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The Duke and Duchess of Sussex may have to hold off on their charity endeavors for financial reasons. Prince Harry and Meghan Markle could have new monetary concerns due to the coronavirus pandemic and having to fund their own security.
"For Harry and Meghan, on top of the difficulties that they've had with the press, there has been this sort of underlying issue of who pays for security moving forward," ABC royal contributor Omid Scobie said. “It is something the couple were very mindful of that from March 31 that it would have to be done by themselves.”
Scobie pointed out that the couple had even offered to pay back the renovation costs for their home in Britain in order to avoid further criticism from outsiders. He added that it doesn’t surprise him that they are also paying for their own security.
CTV's Laney Lui, who guest-starred on the podcast, added: "Security is not cheap...For them, you’re dealing with at least multiple personnel and round-the-clock and having to account for travel and certain expenses. So this goes back to everybody’s curiosity about what their future plans are going to be because they’re gonna have to have a pretty significant income in order to cover that plus their lifestyle."
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Scobie shared that he believes this may have guided the couple’s decisions when it comes to their future philanthropic endeavors.
"I think that's perhaps...why they didn't go down the route of starting a foundation because they don't have sort of an unlimited fund behind them to start something like that," he explained. "They would have had to fundraise alongside raising their own money as well because they have spent the past few years not earning a living. That work that they do for the royal family doesn’t really come with a salary, per se.”
Furthermore, Lui and Scobie noted that the current COVID-19 crisis has likely further complicated things for the couple.
“It’s going to be tough for them certainly for these few months ahead,” Scobie said, as noted by Express. "No one really knows when there is sort of an end date to this. This could be something that follows us for some time. That will, of course, provide different obstacles to the couple that they weren't expecting."
As previously reported, prior to their exit as senior members of the British royal family, the Duke and Duchess used their last post on their Sussex Royal Instagram account to address how society can come together to cope with the pandemic.
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“What’s most important right now is the health and well-being of everyone across the globe and finding solutions for the many issues that have presented themselves as a result of this pandemic,” they wrote. “As we all find the part we are to play in this global shift and changing of habits, we are focusing this new chapter to understand how we can best contribute. While you may not see us here, the work continues.”
Meghan Markle and Prince Harry are now living a more private life in Vancouver Island in Canada. To recall, the Duke and Duchess of Sussex announced, in January, that they are ditching the royal life for good to focus more on raising their son, Archie Harrison Mountbatten Windsor. Aside from avoiding the never-ending media scrutiny, Meghan and Harry decided to quit being senior royals to become financially independent.
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While the Sussex couple is, currently, making so many adjustments after their bold move, recent reports suggested that Meghan and Prince Harry are already facing major financial troubles. Woman’s Day Australia reported that the Duke and Duchess of Sussex are already $13 million on debt. Sources even told the entertainment news publication that the royal pair is “hemorrhaging money at an alarming rate” since the controversial ‘Megxit.’
“Meghan’s bank account from her acting days wasn’t strong – she wasn’t exactly an A-lister – and the allowance Harry gets from his dad’s wealth and his mum’s trust isn’t going to sustain them for long,” an insider claimed. “When you consider that, it makes the fact that they’re going with their caps out to wealthy American banking firms a little more understandable. They clearly don’t care how it’s going to look to anyone as long as they can maintain their flashy lifestyle,” it went on.
The same magazine claimed that Prince Harry is currently having discussions with Goldman Sachs. The younger brother of Prince William is allegedly working with the investment-banking giant as a public speaker. This, according to the report, could help him earn a total of $2 billion.
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Meghan Markle, for her part, has reportedly returned to modeling to help raise funds for the family’s needs. “She’s offering herself out to the world’s elite fashion houses as soon as she gets the last of the baby weight off,” another tipster shared.
Amid the reports about the Sussex couple’s financial challenges, Daily Mail reported that Meghan and Prince Harry are planning to purchase an eighth-bedroom house in Toronto. Worth $15 million, the said property, also, has a media room, infinity pool, an indoor gym, staff quarters and a wine cellar.
Both Meghan Markle and Prince Harry have yet to comment on these reports. Therefore, devoted supporters of the couple should take these unverified claims lightly until everything is proven true and correct.
Also, we learned from reliable sources that the Duke and Duchess of Sussex are worth around $30 million so there is no way they could be struggling financially especially they have just stepped down not long ago.
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It was added that the couple’s fortune mostly came from Prince Harry’s inheritance from Princess Diana and from his great-grandmother, Queen Elizabeth the Queen Mother. What’s more Prince Harry and Meghan Markle could easily strike a deal in the entertainment business and in fact, The Daily Mail reported that some experts claimed that Netflix and other major TV networks in the U.S. have expressed their interest to work with them even if it’s just for interviews which could already let them earn around $600 million.
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