United Kingdom

A £30m fortune for Harry while Meghan is worth £4m but they claim financial concerns

Prince Harry said he was persuaded to sign multi-million-pound deals with Netflix and Spotify when he was ‘literally cut off financially’ from the Royal Family.

The Duke of Sussex told Oprah Winfrey he stopped receiving income from Buckingham Palace shortly after he and Meghan announced their wish to step back as senior royals and spend time overseas.

Harry added that he would have been unable to pay for security to protect his family if it were not for money left to him by his mother Princess Diana in her will.

The couple raised eyebrows when they announced in September a deal worth an estimated £75million to make programmes for Netflix – despite citing lack of privacy as a reason for quitting the Royal Family.

In December, the couple announced a lucrative deal with audio streaming giant Spotify.

The deal, estimated to be worth around £18million, will see Harry and Meghan make podcasts for Spotify’s 320million monthly users to help listeners ‘connect to one another without distraction.’

Prince Harry told Oprah how he and Meghan had to sign deals thought to be worth more than £100million with Spotify and Netflix after he was 'literally cut off financially' from the Royal Family

Asked about the money-spinning partnerships, Harry told Miss Winfrey they were ‘never part of the plan’ but were suggested by a ‘friend’ when they feared financial issues.

He insisted: ‘My family literally cut me off financially and I had to afford security for us.

‘But I’ve got what my mum left me and, without that, we would not have been able to do this.’ He added of the issues he has faced: ‘I think she saw it coming.’

His claims of financial worries come as Harry faces the prospect of becoming richer than all other members of the Royal Family.

Last year, the couple paid back the £2.4million cost of refurbishing Frogmore Cottage in Windsor after it was initially covered by the taxpayer.

He and Meghan are predicted to become the world’s highest-earning celebrity couple with a fortune potentially stretching to $1billion (£700million) within a decade. That compares to the Queen’s wealth which is estimated at £350million.

As superstars of the international circuit, the couple are expected to command fees of up to £1million for speeches and appearances.

Diana left £21million to her sons William and Harry, to be held in trust until they turned 25.

Estimates now put Harry’s portion at up to £20million as it gained value over time.

The duke also received an estimated £7million from the Queen Mother’s will after she died in 2002. His overall net worth is believed to be £30million while Meghan’s is said to be £4million.

Harry's claims of financial worries come as Harry faces the prospect of becoming richer than all other members of the Royal Family. After quitting Britain the family first took up temporary residence in a mansion on Vancouver Island in Canada

When she starred in US TV drama Suits she was paid £2million over six years. She also raked in six-figure sums for film roles and owns property in Toronto.

Before stepping back from royal duties in December 2019, Harry received the vast majority of his income from the Duchy of Cornwall – a portfolio of property and financial investments managed by Prince Charles.

For the financial year 2018-19, this amounted to more than £5million. It is believed Charles, who initially continued to fund the couple, withdrew financial support from the duchy last year when it became clear their move to the US was permanent.

About 5 per cent of the couple’s income came from the taxpayer-funded Sovereign Grant.

However, Buckingham Palace announced the couple would no longer receive public money after their decision to quit as frontline royals. 

The Home Office funded the couple’s Metropolitan Police security but this was withdrawn when they permanently relocated, leaving the couple to foot the bill estimated to be £4million-a-year.

Last year, the couple paid back the £2.4million cost of refurbishing Frogmore Cottage in Windsor after it was initially covered by the taxpayer. 

After leaving Canada, Harry and Meghan moved to a luxury home in Beverly Hills, which was owned by movie mogul Tyler Perry, before buying their present mansion in Santa Barbara.

They also took out a £7.5million mortgage on their nine-bed £11million mansion in Santa Barbara, California.

Asked by Miss Winfrey about the perception the couple could be seen as ‘money-grabbing royals,’ Harry said: ‘We’re certainly not complaining. Our life is great now.’ 

He added: ‘All I needed was enough money to be able to pay for security to keep my family safe.’ 

The couple have set up their own organisation, Archewell, which includes a not-for-profit enterprise and production companies for audio and video content.

It aims to drive ‘systemic cultural change across all communities, one act of compassion at a time.’

Last year they took out a £7.5million mortgage on their nine-bed £11million mansion in Santa Barbara, California

Last year, the duchess took on one of her first major media engagements since stepping back as a senior royal, narrating a Disney documentary about elephants.

Two of the homes Harry and Meghan and son Archie have lived in since leaving the UK behind were lent to them.

After quitting Britain the family first took up temporary residence in a mansion on Vancouver Island in Canada.

They then moved from there to a luxury home in Beverly Hills, which was owned by movie mogul Tyler Perry, before buying their present mansion in Santa Barbara.

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