One of the many shocking announcements from this year was the news that Meghan, Duchess of Sussex and Prince Harry left the royal family. They had grown tired of public life and wanted to move somewhere more private to focus on their family.
Regardless of any mixed feelings, it is likely that they will spend Christmas with the Queen over Zoom. Now that the Duke and Duchess of Sussex are financially independent of the royal family, they will have to build their own net worth. Their recent deal with major companies like Netflix will boost their wealth.
Prince Harry and Meghan Markle’s net worth
Meghan was making a name for herself as an actress before she married Harry. The Duchess had a role on the show Suits and earned roughly $50,000 for each episode. Her acting career generated a net worth of $5 million before the marriage.
The royal family is worth billions of dollars, but Prince Harry’s portion of the wealth is approximately $25 million. In 2018, some reports estimated his net worth to be about $40 million.
Most of Harry’s money comes from the inheritance he received from his mother. He also got paid for serving in the Air Force.
As a couple, Meghan and Harry’s net worth is higher. In 2020, their combined wealth is somewhere between $50 million and $75 million. Earlier this year, they bought a home in California for $14.7 million, which came with five acres of land, a tennis court, and a swimming pool.
It was most likely a difficult decision for them to leave the royal family. However, the couple appears to be settling in with their new life.
Prince Harry and Meghan Markle may have lost money
In January 2020, Prince Harry and Meghan announced that they would be leaving the royal family. They officially stepped down on March 31. The couple moved to the United States and are creating their own path in life.
However, their separation occurred at an unlucky time. Brexit had left the British pound valuing less in international exchanges. As a result, Prince Harry’s fortune is less now than a couple of years ago. Prince Harry and Meghan are currently living off their net worth.
Not to mention they had to give up public funds and return taxpayer money that they had received for home renovation. According to DW, the duke and duchess have to give back 2.4 million pounds, or $3.1 million, upon exiting the royal life.
It is possible that the pandemic also had an impact since it has been hard for many people to make money. However, they appear to be doing well for themselves. They are continuing to work hard after leaving the spotlight.
The couple will increase their net worth dramatically
Despite losing money initially, Harry and Markle are set to gain billions of dollars. According to Newsweek, the couple signed a multi-year deal with Netflix and Spotify. The Duke and Duchess will create podcasts on Spotify, and the deal will land them with $75 million for the first three years.
Their deal with Netflix could be worth up to $150 million. In this deal, Harry and Markle will produce documentaries and feature films. They hope to tell stories that build resilience and understanding for viewers. Since their names are so well-known, it will be easy for them to attract an audience.
The deals with Netflix and Spotify will increase the couple’s net worth to a whopping $10 billion. This is part of their efforts to remain financially independent of the Crown.
Professor Johnathan Shalit, founder of U.K.-based InterTalent Rights Group, told Newsweek: “My guess is they’ll be the $10 billion royal couple. I’ll tell you why, the way you become multi-billionaires is you get involved before the shares explode. Lots of startups and companies are going to want Meghan and Harry attached to their product so that in turn will create other investors and other shareholders.”
He added: “So they’re like a shop window for investors. Meghan’s going to be a door opener creating opportunities for her partners to get more money. Once you get shares and equity and startup companies explode, you can end up being worth billions if you get in at the right time.”
However, Prince Harry and Meghan’s exit agreement states that commercial deals would be subject to discussion. The work that the couple is doing with these companies would need to follow the ethical standards.