Prince Harry and Meghan Markle are reportedly facing a financial “time bomb” as their income from various ventures is beginning to dry up, thus leaving them with huge outstanding bills.
Since 2020, when they renounced their duties in the royal family, the Duke and Duchess of Sussex have been making a lot of money by selling their stories to Netflix and Spotify, and publishing Harry’s revealing book.
Has The End Come For Profit-Making Deals?
The couple’s $100 million Netflix deal, which financed their docuseries Harry & Meghan, has come to a halt, as no new significant projects have been announced. The Spotify collaboration was also terminated after only one season of Meghan’s podcast.
Being the best-selling book doesn’t guarantee the author a source of regular income, so Harry’s memoir is considered a one-off profit rather than sustainable earnings. Royal commentator Richard Fitzwilliams told The Mirror: “They have spent all the money from the initial deals and there is no indication of what is next. The big money won’t be there forever.”
Mounting Bills and Security Costs
Although they have left the UK, the Sussexes are still not off the hook; the expenses that they have to handle are enormous. Their Montecito mansion reportedly costs over $14 million, not to mention the property taxes and upkeep fees that are very high. On top of that, their private security, which is estimated to be $3 million per year, is still the biggest part of their budget.
In addition to this, Harry’s legal fight with his continuous police protection in the UK has resulted in a lot of legal fees; at the same time, Meghan’s relaunch of her lifestyle brand American Riviera Orchard is not generating a significant amount of money yet.
Will They Return to Royal Life?
With the financial strain increasing, there has been a lot of talk about whether Harry and Meghan might decide to do some part of their royal duties. However, according to Fitzwilliams, this scenario is very far from being a reality: “The rift is too deep. They’ve built their brand on independence, but now they must find new ways to sustain it.”
As the pace of their attempts in Hollywood diminishes, the Sussexes could be forced to step back and think of a new approach to their venture or face a money crisis soon.
