Meghan Markle and Prince Harry Could Become Billionaires After Leaving Royal Family
Prince Harry and Meghan, the Duchess of Sussex have decided to resign from their royal lives. The announcement came after months of speculation from followers of the royal family that they would make such a decision, but it has still been met with shock and surprise from many.
The 2019 calendar year was filled with scrutiny for the Sussexes, from everyone from the media to family members. Both Prince Harry and Meghan have spoken publicly about the way the media has been portraying them and their unhappiness among the royal family.
Their decision to leave has left many wondering how they will continue to live their lavish lives without being senior members of the royal family. The truth is, Prince Harry and Meghan could become significantly richer once they cut off their royal ties.
The Sussexes’ announcement’s claims
The announcement from the Duke and Duchess of Sussex was posted to their Instagram account. In it, they stated that their plan was to step back as “senior members” of the royal family but to continue supporting Her Majesty the Queen.
They also said that they planned to split their time evenly between the U.K. and North America, giving Baby Archie the chance to grow up respecting his royal roots while also living a more “normal” life as a child, something that Prince Harry never got a chance to do. Current reports suggest they’ll settle down in Canada to set up their North America base.
While that all makes sense, some of the claims made in their announcement have people scratching their heads. They state that they have plans to start a new “charitable entity,” but by stepping back from the royal family, they will be giving up their portion of the money they typically receive from the Queen meant to go toward their charity work.
Another point that is confusing to some is that they plan to “work to become financially independent.” What exactly does that mean for the Sussexes?
Prince Harry and Meghan Markle are doing fine financially on their own
Before joining the royal family, Meghan Markle was a pretty well-known actress, thanks to her role in USA’s TV show Suits, in which she starred in 100 episodes. By the time she ended her role on the show, Markle was earning approximately $50,000 per episode, adding up to about $450,000 per year. On that alone, she would easily be considered “financially independent” all on her own.
Prince Harry, on the other hand, has never had a conventional job outside of his service in the military, but he has his own savings to back him up. After his mother, Princess Diana, passed away, her sons were left a trust fund, which Prince Harry had full access to at the age of 30. This trust fund was approximately worth $450,000. He also received some money when his great-grandmother, the Queen Mother, passed away.
The Duke and Duchess of Sussex could earn even more by stepping back
By stepping down as senior members of the royal family, Markle and Prince Harry would be able to take advantage of things they were never allowed to before. For one, Meghan could go back to acting, something she was forbidden to do as a senior member. While many think that’s unlikely, it’s something she could definitely do now if she wanted to.
The couple could earn money by giving speeches, something that they did all the time as senior members, but were never paid for doing. They could take on sponsorships, participate in ads, or even open up a winery or something of the sort. They have the freedom to earn money in many ways, now that they’ve stepped back from the royal family, so the Sussexes have plenty of opportunities to remain financially independent.
Simply put, their earning potential could be far greater as non-royals than it is as being affiliated with the royal family. A handful of Hollywood entrepreneurs are on the path to becoming billionaires: Kylie Jenner attained the status through Kylie Cosmetics, Kim Kardashian is close with her shapewear line SKIMS, and Rihanna’s Fenty brand is attaining unprecedented success.
Meghan could easily strive to do the same as a non-royal. She already has experience with a lifestyle website — similar to Gwyneth Paltrow’s Goop origins or Kourtney Kardashian’s POOSH — called The Tig. The Duchess of Sussex folded her website before becoming a royal.
“Much like Gwyneth Paltrow’s Goop, and as Markle previously did with TIG, their personal brand could be worth billions and they know it.”
It has been clear Meghan and Prince Harry have been building their brand much before their announcement. Back in 2019, they trademarked their Instagram handle. They also separated households from Prince William and Kate, the Duchess of Cambridge.
London-based writer Ashley Pearson told MarketWatch: “One of the reasons they broke off from the royals is, in part, because they want to build their own brand.”