The age-old debate about wealth and its definition continues, with recent reports suggesting one needs a net worth exceeding $7 million to be among the elite 1% in both the UK and Australia.
By all accounts, Prince Harry and Meghan, the Duke and Duchess of Sussex, certainly fit the bill.
Their financial achievements include a staggering $30 million from a book deal coupled with approximately $22 million earned for their Netflix series, Harry & Meghan.
Yet, amid this glitz and glamour, a pressing question lingers: how quickly can wealth be depleted?
With their foundational narrative—essentially, “Their Story”—now firmly laid bare, Harry and Meghan may find it challenging to create new avenues for income.
Recent whispers from Buckingham Palace have raised concerns about the couple’s lavish lifestyle potentially leading to financial strain.
With their Netflix deal approaching its termination in less than a year, will the Sussexes’ financial future remain stable or lead them into troubled waters?
Last month, the Sussexes dipped their toes into property investment, acquiring a reportedly six-figure property in Portugal.
Interestingly, this region is where Prince Harry‘s cousin, Princess Eugenie, spends part of the year, thanks to her husband’s foray into luxury real estate marketing.
However, the Sussexes’ purchase appears to be purely an investment opportunity rather than a personal residence.
Reports indicate that this venture marks the Sussexes’ initial step toward crafting what they hope to be a “global property empire.”
A source has mentioned that they are being strategic with their finances, aiming to ensure their investments work for them.
However, palace insiders are still apprehensive, highlighting the couple’s significant expenditures.
Not only do they have a hefty mortgage amounting to $20 million, but also an annual security bill nearing $3 million.
Over the past 4.5 years since their move to the U.S., the couple has reportedly spent a whopping $13.5 million on personal security alone.
To grasp their financial situation better, consider this: in September, during his 40th birthday, Harry received a $12 million distribution from a trust established by the Queen Mother for her descendants.
This sum offers a glimpse into their money management, given that it could cover their major expenses for almost two years.
Harry and Meghan’s financial predicaments are twofold: the pressing need to generate considerable income and the challenge of managing their vast expenses.
These issues become even more imminent as their lucrative Netflix deal approaches its end.
The now-infamous date of September 2, 2020, marks when the couple officially signed a seemingly lucrative $100 million contract with Netflix.
Initially, it seemed a guaranteed win-win—pairing a royal family with a streaming giant for captivating content.
However, the reality has turned out to be less rosy.
Out of the three projects that have seen the light of day, only one has truly captured the audience’s attention in terms of viewership, overshadowed by more popular offerings on the platform.
This leads to a broader philosophical inquiry regarding the Sussexes: if they strip away their royal heritage and titles, what unique contribution do they bring to the table?
Audiences will soon find out, with Harry’s upcoming polo-focused series and Meghan’s yet-to-be-titled cooking show debuting in the near future.
On another note, both individuals have expressed entrepreneurial ambitions.
Reports allege that the couple is embarking on a two-pronged business strategy, which includes Meghan’s venture into jam production and Harry’s plans for separate projects.
However, Meghan’s American Riviera Orchard hasn’t yet yielded results—no production or sales have occurred since its announcement in March, and there are complications with trademarking.
Similarly, Harry’s prospective ventures remain unclear and vague, leaving many to ponder just what kind of products or services he might offer.
Despite the surrounding uncertainties, it’s possible Harry and Meghan could turn the tide in their favor.
The landscape surrounding their financial future remains dynamic and full of potential—whether they choose to capitalize on that is still up for debate.
