For those of us who work a regular 9 to 5 job, exactly how the Royal Family makes their money can feel somewhat convoluted. A point of constant speculation and intrigue over the years, exactly where the Royal Family’s estimated $28 billion fortune (according to Forbes) comes from, was only heightened when Duke and Duchess of Sussex, Prince Harry and Meghan Markle, opted to depart from their duties.
In 2020, Harry and Meghan announced they would ‘step back’ from their roles as senior working members of the Royal Family “to become financially independent”.
The statement, made via the official SussexRoyal Instagram account, read: “We now plan to balance our time between the United Kingdom and North America, continuing to honour our duty to The Queen, the Commonwealth, and our patronages.
“This geographic balance will enable us to raise our son with an appreciation for the royal tradition into which he was born, while also providing our family with the space to focus on the next chapter, including the launch of our new charitable entity.”
How Do Harry & Meghan Make Their Money?
In the four years since their departure from royal duties, Harry and Meghan have launched several business endeavours including podcasting, publishing a memoir and signing a deal with streaming juggernaut, Netflix, all of which contribute to their net worth.
Harry & Meghan’s Netflix Deal
Following their departure from the UK as working Royals, Harry and Meghan signed a five-year contract with Netflix for a reported $100 million. Since inking the deal in 2020, they’ve produced two projects including Harry & Meghan, the docuseries on their departure from Royal life, and Heart Of Invictus, another docuseries based on the Prince’s charity for wounded veterans.
Harry & Meghan’s Podcasts
Shortly after their Netflix deal, Harry & Meghan signed on the dotted line with Spotify in a three-year agreement that was reportedly worth $25 million. Only one of the couple’s projects eventuated; Archetypes, Meghan Markle’s podcast which explored female archetypes with prominent women such as Serena Williams and Paris Hilton.
In February 2024, Meghan announced a second podcasting venture, this time in a new deal with Lemonada Media. She announced the news in a statement, which read: ““I’m proud to now be able to share that I am joining the brilliant team at Lemonada to continue my love of podcasting.”
The podcast network inherited Meghan’s Archetypes archive as well as working on a new venture with the former Suits actress.
Harry’s Book (And Meghan’s, Too)
Arguably one of the most successful ventures for the couple has been their foray into publishing, mostly thanks to Harry’s successful autobiography, Spare. In its first week alone, the book sold 629,300 print copies in the US and broke the Guiness World Record for fastest-selling memoir of all time.Meghan has also dabbled in the industry, publishing a children’s book called The Bench, which featured an illustration of the couple’s then newborn daughter, Lilibet Diana. It’s reported the book advance landed Meghan a cool $618,000 paycheck and a spot on the New York Times’ bestsellers list.
Harry’s Royal Inheritance
Having just marked his 40the birthday, Prince Harry is reportedly marked to inherit millions from his late great-grandmother, the Queen Mother, who passed in 2002. According to The Telegraph, Harry is about to be £8 million richer thanks to an inheritance left to him.
“It was a way in which the Queen Mother could set aside money for when her great-grandchildren were older and a way of passing a slice of her estate down in a tax-efficient way,” a former Palace aide told The Times. “It was a way in which some of her estate could be ring-fenced for them.”
It is but a portion of the inheritance Harry receives as part of the royal family, having also received sums following the tragic passing of Princess Diana (an estimated £6.5 million) and at his 30th birthday (a reported £10 million).
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