Now that Prince Harry and Meghan Markle have completed their Hollywood transition, the couple is entering an uncharted new chapter in life now that they won’t be returning as full-time working members of the British royal family. No diplomatic formalities. No government security detail. And no royal patronage.
Up until last year, Harry’s father, the Prince of Wales, covered the majority of the expenses associated with their royal duties, including staff and travel, through the Duchy of Cornwall, which Forbes estimates amounted to about $800,000 a year. The Crown paid for more than $3 million for renovations underway at Frogmore Cottage before it became their family home in the U.K. They voluntarily repaid the sum in September with a contribution to the Sovereign Grant.
That’s left them with the progressive new life they want but also the kind financial uncertainty—a former royal’s version of it, at least—of recent college graduates who’ve just left home to embark on the independence of adulthood. His older brother and future king, Prince William, covers expenses with help from the Duchy of Cornwall, which in the last fiscal year spent about $8 million to support the public, charitable and personal activities of Prince Charles and his immediate family.
Prince Harry spoke about his withdrawal from official Royal duties with fellow Brit James Corden on The Late Late Show yesterday—a week after Buckingham Palace released a statement—but he took issue with Corden’s depiction of him “walking away” from the family. “It was never walking away; it was stepping back rather than stepping down,” said the Duke, saying he decided to leave to escape a relentless press. “We all know what the British press can be like and it was destroying my mental health. This is toxic. So I did what any husband, what any father, would do. I need to get my family out of here.”
Read the full profile on Forbes: https://www.forbes.com/sites/dawnchmielewski/2021/02/26/how-much-are-prince-harry-and-meghan-markle-worth-surprisingly-not-that-much/?sh=f14dc4ec4179
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