When talking about royalty, money problems might not be a subject that is brought up often. After all, royals live in palaces and mansions. Many also have staff members taking care of their households’ needs and desires.
However, after Prince Harry and Meghan, Duchess of Sussex decided to step down from their senior roles in early 2020, there have been some questions about their financial status. While many people believe they still would not be poor by any means, some fans now think the Sussexes could run into financial problems in the future.
Prince Harry and Meghan Markle said they planned to become ‘financially independent’
In January 2020, Harry and Meghan announced their plan to step down from being senior members of the royal family. In their official statement, the couple also noted they would “work to become financially independent.”
Many folks took this to mean they would no longer be receiving money from the tax-funded Sovereign Grant, which pays for royals’ work expenses, including security and travel. However, Harry and Meghan did not specify exactly how they plan to achieve “financial independent.”
Harry and Meghan are reportedly being funded by Prince Charles’ estate
After Harry and Meghan settled down in Canada temporarily, it was reported that the couple was getting a lot of money from Prince Charles’ Duchy of Cornwall estate. According to the Daily Mail, Charles could be contributing a large sum to the Sussexes’ security bill.
“Charles has agreed to pay a ‘private contribution’ to the Sussexes,” a source told the Daily Mail. “It will not be revealed how much and what that is used for, but it is believed to be around £2 million [$2.5 million]. It would not be a surprise if it went into meeting the bill for security. However, the Prince of Wales does not have an infinite amount of money. The total income from the Duchy of Cornwall is annually around £21million [$27 million].”
Some people believe Harry has been using money inherited from his mom, the late Princess Diana, as well. Diana was worth around $31.5 million when she passed away in 1997. Her two sons each inherited $16 million after they turned 30 (for Harry, that was in 2014).
Why some fans think Harry and Meghan will run into money problems in the future
Although it does not seem like Harry and Meghan will be impoverished anytime soon, some fans think they often live above their means, which could potentially means running into money problems down the line.
For one thing, the couple has been criticized for their “extravagant spending” in the past couple of years. Meghan reportedly spent anywhere from $300,000 to $500,000 worth of new clothes in her first year as a royal (including $100,000 worth of outfits for a three-day trip to Morocco in early 2019). Meghan and Harry both also found themselves in hot water when it was revealed they had spent $3 million in taxpayers’ money to refurbish their home.
“[Harry and Meghan] seem to want a billionaire lifestyle,” one person wrote on Reddit. “They don’t have the money. Money is going to be the real sticking point over time. Many a British royal has run into trouble because they want a lifestyle beyond their means.”
Another fan added, “They have enough money to lead very comfortable lives and ‘do good.’ Some of the lower-profile members of the BRF provide an example. They could do this and even still hang with celebrities! But it really does appear that they want a 0.01% lifestyle and friends, which inevitably means hanging with some very shady people.”
Of course, these are merely speculations, and only time will tell what exactly will happen to Harry and Meghan