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Less than 24 hours after the news broke that Prince Harry would be sharing his life’s story thus far in a telling new memoir, we’re learning more about how much the former senior royal is getting paid for the project. The reveal of the hefty sum of money comes less than one day after Random House shared that they would be publishing Prince Harry’s story, news that was particularly shocking to the royal family. But the truth is, there are a number of reasons why Prince Harry could have committed to the project — and they’re all in plain sight.
TMZ reports that Prince Harry is getting a $20 million advance on the memoir, with his ghostwriter, J. R. Moehringer, retaining a fraction of that paycheck for himself. The payout is large, no doubt about it, and we’ve been wondering why Harry would take on such a monumental project at this time, both emotionally and financially. In looking at Harry’s past, it’s impossible not to wonder whether part of the reason Harry accepted the reported offer could potentially be to secure his and his family’s financial future.
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Upon taking a step back as senior members of the royal family, Prince Harry and his wife, Meghan Markle, relied on the inheritance Harry’s mother, the late Princess Diana, left them, he revealed in their Oprah interview (a sum that accumulated to roughly $13.8 million by the time they set off). Harry further claimed that this money was necessary to hire their own security detail during their transition from the royal family as their royal security was reportedly cut off from use.
Coming from a position in which he was used to receiving a regular royal allowance from his father, Harry has likely had a learning curve in adjusting to a life of financial independence, and just how much it costs to buy a home in Montecito and raise two children while protecting them from paparazzi and worse. Harry will never step out of the financial shadow of his father — Prince Charles is set to inherit roughly $500 million when he becomes king — we imagine there’s a certain security in accepting a paycheck that not only guarantees your own financial self-sufficiency but that of your children.
Unlike when Prince Harry and Meghan first made their decision to take a step back from the royal family, the couple now has two children both under the age of three. As many parents know, having children puts a completely new set of priorities in line. Harry will surely face criticism for collecting such a large amount of money to tell his story, but hot off the heels of turning to the “lifesaving” inheritance Diana left him, it seems clear to us that this decision was made with his family on his mind.
Even more so, Prince Harry and Meghan have been adamant about their roles in service to communities, charities and nonprofit organizations. The profit from Prince Harry’s memoir will go to charity, per TMZ, which means that starting with the $20 million is likely all that Harry decided he and his family needed for security, lifestyle, travel, expenses, future projects, charity and a long list of personal wants and needs. There’s a lot to speculate about why Prince Harry is making this decision to release a memoir — whether it’s for his own healing process, to speak his truth, or something else entirely — but curious royal fans might not learn until they open the memoir to that first page.
Before you go, click here to see the best royal family tell-all books in House of Windsor history.
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