Prince Harry and Meghan Markle made headlines in 2020 when they announced their decision to step back from their roles as senior members of the British Royal Family. Their departure, dubbed ‘Megxit’, led to widespread speculation about their reasons and how they would support themselves financially outside the royal system.
Why Did They Leave the Royal Family?
Harry and Meghan cited several reasons for their exit, including media pressure, lack of privacy, and concerns over their treatment within the royal institution. Meghan, in particular, faced intense scrutiny from British tabloids, which she described as damaging to her mental health. In a public interview, Harry expressed his fears of history repeating itself, referencing the media’s role in his mother Princess Diana’s tragic fate.
Additionally, the couple sought greater independence to pursue their own projects without the constraints of royal duties. They officially stepped down in early 2020 and relocated to North America, later settling in California.
Where Do They Get Their Money?
After leaving the royal family, Harry and Meghan became financially independent. They no longer receive funding from the Sovereign Grant, the taxpayer-funded source that supports working royals. Instead, they have built their income through various ventures, including:
- Media Deals: The couple signed a multimillion-dollar contract with Netflix to produce documentaries, films, and TV shows. They also had a Spotify podcast deal, though it ended in 2023.
- Book Sales: Harry’s memoir, Spare, became a bestseller, reportedly earning him a $20 million advance.
- Public Speaking Engagements: They deliver high-profile speeches and participate in events through agencies like the Harry Walker Agency.
- Archewell Foundation: Their nonprofit organisation also engages in partnerships that align with their personal and business interests.
Despite their royal exit, Harry and Meghan remain high-profile figures, leveraging their influence to build a financially secure and independent life. Their journey continues to spark debate, with supporters praising their courage while critics question their motives.
