Meghan Markle and Prince Harry's money discussed by expert

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In an interview with Oprah Winfrey, Prince Harry said his family “literally cut me off financially” in the first quarter of 2020. This was during the trial period set out for Harry and Meghan Markle when they first stepped back as working royals, as they forged out on their own to see what life outside the Royal Family might be like for them and their young son.

So how do they make money?

Meghan and Harry already have a fair amount of money behind them.

In the Oprah interview, Harry said: “I’ve got what my mum left me and without that, we wouldn’t have been able to do this.”

Reports show that Prince Harry and his brother William received the bulk of the £13 million fortune left by their late mother, Princess Diana.

According to the BBC, Prince Harry is also thought to have been left millions of pounds by his great-grandmother, the Queen Mother.

Meghan has her own wealth too from her acting career, with seven seasons of the hit show Suits behind her for which she was paid around $50,000 (£38,300) per episode.

And now, as non-working royals, Meghan and Harry are free so seek their own income.

Speaking to Oprah, Harry touched on the Netflix and Spotify deals that he and Meghan have struck.

He said these were never part of the plan but “I had to afford security for us” after his family stopped funding them.

The deals with the streaming networks are speculated to be worth millions.

They have also set up an organisation called Archewell, which has production arms alongside a non-profit foundation.

While the couple are certainly not struggling financially, it is expected that the cost of the level of security required for people with such a high profile is substantial.

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When the couple lived in the UK they were given a security detail provided by the Metropolitan Police. It’s not known how much this cost.

After the Canadian government announced it would stop providing security for the family, Harry and Meghan decided to move to the US, where they remain.

When they first arrived in the States, American billionaire and media mogul Tyler Perry offered the couple a home to stay in and security during the early months of lockdown, the couple revealed.

Asked by Oprah how the couple would respond to accusations of being “money-grabbing”, Prince Harry said: “From my perspective all I needed was enough money to be able to pay for security, to keep my family safe.”

Before deciding to step back from their royal duties, 95 percent of the couple’s income came from Prince Charles’s income from the Duchy of Cornwall.

Money from the Duchy – just over £5 million in total in 2018 to 2019 – covered the public duties of Prince Harry and Meghan, as well as the Duke and Duchess of Cambridge, and some of their private costs.

The taxpayer-funded Sovereign Grant made up the other five percent of their income.

Prince Charles’s accounts suggest about £5.6 million was spent funding the activities of both Harry and Meghan and William and Kate in the year to March 2020, before allegedly cutting Harry off.

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