Prince Harry and Meghan Markle have been getting a lot of attention lately following their controversial trip to Australia – and now their finances are also under scrutiny!
According to reports, the Duke and Duchess of Sussex may struggle to sustain their current lifestyle in the coming years, as their high spending is said to be outpacing their income following their underwhelming, shall we say, deals with Netflix and Spotify. Keep reading for more info…
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Prince Harry's Inheritance From His Mother And Great-Grandmother Won't Last Forever
An insider claimed that the couple are "burning through" money and may only have around "five years" left of maintaining their current way of life before needing to make significant changes. Yikes!
"Five years, roughly. That's the window before their lifestyle looks a lot different," an insider told RadarOnline. Much of Prince Harry's wealth reportedly stems from inheritances left by his late mother, Princess Diana, as well as from his great-grandmother, the late Queen Mother.
He is said to have received an estimated $10M from Princess Diana which he accessed when he turned 30 in 2014. He also received an estimated $10.5M from a trust established by the Queen Mother in 1994, which he was able to access when he turned 40 in 2024.
However, reports suggest those funds are gradually dwindling thanks to costs on their home, security, lawsuits, and more, with no major long-term income streams firmly in place. And given how their current projects are performing – and the public's reception to them – it doesn’t seem likely they’ll earn enough to sustain their current spending.
Does this mean they will force themselves to apologize to the royal family and beg to be let back in? Who can say for sure...
Their Montecito Mansion Is A Big Expense
Their luxurious 9-bedroom, 16-bathroom Montecito mansion is said to be one of their biggest expenses. The couple reportedly purchased the property for $14M back in 2020, the same year they stepped down as senior royals. They put down around $5M and financed the rest through a mortgage, which sources said at the time was a bad idea.
"They should have bought a $7M house free and clear," a source told Us Weekly Editor-in-Chief Dan Wakeford, adding: "People who buy a $14M home usually buy it outright."
We already know they are rumored to be looking for a home closer to Hollywood, which does little to ease financial concerns. Would they give one up if they had to?
Prince Harry And Meghan Markle Spend $3M A Year On Security
Security is another major cost, as the couple are believed to employ four security staff at home, with additional personnel when travelling. According to an insider, their protection alone costs an estimated $3M per year.
As a result of this huge expense, they have reportedly made cuts elsewhere. Their team – once said to include around 16 full-time staff – has allegedly been reduced to just five employees across their household and Archewell organization.
In addition to their security, remaining roles are said to include a chief of staff, two TV executives, a U.K. press representative, and a U.S.-based PR agency.
Meghan Is Better With Money Than Harry
Sources also suggest there may be differences in how the couple approach money. The former Suits star, who built her career before joining the royal family, is reportedly more mindful of money and more skilled at budgeting.
"Meghan realizes how careful they need to be," one insider claimed. Prince Harry, on the other hand, having grown up surrounded by wealth in the royal family, is said to be less attuned to everyday costs and the act of saving.
And the money he is spending on lawsuits is reportedly a huge part of their expenses too! According to RadarOnline, Prince Harry is allegedly spending "tens of millions of dollars" on his ongoing lawsuits, with his current privacy lawsuit against Associated Newspapers allegedly costing $38M alone. Woah!
