Prince Harry and Meghan Markle’s financial journey is vastly different from that of Prince William, despite both coming from royal backgrounds. While Harry and Meghan have built a significant fortune through Hollywood ventures, including lucrative deals with Netflix and Spotify, Prince William’s wealth stems largely from the Duchy of Cornwall, a sprawling property estate valued at 1.2 billion pounds.
The Duchy of Cornwall: A Valuable Inheritance for William
Prince William’s financial situation dramatically changed in September 2022, when he took over the Duchy of Cornwall, a source of private income for the heir to the British throne. Before this, William received a share of the Duchy’s income, which was around $5.7 million per year. However, following Harry and Meghan’s departure as working royals, William’s share increased, and his income has now ballooned to an impressive 23.1 million pounds for 2023-24.
The Duchy has a complex and unique financial structure. Although William can access its income, he does not have control over the assets themselves. For instance, he cannot sell properties within the Duchy’s portfolio. Despite this, the Duchy’s income continues to be a significant asset, growing rapidly with William now poised to earn up to 82 million pounds by 2025.
Comparing Wealth: Harry and Meghan’s Hollywood Ventures vs. William’s Royal Inheritance
While Prince Harry and Meghan’s media empire is extremely successful, it’s difficult to compare it directly to the Duchy’s income. The Sussexes’ financial portfolio includes a reported $100 million Netflix deal, a $20 million Spotify contract, and Harry’s $20 million advance for his memoir Spare. Harry also serves as Chief Impact Officer at BetterUp, while Meghan has invested in businesses like Clevr Blends and Highbrow Hippie.
However, the Sussexes’ exact income is speculative, as they are not required to disclose their financial details publicly. It’s estimated that their combined wealth could generate an annual income of around $5.6 million, significantly less than the annual income of the Duchy. Still, Harry and Meghan’s wealth continues to grow due to their various media deals, investments, and business ventures.
Security and Expenses: Contrasting Financial Pressures
One area where Harry and Meghan’s finances differ from William’s is the issue of security. As working royals, William enjoys taxpayer-funded security, including armed police officers. In contrast, Harry revealed in his memoir Spare that he faced a substantial financial burden to fund his own private security after stepping down from royal duties. Harry was quoted a staggering $6 million annually for security costs, a figure he found overwhelming.
Additionally, the Sussexes’ purchase of a $9 million home in California adds to their financial pressures, although this mortgage is likely offset by their investments.
Investments and Future Prospects
While William’s financial future is relatively stable, with substantial earnings from the Duchy and the potential for further growth, Harry and Meghan’s wealth could be more dynamic, especially if their investments in stocks and businesses continue to perform well. Experts believe that Harry, in particular, could see rapid returns if his investments are performing well, given the strong performance of the stock market in recent years.
Who Will Be Wealthier in the Long Run?
Directly comparing Prince Harry and Meghan’s Hollywood fortune with Prince William’s Duchy income is a complex task. Both parties have built substantial fortunes, but in terms of long-term wealth, William and Princess Kate are poised to see their wealth grow significantly, particularly as the Duchy continues to generate substantial income.
While the Sussexes’ wealth remains highly dependent on the success of their media deals and investments, William’s wealth is more secure, rooted in a centuries-old inheritance that will likely continue to provide long-term financial stability.
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