Kate Middleton has made her royal return and King Charles is recovering from his cancer diagnosis. In many ways it feels like the Royal Family is returning to full strength, even if the estranged Prince Harry and Meghan Markle remain strangers to the fold.
The Sussexes have created a new life in the US, while their children, Prince Archie and Princess Lilibet, are growing up fast. Despite the kids still being very young, they’ve already made many headlines.
Harry and Meghan have begun building their empire in the US, venturing into numerous business opportunities. Meghan created her lifestyle brand, and just days ago, Harry received millions from an old trust fund. What the Duke will do next is unclear, but according to one expert, he has a very special financial plan in place for his children.
Prince Harry and Meghan Markle weren’t exactly poor when they left the Royal Family. The Duke had been receiving a portion of the Crown’s incredible wealth –which he was entitled to – while Meghan was a big name in her own right even before joining the British monarchy.
Prince Harry & Meghan Markle – business ventures
Only months after the royal exit, Harry and Meghan reportedly secured a five-year $100 million production deal with Netflix. They also signed a four-book deal with their publisher, said to include an eye-watering $20 million advance and global royalties for Harry’s book, Spare, which is itself reportedly worth more than $120 million.
Spare was a massive success, becoming the fastest-selling nonfiction book ever published. According to bestselling author Richard Osman, Prince Harry likely made tens of millions from the book.
Speaking on his podcast, The Rest Is Entertainment, earlier this year, Osman said: “It’s impossible to overestimate how much money that has been made.
“I mean, it’s been one of the most successful books. The fastest-selling nonfiction book of all time. I’ve done some back-of-the-envelope calculations because I like to,” the author continued, per Express.
“I know what you get paid per book. Got a $20 million advance. Thing with an advance is, you get paid in advance, $20 million in that case, you do not make a penny until your publisher makes back their $20 million.”
But that wasn’t all. The couple pocketed an additional $20 million for their Spotify deal. According to an industry expert speaking to Newsweek, the agreement itself was worth around $35 million.
Prince Harry & Meghan Markle were dropped by Spotify
On top of that, Harry and William shared the reported $14 million fortune their mother, Princess Diana, left them. Meanwhile, Meghan had millions in the bank after her successful career as an actor. In the final seasons, released in the years she first met Harry, she reportedly earned about $50,000 per episode.
Harry and Meghan’s celebrity lifestyle in Montecito, which includes living in a lavish $14 million mansion, is undoubtedly what many dream of. The Duke and Duchess have been through a lot in recent years but appear to have settled well into their new life.
Their Netflix series was a huge success, and Harry’s book, Spare, sold millions of copies in just a few days. Meanwhile, Meghan embarked on her own Spotify podcast, which seemed hugely promising in its early days.
The Spotify deal would ultimately become Harry and Meghan’s first significant setback; last summer, the couple and the music giant mutually agreed to part ways.
According to an unnamed Variety source, Spotify was said to have been expecting more content from Archewell Studios.
Another source told the American news outlet that Harry and Meghan no longer want to distribute exclusively to Spotify. Instead, they have found other homes for their audio projects.
Spotify boss called Prince Harry & Meghan Markle “grifters”
No matter the reason, it’s safe to say that the project was a disaster for Harry and Meghan. And it got worse as Bill Simmons, the company’s head of podcast innovation and monetization at the time, lashed out at the couple on his podcast.
“I wish I had been involved in the ‘Meghan and Harry leave Spotify’ negotiation. The Fucking Grifters, that’s the podcast we should have launched with them,” Simmons said on the Bill Simmons podcast.
“I have got to get drunk one night and tell the story of the Zoom I had with Harry to try and help him with a podcast idea. It’s one of my best stories… Fuck them. The grifters.”
While Spotify didn’t work out, Harry and Meghan have continued to produce documentaries through their Archewell production company. As of 2024, the couple has released three documentaries, including one about themselves. Later this year, a new documentary on polo is set to air.
Meghan Markle has also established her own business journey. The Duchess announced her lifestyle brand, American Riviera Orchard, in March earlier this year. In the announcement video, shot at the couple’s Montecito mansion, Meghan walked around the beautiful home and showcased her cooking.