Prince Harry and Meghan Markle are planning a return to the United Kingdom, a move reportedly influenced by substantial financial outlays that are outpacing their income. Sources close to the couple suggest that while they are not without funds, their extensive expenses have created a significant cash flow challenge.
Their expenditures include maintaining their $14.5 million Montecito, California mansion, which involves two mortgages, costs for household staff, and upkeep of a vacation home in Portugal. Additionally, their security detail alone is estimated to cost around $3 million annually. Insiders indicate that their combined outflow of money is so considerable that "anything that comes in instantly goes out."
To manage these costs, the Sussexes have reportedly reduced their staff significantly, from an estimated 17-18 employees to just four full-time members, excluding spokespeople. Their lifestyle in the U.S. is said to require at least $6 million per year.
Meghan Markle's lifestyle brand, "As Ever," is reportedly performing well and will continue to operate from Britain. However, the couple also faces a substantial legal bill following Prince Harry's unsuccessful privacy lawsuit against Associated Newspapers. While the final costs are pending, Harry could be liable for approximately $2.6 million. This potential financial burden has led to speculation about whether they might sell their Montecito home, though sources indicate they currently plan to keep it.
Their previous high-profile business ventures have yielded significant income, including an estimated $100 million from book deals and contracts with Netflix and Spotify. Prince Harry's memoir, "Spare," alone reportedly earned him $20 million from Penguin Random House. Their Netflix deal, initially reported as $100 million, is understood to have been closer to $60 million, with a large portion allocated to production overhead. Their Spotify deal concluded after one season of Markle's podcast, "Archetypes."
The couple has also restructured their Archewell Foundation, renaming it Archewell Philanthropies and outsourcing administrative operations, after letting most of its staff go. Their U.S.-based staff will continue to work remotely.
Prince Harry has previously spoken about financial difficulties, notably telling Oprah Winfrey in 2020 that the royal family had "literally cut me off financially," and that he relied on inheritance from his mother, Princess Diana. However, official reports from Clarence House indicated that King Charles provided financial support from his Duchy of Cornwall to both Prince Harry and Prince William in the period of April 2020 to March 2021.
Sources have also indicated that the move to the UK is partly motivated by a desire to spend more time with King Charles, who is undergoing cancer treatment, and other family members. Prince Harry has publicly expressed concerns about his father's health, stating last May, "I don’t know how long my father has left."