Meghan Markle and Prince Harry’s LA House Budget Means They Won’t Be Financially Independent for Awhile
When Meghan, Duchess of Sussex, and Prince Harry decided to leave the British royal family for a more independent life away from the royal fold, they had major plans. The pair looked forward to launching their new Archewell initiative and moving to Meghan’s hometown of LA where they have a vast support system.
Unfortunately the coronavirus (COVID-19) pandemic thwarted their plans. Instead, the pair have been social distancing and quarantining at Tyler Perry’s $18 million Beverly Hills mansion. However, now that restrictions are slowly lifting in LA, the Sussexes are considering their next move.
It appears that the pair have their eye on several million-dollar properties in LA for their new home, but their massive budget might put a ringer in their plans for financial independence.
Prince Charles has been providing Prince Harry and Meghan Markle with financial assistance
In addition to what many people believe is Perry’s kindness in allowing the Sussexes to stay in his Beverly Hills home free of charge, the duo is also getting assistance from a royal source. The Daily Mail is reporting that the pair are leaning on Prince Charles who has offered to assist the couple until they can get on their feet.
“Charles has agreed to pay a private contribution’ to the Sussexes,” a source explained. It is believed that the majority of this funding from the future Crowned King will go to helping the Sussexes pay for their extensive security which includes 15 armed guards who are on call 24/7.
Meghan Markle and Prince Harry’s LA house budget is in the millions
Meghan and Prince Harry might be hiding out at Perry’s LA abode, but they are looking for their own digs. TMZ is reporting that the Sussexes are looking to spend $12 to $18 million for their home in LA.
Apparently the Sussexes have several homes on their radar including a $15 million seven-bedroom Bel-Air mansion that includes a 200 bottle wine cellar and an $18 million Hollywood Hills home with five bedrooms. There is also a $16.9 million home that has an 800-gallon aquarium.
The pair also still have Frogmore Cottage in the U.K. where they hope to spend a good portion o their time, especially since it seems unlikely that Prince Harry will opt to become a U.S. citizen.
Meghan Markle and Prince Harry won’t be financially independent for awhile
Though the Sussexes have a combined net worth of $30 million, they are also paying back the citizens of the U.K. $3 million for Frogmore Cottage renovations. With all of these expenses, it seems unlikely they will be able to keep up their lifestyle, especially without money coming in.
In fact, amid the coronavirus (COVID-19) pandemic, the pair have been unable to launch their new Archewell endeavor or take on any of the projects that they moved to LA for. When their projects do eventually launch it could take some time to see any real substantial revenue. Also, with the big-budget they have for their new home, they might be depending on the royals for several years to come.