Meghan & Harry ‘face long-term financial challenge’ as career relaunch flops – while Wills’ gets to work on £1bn estate
MEGHAN Markle and Prince Harry are facing a “long-term financial challenge” after stepping back as senior royals, claims a royal author.
This follows the Duke and Duchess of Sussex’s £18million Spotify deal being axed last year, after the couple created 13 episodes in 31 months.
When Meghan and Harry left royal duties, they insisted they wanted to become “financially independent.”
However, they now have an £12.8million Californian mansion to upkeep, which they are said to have taken out a £8.3million mortgage on.
Meanwhile, their Archewell foundation showed a large drop in donations last year.
Speaking to Closer, Tom Bower pointed out: “I think they are facing long-term, not immediately, but long-term financial challenges and they haven’t been able to reconcile that.”
Meanwhile, Prince William has taken on a new role since the Queen’s death.
King Charles handed over a property portfolio worth £1 billion to his son William when he took over the Duchy of Cornwall, along with the title Prince of Wales.
The inheritance has made the new Prince of Wales the biggest private landowner in Britain – owning land across 20 counties in England and Wales.
Much of the estate comprises farmland, but it also includes homes and commercial properties, forests, rivers, coastline and around a third of the Dartmoor national park, which was once used for mining minerals such as tin and copper.
Tom said the Duke and Duchess of Sussex now chasing some big-name deals, with Meghan ‘desperate for an endorsement from Dior’.
Christian Dior is one of the most famous names in fashion and has been strongly associated with many members of the Royal Family in the past.
In June 2023, it was reported that Meghan was in talks about taking on a deal with the French fashion house, but sources close to the royals said no contract has been inked.
It was reported that Meghan “lost out” on the opportunity of a lucrative Dior job to a Kate Middleton actress.
It was revealed in November 2023, that Meg Bellamy, 21, who plays a young Kate Middleton in season six of the hit royal drama The Crown is to be the new face of Dior.
The Duke and Duchess of Sussex have had help to support themselves with Prince Harry’s £7.8million inheritance from his mother, Princess Diana.
The couple signed a deal with Netflix through their production company, Archewell Productions, and have since released Harry And Meghan and Heart Of Invictus.
Harry is also said to have “scored £16million advance” for his Spare bombshell memoir.
However, the Duke and Duchess of Sussex are said to be hoping for a fresh start this year following the backlash of these projects.
Royal expert Phil Dampier told Fabulous that “redemption” is unlikely for the Sussexes.
It’s thought the couple may move home from Montecito to get themselves closer to Hollywood.
A source told US Weekly: “Harry and Meghan think 2024 will be the year of redemption” – with Meghan apparently turning down offers of work “left, right and centre” and Harry also in “extremely high demand”.
And Meghan has enlisted Beverly Hills talent agency William Morris Endeavour ahead of her long-planned relaunch in the New Year.
The source added: “They’ve actually been shocked by how popular she is. Her team has never seen anything like it.”
They claim she is being approached about everything from film roles to multi-million-dollar endorsement deals with major brands.