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How Rich Are Harry And Meghan?

AP/REX / Shutterstock.com
AP/REX / Shutterstock.com

After Prince Harry and Meghan Markle shocked the world by stepping down as ‘senior’ members of the Royal Family in early 2020, the two embarked on an unprecedented lifestyle for Royals in Montecito, California.

Read More: Here’s How the British Royal Family Spends Their Money

Prior to their departure, 95% of their expenditures were paid for by Prince Charles’s Duchy of Cornwall portfolio and the other 5% was financed by the taxpayer-funded Sovereign Grant, according to their website. Now, Forbes reports the couple receives most of their wealth from the $10 million Prince Harry received after his mother, Princess Diana, died in 1997. In addition, Markle contributed $2 million from her work in TV and films.

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Find Out: How Rich Are Queen Elizabeth and the Rest of the British Royal Family?

The Sussexes have clearly found a way to continue their lavish lifestyle, as they purchased a $14.7 million Montecito, Calif. estate in June of 2020. The Daily Mail also reported they personally agreed to pay their own security costs, which could total approximately $5.3 million($4 million GBP to USD) per year.

The couple is currently expecting their second child. Their first child, Archie, was born in May of 2019.

Here’s a look at the pair’s current net worths and sources of income as they become financially independent.

Last updated: Mar. 4, 2021

Mandatory Credit: Photo by Shutterstock (10444945m)Britain's Prince Harry and Meghan Duchess of Sussex, arrive to attend the WellChild Awards CeremonyWellChild Awards, Royal Lancaster Hotel, London, UK - 15 Oct 2019.
Mandatory Credit: Photo by Shutterstock (10444945m)Britain's Prince Harry and Meghan Duchess of Sussex, arrive to attend the WellChild Awards CeremonyWellChild Awards, Royal Lancaster Hotel, London, UK - 15 Oct 2019.

Harry and Meghan Net Worth

Despite losing their main sources of income, Harry and Meghan won’t be hurting for cash — at least not for a while. When Princess Diana died in 1997, Harry and Prince William received most of her estate, which was valued at $31.5 million, according to Forbes.

Markle also has a net worth of $2.2 million, which is largely generated from her acting career. Forbes estimates she earned up to $85,000 per episode at the peak of her time on “Suits.” She played Rachel Zane on the television series from 2011 to 2018.

Find Out: This Is How Much It Costs to Travel Like the Royal Family

Meghan Markle
Meghan Markle

Paid Appearances

The former Royals are ready to get to work, as they signed on with the Harry Walker Agency for speaking engagements in June 2020, according to The Los Angeles Times. This will involve participating in moderated discussions and giving keynote speeches to trade associations, corporations and community forums.

Booking Meghan and Harry won’t come cheap, as ET reports multiple sources have cited their rate as an estimated $1 million per speech. While their speaking fee alone is a lot, a report from the Telegraph highlighted some of their other very-specific requirements, which include the ability to approve the moderator of the discussion and the person who introduces them, in addition to previewing a full list of audience members.

They also want to know who’s sponsoring events they participate in and what the sponsors are receiving for their support.

Read More: These Are the 12 Richest Princesses in the World

Netflix, Inc.
Netflix, Inc.

Media Deals

In September 2020, the Duke and Duchess signed a 5-year $100 million contract with Netflix to produce documentaries, docuseries, feature films, scripted shows and children’s programming.

“Our lives, both independent of each other and as a couple, have allowed us to understand the power of the human spirit: of courage, resilience, and the need for connection,” the couple said in a statement. “Through our work with diverse communities and their environments, to shining a light on people and causes around the world, our focus will be on creating content that informs but also gives hope.”

Most recently in February 2021, Prince Harry and Markle expanded their brand by announcing a partnership with Spotify. The couple plans to produce podcasts and shows that “elevate voices that maybe aren’t being heard.”

The deal could be worth as $15 million to $18 million, according to industry sources. In addition to their media pursuits, the couple is pursuing speaking engagements. Prince Harry spoke at a private JPMorgan summit in Miami in February 2020, which paid reportedly $1 million.

Read More: The Most Surprising Jobs Held by Royals

LE BOURGET near PARIS, FRANCE - NOVEMBER 30, 2015 : The prince of wales at the Paris COP21, United nations conference on climate change.
LE BOURGET near PARIS, FRANCE - NOVEMBER 30, 2015 : The prince of wales at the Paris COP21, United nations conference on climate change.

Allowance From Prince Charles

Speculation surrounding Harry and Meghan’s finances as private citizens has included questions as to whether Prince Charles will continue to help fund their lifestyle from his personal fortune.

In May, the Daily Mail reported that the couple hired an exclusive security team in Los Angeles that cost an estimated $9,300 per day. An insider told the publication the Sussexes could only afford to start paying their nearly $3.2 million Frogmore Cottage renovation bill after Charles stepped in to pay their security costs. However, friends of the former royals insisted they paid their security bill themselves.

Charles might’ve been helping them with at least some living expenses for a while. However, Harry and Meghan have officially been financially independent since at least September, according to People. After signing their Netflix deal, the couple now has the funds needed to fully finance their lifestyle.

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Sam DiSalvo contributed to the reporting of this article.

This article originally appeared on GOBankingRates.com: How Rich Are Harry And Meghan?