feel this new approach will enable them to continue to carry out their duties for Her Majesty The Queen, while having the future financial autonomy to work externally,” the website reads.
Because the couple is separate from the royal family they are allowed to work and make money independently. They have established some charity organizations such as Archwell, which is a non-profit organization that has a production agency that produces video programs addressing mental health. This has added to Prince Harry’s and Meghan Markle’s net worth.
Recently, the couple have been discussing speaking contracts with Harry Walker Agency along with making deals with Netflix and Spotify. Elle magazine reports that their contract with Netflix is worth about $100,000. Harry Walker Agency also works with the Obamas and, if the prince signs on, he could be making about $1 million per speech, seriously adding to Prince Harry’s net worth. According to Harper’s Bazaar, he hopes to talk about topics such as mental health and grief.
The prince is also collaborating with Oprah Winfrey and AppleTV+ on a mental health mini documentary series. So while Prince Harry’s net worth took a momentary tumble, it ultimately won’t be in jeopardy due to a wealth of future opportunities.