Prince Harry, Meghan Markle warned of major financial crunch in the future
Meghan Markle’s businesses may be making waves in the headlines but the Sussexes need to pick up the pace before their astronomical bills begin to catch up.
Apart from her renewed contract with Netflix for her show, With Love, Meghan, the former Suits actress launched her lifestyle brand, As Ever, in partnership with the streaming giant.
She also launched her podcast, Confessions of a Female Founder, and now word is that she is planning to expand As Ever into a restaurant and hotel chain.
Despite the booming business, royal expert Norman Baker believes that all of this would not be enough to sustain the luxurious lifestyle of the Sussexes.
“There’s no doubt in my mind that Meghan and Harry’s income is going to decline in the future. It’s declining now,” he said in a new documentary, Meghan and Harry: Where Did The Money Go?, via The Mirror.
“They’ve done the big hits that they could do. They’ve done the big Spotify event, they’ve done the big book, there is nothing else to come, nothing else to sell apart from themselves.”
The Duke and Duchess of Sussex, when they were still senior working royals, received £2.3m per year from King Charles’s Duchy of Cornwall at the time. However, that pay cheque stopped immediately as the couple moved out of the UK.
Prince Harry said that it was his inheritance from his late mother, Princess Diana, that allowed them to find footing in the US. The couple purchased $14.65 million with a mortgage of $9.5m. They are to repay the amount $50,000-100,000 per month.
Moreover, Harry and Meghan fund their own security, which is no less then a four-car convoy when they travel. Former royal protection officer Simon Morgan noted that the costs can go from “£3m to £6m or £9m or £10m”.
According to PR expert Nick Ede, given the low success rate of Harry’s ventures, Meghan will have the responsibility to be the “family’s breadwinner”.
Meghan previously revealed that As Ever restocks will happen next year. Meanwhile, it remains to be seen if the Duchess’s plans for expansion will be sufficient for their lifestyle expenses.
