Prince Harry and Meghan Markle Have Reportedly Given Up $19 Million Since Leaving the Royal Family
Prince Harry and Meghan Markle have been living their lives separately from the rest of the royal family since the couple left the United Kingdom back in January 2020. Their royal duties officially ended in March of that year, and they settled down in the United States, purchasing a home in California last June.
Based on one royal experts’ calculations, Harry and Meghan either spent or forfeited as much as $19 million in their first post-royal year.
Prince Harry and Meghan Markle are worth millions without the royal family
When Meghan and Harry announced in January 2020 that they would be stepping back from their roles as senior royals, no one was terribly surprised. The couple had faced major criticism from the British media and public since tying the knot in 2018, and it was only a matter of time before they left. But how would they live?
It turns out Harry and Meghan each had a pretty substantial net worth without living off of the royal family. Meghan is a former actress, best known for her role as Rachel Zane on Suits. She was worth about $5 million before she married Harry. And Harry had money in a trust that was left to him by his late mother, Princess Diana. Reports suggest that Harry was worth about $40 million when he and Meghan left the royal family.
Prince Harry and Meghan Markle have given up $19 million
Harry and Meghan temporarily moved to Canada from January 2020 to March 2020; they rented a home on Vancouver Island. Then, once the coronavirus pandemic hit, the two relocated to California, where they reportedly rented Tyler Perry’s mansion. However, they soon purchased a massive 16-bedroom home in Montecito, California.
It’s well known that Harry and Meghan secured a $9.5 million mortgage to pay for the home, which means that, over 30 years, the couple still has to pay out $5.15 million plus interest. Royal expert Daniela Elser and the New Zealand Herald report that Harry and Meghan’s mortgage runs about $475,000 per year. But the security cost is where things get pricey. The two reportedly pay more than $4.1 million each year for security, plus nearly $300,000 annually for services such as housekeeping and grounds maintenance.
Plus, Harry and Meghan agreed to pay back the money they owed taxpayers for their Frogmore Cottage renovations, which was nearly $2 million. And with that, they’re no longer earning a stipend from Prince Charles, which means they gave up about $3.15 million by leaving the family, according to The Washington Post.
The couple’s down payment on their home, plus their security and staff costs, plus the Frogmore Cottage payment, as well as sacrificing the money from Prince Charles, means that Harry and Meghan have essentially parted ways with $19 million in their first year as non-royals.
Harry and Meghan do have various business ventures on the horizon, including a Netflix deal. The two will also make plenty of money from public speaking engagements, so they likely won’t have to worry about affording their incredibly expensive American lifestyle.