In the latest royal gossip, Buckingham Palace is concerned about Prince Harry and Meghan Markle's spending habits. Royal experts and commentators claim there's no way their lifestyle doesn't cost them $20 million a year. Royal expert Matt Wilkinson has already pointed to the royal family's “huge spending, security, mortgages, everything”. He also said the findings led him to believe that the Duke and Duchess of Sussex were “obsessed with security” and did not want to live in a smaller home.
The “senior royals” still being tracked by Buckingham Palace have been living in a luxurious mansion in Montecito, California since 2020. As you can imagine, the expenses involved are no small feat. And their hefty private security bills are on top of that.
Royal expert reveals Prince Harry and Meghan Markle's spending habits
Ms Wilkinson also revealed that Prince Harry had received funding from Spotify and that the couple still had to pay a $9 million mortgage. Additionally, “he was also making money from Netflix.”
Also read: Prince Harry's lawyer seeks $2.5 million from British publisher over phone hacking scandal
The couple's greedy spending habits trouble the palace. Mr Wilkinson reported: “Beyond the walls of Buckingham Palace, there is fear about what will happen if the money runs out.'' This automatically means that Prince Harry will have to look for other ways to make ends meet.
In addition, royal commentator Katie Nicholl also revealed further points about the spending issue. In a conversation with another source, she learned that it would be impossible to live in Montecito “without it costing about $20 million a year.”
Where does the Sussexes' money come from?
Meghan Markle and Prince Harry reportedly signed a $100 million deal with Netflix in 2020. This added its first partnership with Spotify, until the streaming app cut ties last year.
That's not their only problem. According to a new report, even Netflix isn't happy with the five-year deal. There is a very high possibility that the contract will not be renewed even when it expires in 2025.
However, chief content officer Bela Bajaria denied these claims and confirmed that the two are indeed working on quite a lot of content. These projects, which are said to be “in very early stages of development,” include unscripted content, movies, and television shows.
Even with these projects in development, their company, Archewell, remains at risk of bankruptcy. In addition to employees leaving the company, the Mirror also reported that Prince Harry and Duchess Meghan “work just one hour a week at Archewell,” setting a bad precedent for employees.
