Meghan Markle and Prince Harry want to be ‘financially independent’? Here’s how much money they will need to sustain their royal lifestyle
Meghan and Harry may have announced plans to cut themselves off from the royal purse – but here’s what they will need to spend on property, clothes, food, travel and wine to maintain their current lavish standard of living
So, Meghan Markle and Prince Harry are working to become “financially independent”.
In an official statement shared on their website and social media accounts, the Duke and Duchess of Sussex wrote that they intend to “step back” as “senior” members of the royal family, but will continue to support Queen Elizabeth.
Most of the British monarchy's wealth is derived from inherited lands and investments. British taxpayers also support the royal family through a “sovereign grant” issued by the treasury.
That set-up prohibits royal family members from earning professional income, according to their website. By choosing financial independence, Meghan and Harry would no longer receive money through the sovereign grant and would be able to work professionally.
Together, Meghan and Harry are worth US$30 million: Meghan's reported net worth is around US$5 million from her acting career and Harry's net worth is reportedly at least US$25 million, comprised of an inheritance from Princess Diana and an annual allowance from Prince Charles. It's unknown how much of this comes from the crown.
Here's how much money they'd need to maintain their lavish lifestyle, based largely on the millions they've spent in the past year alone.
Meghan and Harry dropped hundreds of thousands on baby-related expenses, which could be telling if they have another baby
While interviewing Dr Jane Goodall for the September 2019 issue of British Vogue, Harry remarked that when it comes to having children, he wants “two, maximum”.
Meghan's Manhattan baby shower was reportedly worth an estimated US$200,000, Vanity Fair reported. Serena Williams reportedly hosted and paid for the shower, wrote Katie Nicholl, but it stands to reason Meghan may want a similar calibre shower in the future and might intend to symbolically foot the bill herself once she and Prince Harry are “financially independent” of the rest of the royal family.
The Duchess also reportedly spent US$11,384 on acupuncture and numerology in the months leading up to baby Archie's birth, reported The Sun.