Since they announced their shocking departure from the British Royal family at the beginning of 2020, Prince Harry and Meghan Markle have been making headlines as individuals pursuing their own business and charitable interests.
As working royals, Harry and Meghan earned the majority of their income as part of endowments related to their family. Now that they have renounced those roles, the financial stability of their family going forward is wholly falling on their shoulders alone. So, how exactly do Harry and Meghan make money nowadays? Here's what we know of their personal financial situation.
How do Harry and Meghan make money? Their endorsement deals are massive.
In the wake of severing ties with the royal family, and effectively their seemingly endless riches, Harry and Meghan were forced to pursue other means of income. Fortunately for the duo, their international fame coupled with a newfound lack of regulations thanks to their independent status allowed them to accept massive deals with the likes of media giants such as Netflix and Spotify.
According to BBC, Harry and Meghan signed the deal with the music streaming service to produce original content under the label Archwell Audio for the platform. Although the exact amount of money agreed upon for the deal was never disclosed, based on other similar contracts a solid assumption can be made that they received at least $40 million in the deal.
The couple also signed a massive deal with video streaming giant Netflix to produce original content for their service as well. According to The New York Times, the pair received upwards of $100 million for this agreement, a number only ever also achieved by Barack and Michelle Obama in their deal with the same company.
Harry had some serious inheritance coming his way long before this decision was made.
Previous to their renouncement, Harry and Meghan's existence was funded through the likes of The Sovereign Grant and The Duchy of Cornwall, per official records. The Sovereign Grant paid for the day-to-day royal expenses while The Duchy of Cornwall covered other expenses and salaried amounts.
Prince Harry's independent net worth, according to CelebrityNetWorth, is somewhere around $50 million, a sum accrued through various means such as funds left in a trust for him by his late mother, Princess Diana, an inheritance from the Queen Mother (that reportedly includes her famed jewels), as well as salary he received as a captain in the British Army, where he earned around $50,000 a year.
Meghan, on the other hand, according to Business Insider, has a net worth hovering around $5 million, which she accrued through various acting gigs and endorsement deals prior to becoming a royal family member, and then more so again after renouncing her role.