Does Prince Harry Get a Salary for His Royal Duties?

While the image of the royal family is one of decadence and wealth, the true net worth of the royals isn’t set in stone, and actually varies from person to person. Now that Prince Harry, the red-headed son of Princess Diana, is expecting his first child with his wife Meghan Markle, questions have arisen as to how exactly Prince Harry makes his money.

How much money does Prince Harry have?

At first glance, one might not think that Prince Harry has much time to earn a sizable income, especially considering that the vast majority of his time is spent on charitable endeavors and visits. In fact, Prince Harry makes a living from several different sources, and as it turns out, his new baby will be more than set with the bankroll that he has to his name.

Although Prince Harry is retired from the Armed Forces, he served for about ten years, as did his older brother Prince William. During his tenure as a Royal Air Force captain, Prince Harry reportedly made around $50k – $53k. It is likely that Prince Harry stashed away a good portion of his salary for a rainy day, as he didn’t exactly live paycheck to paycheck like many of the good folks in Britain.

Does Prince Harry get an allowance?

In one respect, Prince Harry is just like American teenagers everywhere – he earns an allowance in exchange for performing certain official duties. His father, Prince Charles, is in charge of paying out both of his son’s allowances, as well as the allowances for other royal family members. Members of the royal family who receive an allowance from relatives instead of from taxpayers are referred to as “working royals.”

Prince Harry also has his mother to thank for a good portion of his wealth. Reportedly, Prince Harry is worth around $40 million, and the vast majority of his wealth is due to a trust fund that was left by Princess Diana specifically for her sons. This trust fund includes many fabulous jewels, and Prince Harry’s exclusive access to the treasure might be one reason why he’s gifted his wife, Meghan Markle, with some of Princess Diana’s incredible pieces, including of course the blue gemstone ring that Markle frequently flashes. Fans love that Markle wears pieces formerly owned by Princess Diana, as it shows that her legacy continues to live on, even though she’s gone.

How does Prince Harry spend his salary?

No doubt Prince Harry is accustomed to the finer things in life, but by all accounts, he’s remarkably down to earth. Princess Diana reportedly contributed to this frugal attitude by taking her sons out to “normal” places like McDonald’s and granting both of the boys a small amount of pocket money to do with as they liked – a big change from the previous royal protocol of not carrying any cash. 

While Prince Harry and Meghan Markle will certainly want their child, due in late April or early May, to have access to the best that life has to offer, they also reportedly want to raise a level-headed, responsible citizen, who shares their views on contributing to the global community. Their new home, Frogmore Cottage, is of modest size, and while they are renovating the older home to make it more baby-friendly (including using vegan paint in the nursery) it is definitely not the picture of luxury that one might expect a royal family to live in. While Meghan Markle and her royal husband might seem to have very different upbringings, it seems as though both of them are well-grounded in reality, and understand hard work, and the value of a dollar.