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.

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This afternoon, The Duke and Duchess of Sussex attended the annual Commonwealth Service at Westminster Abbey on Commonwealth Day, alongside Her Majesty The Queen and Members of The Royal Family. The Commonwealth is a global network of 54 countries, working in collaboration towards shared economic, environmental, social and democratic goals, and the Service today seeks to highlight the vast community which spans every geographical region, religion and culture, embracing diversity amongst its population of 2.4 billion people, of which 60 percent are under 30 years old. As President and Vice-President of the @Queens_Commonwealth_Trust, The Duke and Duchess of Sussex have been passionate advocates of the Commonwealth having spent many years working closely with the next generation of Commonwealth leaders. The theme of the Commonwealth for 2020 is ‘Delivering A Common Future: Connecting, Innovating, Transforming', placing emphasis on youth, the environment, trade, governance, and ICT (Information and Communications Technology) and innovation. From working to protect the earth's natural resources and preserving the planet for generations to come, to championing fair trade and empowering the youth of today to transform the communities of tomorrow, the Service celebrates the Commonwealth's continued commitment to delivering a peaceful, prosperous and more sustainable future for all. Photo © PA

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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.