Despite no longer receiving funds from Kensington Palace following their self-led removal from the royal family, Prince Harry is set to receive a significant 40th birthday present. Queen Elizabeth the Queen Mother had placed a hefty $90 million into a trust fund for her family, specifying that Prince Harry would have access to his $8.5 million share on his 40th birthday.
Prince Harry's semi-estranged brother, Prince William, received a ceremonial bell concert at Westminster Abbey for his 40th birthday. While the trust fund allocates a set amount to both brothers, Prince Harry is slated to receive slightly more than half. This isn't a slight against the Prince of Wales, as William directly benefits from the Duchy of Cornwall, a tax-exempt private estate that funds the private, public, and charitable activities of the king's heir.
Financial Independence from the Crown
Prince Harry and Meghan Markle, the Duchess of Sussex, currently reside in Montecito, California, with an estimated net worth of around $60 million, which will be bolstered by Harry's upcoming birthday gift. After leaving the royal family, Harry and Meghan declared themselves financially independent from the crown, no longer receiving funds from the Duchy of Cornwall or the Sovereign Grant. The Sussexes also have to pay roughly $22,000 per month to the crown to repay taxpayer costs used to renovate Frogmore Cottage, their former estate that they left behind in favour of their $14 million California home.
Ventures Beyond Royal Duties
Since stepping away from their royal duties, Harry and Meghan have had to find ways to generate income, often through sharing their stories about life within the royal family. The couple sat down for an interview with Oprah Winfrey, released a six-part Netflix series, and Harry published a revealing memoir titled "Spare," which landed on bestseller lists.
Harry is reportedly considering writing a follow-up book, and Meghan is launching a lifestyle brand called American Riviera Orchard. This brand, said to rival Gwyneth Paltrow's Goop, will sell household items, including linens, cookware, garden tools, food and beverages, and a skin and body care line. Although currently waitlist-only, the brand is predicted to generate a massive seven-figure sum within its first year.
However, the couple's ventures have not always been smooth. British socialite Lady Colin Campbell shared insights into their financial struggles in an interview with GB News. "She (Meghan) has a billionaire lifestyle without the money," Campbell said. "They're quickly running into serious problems financially. Every deal collapses, and all these phantasmagoric figures that they were bandying about will never reach their bank account."
Campbell likely referred to the Sussexes' Spotify deal that fell through in 2023. They were supposed to launch a podcast series through their company, Archwell, but parted ways with Spotify in June 2023 with little explanation. Campbell also claimed that Meghan has shown bitterness over Princess Catherine's successes and had expected to benefit more financially from her royal connections, leading to a "billionaire lifestyle without the money".
Harry and Meghan are among the least wealthy in their elite circle of friends, which includes billionaires like George and Amal Clooney, who have a net worth of $560 million, Tyler Perry, who is worth over $1 billion, and Oprah Winfrey, whose net worth stands at $2.8 billion. The financial disparity likely won't be resolved by Harry's $8.5 million inheritance, but it could serve as a foundation for more high-profile projects.
