Prince Harry, Meghan Markle, Royal Family

Prince Harry, Meghan Markle

Harry and Meghan's finances - multi-million pound deals and Diana inheritance

Harry and Meghan's finances - multi-million pound deals and Diana inheritance

7/23/2021 11:42:00 PM

Harry and Meghan's finances - multi-million pound deals and Diana inheritance

On stepping back as senior royals in early 2020, Prince Harry and Meghan Markle announced that they would 'work to become financially independent'

The couple made the decision after "many months of reflection and internal discussions", saying they felt "prepared to make this adjustment".Earlier this week, it was revealed that Harry would be releasing an "accurate and wholly truthful" memoir and it has been reported he could have netted an advance of £14.5 million - which he'll give to charity.

But with much of the cash the couple have raked in since giving up the pot of royal cash, where do they get their money from? And more interestingly, how do they spend it?Business deals Since stepping back from the royal family, Harry and Meghan have signed several deals that are thought to be worth millions of dollars.

One is with Netflix, which they will work with to create "content that informs but also gives hope".It is unknown exactly how much the deal is worth but it has been reported it could be worth $112 million.Programmes in the works are believed to be a documentary about the Invictus Games that Harry founded and a children's series about a young girl's adventures called Pearl, where Meghan will act as executive producer.

The couple has also signed a deal with Spotify, said to be worth £30 million to produce podcasts that promote “diverse and inspiring voices” under the couple's brand Archewell Audio.Last year, Meghan enlisted the help of her billionaire chat show friend Oprah Winfrey to help sell a vegan brand of coffee she had invested in.

The Duchess backed the firm Clevr Blends – a start-up that makes instant oat-milk lattes – as she reportedly “begins to build a portfolio of startup investments”. However, the value of the deal is unknown.She also wrote a children's book called The Bench, which was inspired by a poem she wrote for Harry shortly after son Archie was born.

It is unknown if Meghan received an advance for the book, but a branding expert told MailOnline an advance could have been worth £500,000.Meanwhile, Harry took a job as the chief impact officer at Silicon Valley start-up BetterUp that focuses on coaching people on their mental health to help people's performance. His salary has not been revealed but a tech expert revealed it could be around £2 million.

The latest project is Harry's memoir, however the cash is reportedly going to charity.Prince Charles' estate Love the royals? Sign up for the Mirror's daily newsletter to get all the latest news on the Queen, Charles, Kate, Wills, Meghan, Harry and the rest of The Firm. Click here to sign up .

Before they left the UK, most of the couple's income came from Prince Charles via his income from the Duchy of Cornwall estate.And in June, Clarence House said Prince Charles continued to support the Sussexes financially, giving them a "substantial sum", in the months after they stepped down as senior royals in March 2020.

It added: "That funding ceased in the summer of last year. The couple are now financially independent."The royal accounts were made public just months after Prince Harry's told Oprah Winfrey that his family had cut him and wife Meghan Markle off financially following their move to the US.

Inheritance In the Oprah interview, Harry revealed he and Meghan had relied on his inheritance from his late mum Princess Diana in order to move to the US.It is thought to have been a sum of about £7 million at the time of her death in August 1997.

He told Oprah: "I brought what my mum left me. And without that, we would not have been able to do this."In addition, when the Queen Mother died in 2002, reports suggested Harry and William would split about £14 million from their great-grandmother's estimated £70 million fortune.

Meghan's acting career Before meeting Harry, Meghan had a successful acting career and was one of the stars of the TV legal drama Suits.It is believed she was paid around £38,000 per episode for her role as paralegal Rachel Zane.As well as acting, Meghan also ran a successful lifestyle blog and designed a clothing line for Canadian brand Reitmans.

Sprawling mansion After settling in California, Harry and Meghan snapped up a sprawling nine-bedroom house in the exclusive community of Montecito.The house is reportedly worth £11 million and the couple reportedly has a mortgage of around £7 million.

It is believed they will have to pay almost £50,000 per month over the next 30 years to cover the mortgage repayments as well as property taxes and insurances.Security While living in the UK, the couple's security was provided by the Metropolitan Police - but the cost was unknown.

During the interview with Oprah, Harry said the couple's big money deals with the likes of Netflix and Spotify were "never part of the plan" but necessary.He said: "From my perspective all I needed was enough money to be able to pay for security, to keep my family safe."

Frogmore Cottage works After marrying in 2018, the couple settled at Kensington Palace but eventually moved to Windsor and into a new home - Frogmore Cottage.The home was renovated before they moved in at a cost of £2.4 million - with the UK taxpayer initially footing the bill.

However, some urged the couple to pay back the millions spent refurbishing the property after they stepped down as working royals last year.Last month, it was revealed that the couple had indeed reimbursed public purse for the money used to pay for the renovations.

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