Prince Harry and Meghan Markle Could Have a ‘Very Tricky Path’ to Financial Independence After Coronavirus Outbreak, Source Claims
When Prince Harry and Meghan, Duchess of Sussex decided to step back as senior members of the royal family, their main goal was achieving “financial independence” from the crown while still supporting Her Majesty, Queen Elizabeth.
But their split from the “The Firm” occurred long before the coronavirus COVID-19 absolutely demolished the world’s financial health in a matter of weeks. While Meghan and Harry were probably feeling confident about making money before, there is a significant lack of speaking engagements currently.
Suddenly, the prospect of making money isn’t so simple for this former royal couple.
Prince Harry and Meghan Markle wanted the best of both worlds
The Duke and Duchess of Sussex essentially wanted to pick and choose which parts of the royal life they participated in. They wanted to retain the good parts, like money, power, and prestige, while rejecting their least favorite aspects, like participating in the Royal Rota and remaining politically neutral.
It became quickly apparent that this approach was never going to work — Harry and Meghan were free to leave if they wanted, but they couldn’t just create royal roles as they wished. Queen Elizabeth sent the couple words of encouragement but remained firm on her stance. They couldn’t use the word “royal” in their branding, for instance. And yes, they’d have to pay their own way.
That seemed easy enough when they first quit — Harry even lined up a high-profile speaking engagement at a JP Morgan Summit in February. But now events such as this have been canceled indefinitely, leaving Harry and Meghan stuck without an income stream.
No one knows what the financial future looks like post-coronavirus
Though it seems that way now, the coronavirus pandemic won’t last forever and life will eventually return to some kind of normal. However, financial ramification from business shutdowns that go on for weeks or months could wreak havoc on the economy. No one knows what will happen next.
A palace insider told U.K. based broadcaster Neil Sean that Prince Harry is keenly aware how much the pandemic has affected his plans. “… The worldwide health crisis has plunged the world into a financial climate unheard of before and the opportunities for companies to waste cash by booking celebrities to speak at conferences [aren’t there anymore],” said Sean. “… Now it could be a very tricky path to become financially independent.”
Prince Harry and Meghan Markle will need to wait out this crisis
Unlike so many other people, Harry and Meghan are not in any danger of losing their homes or not being able to put dinner on the table, even though they’re losing income in the coming weeks. Both have a healthy cushion of funds to fall back on if this pandemic drags on for several months. At the very least, they should be putting their multi-million dollar house hunt on hold.
The Duke and Duchess of Sussex have been using Instagram to spread messages of positivity and hope during the crisis. They encouraged fans to take care of their mental health in the days ahead. “With everything going on, it’s a lot to take in. Many of us may feel confused. Or alone, or anxious or scared…and in isolation, some of us may just feel bored, or that you don’t know what to do with yourself without your normal routine. It’s perfectly normal to be feeling any of these things,” they wrote.
“But here’s the good thing (because right now we need to hear good things, right?),” they continued. “Yes, there is isolation and physical distancing, but there doesn’t have to be loneliness.” They went on to share some resources to help fans survive social distancing.
These royals have no idea how coronavirus will affect their future. But they’re hoping to come out stronger than before.