How Prince Harry and Meghan Markle Make Money Without the Royal Family
“Do you have any?”
Narrator: Prince Harry’s Memoir “Spare” is the latest release from the Duke and Duchess of Sussex’s vast portfolio of shows, podcasts and books. After stepping down as working members of the British Royal family in 2020, no longer paid to represent the Crown, the couple have explored new income streams as the next chapter of their lives unfolds. Here’s what we do and don’t know about how Harry and Meghan make their money.
Reporter: Harry, are you putting money before family? Are you putting money before family?
Narrator: In “Spare”, the title and nod to having heir and a spare to the throne. Prince Harry speaks about topics ranging from physical altercations with his brother William to losing his virginity to an older woman behind a pub. The couple signed a book deal with Penguin Random House widely reported to be worth $20 million, which includes the headline-grabbing memoir.
Mary Sheldon: I called my publishers rep right away and said, “put me on the list.”
“The story is interesting because it keeps evolving.”
“I’m sure it’s partially due to a lifestyle that they want and what can they sell?”
Narrator: On the day of its release, “Spare” was at the top of Amazon’s best sellers list alongside the book deal, there are multi-year agreements with Netflix and Spotify reported to be worth roughly $120 million. Harry and Meghan will make content for the two platforms through divisions of their Art Trail organization. Their first offering for Netflix, a six-part documentary series had the streaming services biggest debut for a documentary titled by hours viewed the company said.
Harry: We all have greatness within us.
Narrator: Harry also has a job at the Silicon Valley startup Better Up as Chief Impact Officer. His compensation package was not disclosed, but jobs with that title boast an average salary of $140,000, according to talent.com. The due conductors also received an unknown but substantial sum from Harry’s father, according to a spokesperson. All together, that would total a lot more than the sum they received from then-Prince Charles in 2020. Financial releases from his estate reveal the Sussex’s, along with William and Kate, shared around $5.4 million to fund their activities.
Now, Harry and Meghan have security costs and living expenses to worry about. They live in Montecito, California, where they bought a home for over $14 million and there was the small task of paying the Crown back the estimated 3 million it cost to renovate Frogmore Cottage in Windsor. Harry and Meghan lived there after they were married, until they moved to the U.S.
Leaving the family business, so to speak, has opened up a world of new opportunities for the couple, but their sources of revenue are less secure. At least King Charles III has a guaranteed income from his property estates and public funding. Representatives of the Duke Duchess didn’t immediately respond to a request for comment. It is possible Harry and Meghan will need to continue making commercial deals to sustain their lifestyle.