MEGHAN MARKLE and Prince Harry fled the UK for North America earlier this year in pursuit of a new life separate of the Royal Family. Where do the Sussexes get their money?
Meghan Markle and Prince Harry fled the UK for North America last year in a bid for independence from the Royal Family following the birth of their son Archie Mountbatten-Windsor. Their decision sparked worldwide shock, and for the Sussexes means adjusting to a life without a predetermined protocol and a new source of income.
The Sussex exodus, known colloquially as Megxit, saw the couple relocate to Canada with their young son Archie Harrison Mountbatten-Windsor.
Previously, they had existed under the protective wings of the Royal Family, which, coupled with taxpayer money, facilitated their lifestyle.
Buckingham Palace later announced the Duke and Duchess of Sussex would “no longer receive public funds for royal duties”.
Meghan Markle and Prince Harry work: Where do Sussexes get their money from amid Megxit? (Image: GETTY)
Meghan Markle and Prince Harry work: Meghan Markle and Prince Harry decided to leave the UK for increased privacy (Image: GETTY)
Previously, 95 percent of their income came from Prince Charles’ Duchy of Cornwall, according to the Sussexes website.
Formerly, this would have funded their royal duties, and the remaining five percent of their money would have come from the Sovereign Grant.
The Government-funded grant covers expenses for royal duties and is worth an estimated £82.4 million.
Their independence won’t leave them penniless, however, as pundits believe both Prince William and Prince Harry have amassed vast personal fortunes.
Meghan Markle and Prince Harry work: Meghan Markle and Prince Harry can no longer take the sovereign grant (Image: GETTY)
The brothers inherited the bulk of their mother, Princess Diana’s £13 million fortune.
BBC royal correspondent Nick Witchell added Prince Harry would also have received millions from his great-grandmother the Queen Mother.
The Duchess of Sussex has also attracted a considerable sum, earning an estimated $50,000 (£38,000) for each of her appearances on legal drama Suits.
She also ran successful lifestyle blog The Tig and designed her own clothing brand.
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Meghan Markle and Prince Harry work: The Sussexes could make a good income by just appearing publicly (Image: GETTY)
Now they are free to earn their way in the world, and royal experts have identified several ways they could make money.
Chief amongst them is their personal brand, as while they can no longer use Sussex Royal, they still exist as public figures of note.
When they eventually launch a new Instagram account, the couple could earn an estimated $110 million (£86 million) from sponsored posts according to influencer marketers Klear.
They could also make a pretty penny from simply appearing at events.
The Daily Mail reported they earned between $500,000 and $1 million (£394,000 to £750,000) attending an event at JP Morgan earlier this year.
Experts believe a tell-all book or future film and television appearances from the Duchess of Sussex could earn her a premium as well.
In 2019 it emerged the couple also attempted to trademark the Sussex Royal brand, which extended to potential merchandise.
While they can no longer make use of the brand, clothes, or other items bearing their mark could make a lucrative partnership for them.
People have identified the “Markle sparkle” as a money maker with “unique global appeal”.
Source: EXPRESS CO UK