The couple's financial landscape has witnessed significant fluctuations in the past four years since Prince Harry and Meghan Markle's high-profile departure from the Royal Family. Their decision to step back in 2020 marked the beginning of a new chapter, personally and financially, as they navigated life outside the royal sphere.
Relocating to the exclusive enclave of Montecito, California, the Duke and Duchess of Suss*x embarked on a series of lucrative commercial ventures. A notable highlight was their $100 million agreement with Netflix, through which they have released several projects, including the 2022 documentary "Live to Lead," showcasing global leaders.
Additionally, their eponymous six-part docuseries has garnered attention. August saw the release of "Heart of Invictus," a documentary by Prince Harry focusing on the Invictus Games, an event dear to his heart. Meghan Markle, known for her role in the television series "Suits," ventured into podcasting with "Archetypes," a 12-episode series under a $20 million deal with Spotify.
The show featured conversations with renowned artists, yet, in a surprising turn, Spotify terminated the contract in June this year.
Memoir and Financial Shift
Prince Harry's memoir, "Spare," released in January, added another layer to their revenue stream, delving into his personal experiences and royal life.
Further enhancing his professional portfolio, Harry joined the Californian firm BetterUp as Chief Impact Officer in March 2021. Before their royal exit, the Suss*xes' annual income as senior royals was approximately £5 million (around $6.9 million), encompassing expenses like wardrobe, travel, security, and personal costs, supported by royal funds.
However, following their decision to step down, this financial support ceased, including the taxpayer-funded security arrangements. Prince Harry has openly credited part of their financial independence to the inheritance from his mother, Princess Diana, estimated at £13 million, which he shares with his brother, Prince William.
Additionally, he received a substantial inheritance from his great-grandmother, the Queen Mother, further bolstering his financial stability as he forges a new path with his family in the United States.