How Prince Harry and Meghan Markle earned their money, from a $100 million Netflix deal to Harry's inheritance

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Meghan Markle and Prince Harry in March 2020.Samir Hussein/WireImage/Getty Images
  • Prince Harry and Meghan Markle left their royal roles in 2020 to become "financially independent."

  • Later that year, they signed a deal with Netflix reportedly worth $100 million.

  • Here's how they've earned their money and how they spend it.

In January 2020, Prince Harry and Meghan Markle shared their decision to be "financially independent" from the royal family.

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Prince Harry and Meghan Markle.Phil Noble/Pool/Getty Images

"We intend to step back as 'senior' members of the Royal Family and work to become financially independent, while continuing to fully support Her Majesty The Queen," their January 2020 statement read. "We now plan to balance our time between the United Kingdom and North America, continuing to honor our duty to The Queen, the Commonwealth, and our patronages."

In the couple's interview with Oprah Winfrey in March 2021, Prince Harry said the primary reasons for their leaving their royal roles was a "lack of support and lack of understanding" from both the media and the royal family.

Harry told Oprah Winfrey in March 2021 that the royal family cut him off financially after he and Meghan "stepped back" from being senior royals.

Prince Harry and Meghan Markle in their interview with Oprah Winfrey
Prince Harry and Meghan Markle spoke with Oprah Winfrey for their first sit-down interview since leaving their royal duties.Handout/Getty Images

Harry said he stopped receiving any financial support from his family in "the first quarter of 2020," the same time that the couple released their statement that they were working towards becoming financially independent.

The offices of Prince William and Kate Middleton continued to be "paid for from His Royal Highness's private income," according to King Charles III's financial report from 2021.

A senior Clarence House spokesperson told the BBC that Harry and Meghan received a "substantial sum" from Charles to make their transition to financial independence easier.

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Meghan Markle, King Charles III, and Prince Harry attend Trooping the Colour in 2018.Samir Hussein/Samir Hussein/WireImage/Getty Images

However, the spokesperson said the couple officially stopped receiving funding in the summer of 2020.

There's no officially recognized figure for what Prince Harry and Meghan Markle are worth in 2022. Business Insider reported in 2020 that the couple were worth at least $30 million, citing 2018 estimates from, which were made before the couple inked their Netflix deal.

In February 2021, several months after the Netflix deal was announced, Forbes put their estimated net worth at $10 million.

Harry and Meghan have also relied on inheritance from his mother's estate.

Princess Diana, Prince William, and Prince Harry in 1993
Princess Diana, Prince William, and Prince Harry visit Thorpe Park in 1993.Julian Parker/UK Press via Getty Images

"I've got what my mum left me and without that, we wouldn't have been able to do this," Harry told Oprah in March 2021. "She saw it coming, and I certainly felt her presence throughout this whole process."

Prince Harry inherited an estimated $10 million from Princess Diana's estate after her death on August 31, 1997.

He earned $50,000 a year from his job as a captain in the British Army.

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Prince William and Prince Harry in their military uniforms.Chris Jackson/Getty Images

Prince Harry served in the Army for 10 years, including service in Afghanistan.

Before she left acting to join the royal family, Meghan Markle had an estimated net worth of $5 million.

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Meghan Markle in September 2017.Samir Hussein/WireImage/Getty Images

The actress reportedly earned $50,000 for each episode of "Suits" and a combined $360,000 from her roles in the 2010 movies "Remember Me" and "The Candidate," Business Insider previously reported, citing Town & Country magazine.

Markle also ran the successful lifestyle blog The Tig, which she shut down after getting engaged to Harry.

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Meghan Markle on "Suits" in 2017.Ian Watson/USA Network/NBCU Photo Bank/NBCUniversal/Getty Images

She made around $80,000 a year from sponsorships and endorsement deals.

Meghan Markle is also a published New York Times bestselling children's book author.

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Meghan Markle and the cover of "The Bench."Facundo Arrizabalaga - Pool/Getty Images, Penguin Random House

"The Bench," inspired by a Father's Day poem she wrote for Prince Harry, was published on June 8, 2021.

The children's book spoke about the relationship between a father and son from the perspective of a mother. The book featured illustrations by Christian Robinson and became a New York Times bestseller within a week of its release.

According to The Sun, Markle potentially got a $700,000 advance for "The Bench."

Prince Harry's autobiography "Spare" will be released on January 10, 2023.

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Prince Harry photographed in 2016, left, and the cover photo for his memoir, "Spare," right.Ben A. Pruchnie/Getty Images, Penguin Random House

The book's title refers to the "spare" title he received as the brother of the heir to the British throne and the fact that he will likely never become king. Harry's brother, Prince William, is the eldest son of King Charles III and first in line to be king.

The synopsis reads: "It was one of the most searing images of the twentieth century: two young boys, two princes, walking behind their mother's coffin as the world watched in sorrow—and horror. As Diana, Princess of Wales, was laid to rest, billions wondered what the princes must be thinking and feeling—and how their lives would play out from that point on. For Harry, this is that story at last."

"With its raw, unflinching honesty, Spare is a landmark publication full of insight, revelation, self-examination, and hard-won wisdom about the eternal power of love over grief," the synopsis continued.

According to Insider, Prince Harry has pledged to donate the proceeds of the book to charity and has already donated $1.5 million to Sentebale, a charity that supports children and young people affected by HIV and AIDS.

In September 2020, Markle and Prince Harry founded their own production company and signed a deal with Netflix reportedly worth $100 million.

Netflix.Photo by Britta Pedersen/picture alliance via Getty Images

"Our focus will be on creating content that informs but also gives hope," the couple said in a statement. "As new parents, making inspirational family programming is also important to us."

Their Netflix documentary series, "Harry & Meghan," which premiered on December 8, follows the couple as they navigate post-royal life. They shared intimate details of their life together and new photographs in the series' first three episodes.

Meghan and Harry also received $30 million for a three-year podcasting deal with Spotify.

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Prince Harry and Meghan Markle.Kirsty Wigglesworth/Pool/Getty Images

The couple did not produce any content for the platform in 2021, which reportedly led Spotify producers to step in, according to Forbes. Meghan Markle has since released her own Spotify podcast, "Archetypes."

"Archetypes is the podcast where we explore and subvert the labels that try to hold women back. Here's where we dismantle them with action," the podcast's description reads.

After stepping back from their roles as senior royals, Meghan and Harry repaid the £2.4 million, or $2.9 million, cost of renovating their home, Frogmore Cottage in Windsor.

Frogmore Cottage
Frogmore Cottage.zz/KGC-09/STAR MAX/IPx 2019/AP

The cost of renovating the home was originally paid for by British taxpayers through the Sovereign Grant, according to the BBC. The couple paid back the money in 2022 after signing the deal with Netflix.

They purchased their first home together, an estate in Santa Barbara, California, in July 2020 for $14.65 million.

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Santa Barbara, California.Jordan Siemens/Getty Images

According to Vogue, the pair settled in the private and exclusive neighborhood of Montecito. The publication also reported that, according to property records, the royal couple bought their 14,500-square-foot home for $14.65 million. They put down $5 million, leaving them with a $10 million mortgage, Forbes reported.

"The Duke and Duchess of Sussex moved into their family home in July of this year," a spokesperson for the couple told Insider in August 2020.

"They have settled into the quiet privacy of their community since their arrival and hope that this will be respected for their neighbors, as well as for them as a family."

On a trip to New York City in September 2021, the couple stayed at the swanky Carlyle Hotel, where Princess Diana was a frequent guest.

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Meghan and Harry in New York and the Carlyle Hotel.Gotham/Contributor/Getty Images and The Carlyle, A Rosewood Hotel

The couple dined at the hotel's famous Bemelmans Bar. The two-bedroom Royal Suite, where Princess Diana reportedly stayed during her trips to New York, runs for a whopping $8,000 a night, according to the Observer.

Meghan and Harry have received criticism for their use of private jets to travel.

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The newly married Duke and Duchess of Sussex, Meghan Markle and Prince Harry, leave Windsor Castle in a Jaguar E-type convertible.Steve Parsons/pool photo via AP

In December 2022, Markle traveled by private jet for the second time in a week to attend an awards ceremony with Prince Harry in New York. She was previously seen boarding a private jet in Indianapolis after appearing at a female empowerment event in the city, according to the Independent. Their use of private jets has raised questions about environmental impact, The Times reported.

When asked about his family's use of private jets in 2019, Harry said, "I spend 99% of my life traveling the world by commercial. Occasionally there needs to be an opportunity based on a unique circumstance to ensure my family are safe, and it's genuinely as simple as that." He added, "For me it's about balance."

Prince Harry and Meghan Markle also pay for their own security.

Prince Harry, Duke of Sussex and Meghan, Duchess of Sussex lay ferns and a wreath at the tomb of the Unknown Warrior at the newly unveiled UK war memorial and Pukeahu National War Memorial Park, on October 28, 2018, in Wellington, New Zealand. The Duke and Duchess of Sussex are on their official 16-day Autumn tour visiting cities in Australia, Fiji, Tonga and New Zealand.
Meghan Markle and Prince Harry.Rosa Woods - Pool/Getty Images

However, the couple is currently fighting for official police protection while in the United Kingdom.

"The Duke and Duchess of Sussex personally fund a private security team for their family, yet that security cannot replicate the necessary police protection needed whilst in the UK," according to a statement released in January 2022.

Meghan and Harry appeared to receive official royal security protection when they traveled to the UK for Prince Philip's and later Queen Elizabeth II's funerals.

Read the original article on Insider