Prince Harry and Meghan Markle’s Step-Down To Impact Finances

It was previously reported that Prince Harry and Meghan Markle are stepping down as senior members of the Royal Family. They will also divide their time between North America and the United Kingdom. A new report reveals how this will impact their finances in the future.

Professional Earning Income

When Harry and Meghan decided to cut ties with Buckingham Palace, that also meant a change to their income. However, fans shouldn’t worry too much. A working model posted on the Sussex Royal website indicates that the couple will be released from the earnings ban.

“They value the ability to earn a professional income, which in the current structure they are prohibited from doing. For this reason, they have made the choice to become members of the Royal Family with financial independence.”

Prince Harry and Meghan Markle’s Speaking Fees

Prior to marrying, Harry was in the British Armed Forces and Meghan was an actress, best known for her role on the American TV show Suits. It is estimated that they could earn six-figures from speaking engagements.

Royals News: Sovereign Grant

For the past eight years, Queen Elizabeth’s royal duties have been partially funded by the Sovereign Grant. It gives the monarch a quarter of the earnings from the Crown Estate, which had more than 14 billion pounds in net assets last year. (This is equivalent to $18.3 billion).

The funds are used to pay for palace maintenance and repairs, payroll and other expenses of the Royal Family. When it comes to Harry and Meghan’s household, they only receive 5 percent of the Sovereign Grant funds.

The rest is paid by the Duchy of Cornwall, which accumulated 933 million pounds in assets and created an income of 21 million pounds.

Independent Wealth and Economic Contributions

However, it needs to be stated that the Royal couple is already independently wealthy. Harry’s personal fortune is approximately 30 million pounds.

In addition to professional income and their independent wealth, they also have other ways to generate profits. According to Bloomberg, one of these includes economic contributions such as tourism. There is also the possibility that fashion designers could be affected by the influence of royal babies.

Be sure to tune in to catch up on everything happening with Prince Harry and Meghan Markle right now. Come back here often for Royals news, updates, and rumors!