Prince Harry Lost His ‘Safety Blanket of Daddy’s Money’ When He Left the Royal Family
A royal editor says that Prince Harry lost his “safety blanket of Daddy’s money” when he left the royal family. They discussed Harry’s current financial situation and whether he was really cut off by the royal family when he and Meghan Markle left their roles as senior royals in 2020.
Did Prince Harry lose his ‘safety blanket of daddy’s money’?
Daily Mail Royal Editor Rebecca English sat down for a panel discussion for Palace Confidential, where she discussed Prince Harry’s claims the royal family had cut him off. He shared these details in an interview with Oprah Winfrey in 2021, one year after he and his wife, Meghan Markle, exited the House of Windsor in 2020.
He said, “My family literally cut me off financially. I’ve got what my mum left me; without that, we would not have been able to do this.”
English said, “Obviously, when Harry left, he tried to make out that he’d been cut off, penniless. Which none of us believed at the time.”
She continued, “Of course, when the royal accounts came out that year, it was quite clear within the-then Duchy of Cornwall accounts, which was then Prince Charles’ pot of money, it was quite clear he’d been covering their upkeep to the tune of several million pounds a year.”
English continued, “That did stop because Harry wanted to carve his way. Obviously, he doesn’t have that safety blanket of daddy’s money to come back to unless Charles was so kind to give it to him.”
Will Prince Harry and Meghan Markle be able to fund their luxe lifestyle?
The Daily Mail‘s Rebecca English wrote a lengthy commentary on Prince Harry and Meghan Markle’s financial outlook. She dug deep into their Netflix deal and other information she could source from their current income streams.
She wrote, “As for Harry and Meghan, it’s understood that they will have managed to keep around $15 million just for themselves [from their Netflix deal], which is not bad business. But that kind of money doesn’t last long with their lifestyle.”
English shared more details about the couple’s luxe lifestyle. Their Montecito mansion was purchased in 2020 for $14.7 million and has a mortgage of $9.5 million.
She deduced that their mortgage payments may run to $50,000 a month. But add to that their security detail, which she says may cost Harry and Meghan $2 million a year, yearly taxes of $68,000, staff costs of $300,000, and utilities costing up to $24,000 a year, and the couple must continue to develop new projects to stay afloat.
What’s next professionally for Prince Harry and Meghan Markle?
Right now, it appears Meghan Markle has the potential to substantially increase the couple’s income stream. She has several high-profile deals in the works.
First, Meghan recently signed with Lemonada Media. She will produce a new podcast for the company, and the company will stream one season of her former Spotify podcast, Archetypes.
Meghan signed with William Morris Endeavor in early 2023 for projects outside of acting. However, the PR agency hasn’t publicly announced any new deals for the Duchess of Sussex.
Prince Harry and Meghan still have one year remaining on their Netflix contract. They are reportedly adapting the book Meet Me By the Lake for the streaming company.
Prince Harry and Meghan Markle live in Montecito, California. They are parents to Prince Archie and Princess Lilibet.
