How Will Meghan Markle and Prince Harry Earn Money?
The Duchess of Sussex isn't likely to return to Suits...
Update 1/18: The Queen and Buckingham Palace released statements finalizing Prince Harry and Meghan Markle's decision to step back from royal duties. According to Buckingham Palace's announcement, Harry and Meghan "will no longer receive public funds for Royal duties." The couple has also expressed interest in repaying "Sovereign Grant expenditure for the refurbishment of Frogmore Cottage, which will remain their UK family home."
Prince Charles will continue to "privately fund" the couple for the time being.
Prince Charles will continue to offer “private financial support” to Harry & Meghan but apparently it MAY not be Duchy money. Unclear at this stage. Also unclear if SussexRoyal can still stand as H&M’s Branding. We think not, but still no official guidance on that.January 18, 2020
Original post: Today, the Duke and Duchess of Sussex announced their plan "to step back as ‘senior’ members of the Royal Family and work to become financially independent," which of course raises many questions about what exactly this all means, including one big one: If they're cut off from the Royal Family funds, where will their money come from?
Despite jokes on Twitter about Meghan Markle reprising her role on Suits (hey, they're probably moving back to Canada where Markle lived while the show was filmed!), that's likely not happening. But this is a HUGE change. Right now the Sussexes don't earn an income—in fact, they're prohibited from it. As the official Sussex Royal page explains, "Under the current structure and financing arrangements, they are prohibited from earning any income in any form." This applies to their charitable work as well.
This, however, does not apply to all members of the royal family. Some, like Princess Beatrice, hold or have held more traditional jobs that pay an outside income. As Royal Sussex site notes, "there is precedent for this structure and applies to other current members of the Royal Family who support the monarch and also have full time jobs external to their commitment to the monarchy." This is the model the Sussexes plan to adopt.
"The Duke and Duchess of Sussex take great pride in their work and are committed to continuing their charitable endeavours as well as establishing new ones. In addition, they value the ability to earn a professional income, which in the current structure they are prohibited from doing," the Sussex Royal site explains. "For this reason they have made the choice to become members of the Royal Family with financial independence. Their Royal Highnesses feel this new approach will enable them to continue to carry out their duties for Her Majesty The Queen, while having the future financial autonomy to work externally. While the contribution from The Sovereign Grant covers just five percent of costs for The Duke and Duchess and is specifically used for their official office expense, Their Royal Highnesses prefer to release this financial tie."
And this is the key element: It seems that "becoming financially independent" specifically means the Duke and Duchess will no longer receive funding through the Sovereign Grant, which comes from British taxpayers. "The Sovereign Grant is the annual funding mechanism of the monarchy that covers the work of the Royal Family in support of HM The Queen including expenses to maintain official residences and workspaces. In this exchange, The Queen surrenders the revenue of the Crown Estate and in return, a portion of these public funds are granted to The Sovereign/The Queen for official expenditure."
Stay In The Know
Get exclusive access to fashion and beauty trends, hot-off-the-press celebrity news, and more.
But! As noted before, The Sovereign Grant covers just five percent of operating costs for The Duke and Duchess—the other 95 percent of their living comes from The Duchy of Cornwall, which is run by Harry's father, Prince Charles. The Duchy of Cornwall is a private estate established by Edward III in 1337. "The revenues from the estate are passed to HRH The Prince of Wales and Duke of Cornwall, who chooses to use them to fund his public, charitable and private activities and those of his family," the official Duchy of Cornwall site states. "The Duchy consists of around 53,000 hectares of land in 23 counties, mostly in the South West of England. The principal activity of the Duchy is the sustainable, commercial management of its land and properties. The Duchy also has a financial investment portfolio."
So! The short answer to how Prince Harry and Meghan Markle will continue to have an income is: The Duchy of Cornwall. Right now there's no indication that Prince Charles will curtail the funds that go to "private activities and those of his family" as it applies to the Sussexes.
For more stories like this, including celebrity news, beauty and fashion advice, savvy political commentary, and fascinating features, sign up for the Marie Claire newsletter.
Related Stories
Sally is the Editor in Chief of Marie Claire where she oversees coverage of all the things the Marie Claire reader wants to know about, including politics, beauty, fashion, and celebs. Holmes has been with Marie Claire for five years, overseeing all content for the brand’s website and social platforms. She joined Marie Claire from ELLE.com, where she worked for four years, first as Senior Editor running all news content and finally as Executive Editor. Before that, Sally was at NYMag.com's the Cut and graduated with an English major from Boston College.
-
Princess Diana's Wedding Dress Designers Settle Legal Dispute Over Her Gown Sketches
The former husband-and-wife team went to court over the famous design.
By Kristin Contino Published
-
These Ladylike Fall Trends Channel Jackie Kennedy's Elegance
The former First Lady is the undeniable muse of the season.
By Emma Childs Published
-
Jennifer Lopez Is Back—and So Is a Meaningful Blouse
The star is reinventing a familiar staple.
By Kelsey Stiegman Published
-
Fans Can’t Get over Prince Harry’s Seriously Impressive Surfing Skills in New Video: “In His Season of Joy”
He's a true Californian now.
By Kristin Contino Published
-
Royal Expert Claims Princess Kate is Done "Playing Peacemaker" With King Charles, Prince Harry and Prince William
"She did try over a period of years and finally threw up her hands in disgust."
By Kristin Contino Published
-
How Taylor Swift Has Entered the Chat When It Comes to Prince Harry's Security
One royal commentator said there was a "double standard" when it came to police protection in the U.K.
By Kristin Contino Published
-
Meghan Markle Has Offered to "Help" Her 'Suits' Costars With Their Rewatch Podcast
"It's lovely to still have that kind of support and friendship after so many years apart."
By Amy Mackelden Published
-
Prince Harry Reveals One Thing Prince Archie and Princess Lilibet Share With Mom Meghan Markle
Lucky kids.
By Kristin Contino Published
-
King Charles Wants Prince William and Prince Harry to "Get Along" Before His 75th Birthday
"He wants to draw a line under their past feuds."
By Amy Mackelden Published
-
Meghan Markle and Prince Harry Have "Hit Their Stride" at Work and at Home
"It's as much a reflection on parenting priorities."
By Amy Mackelden Published
-
How Princess Diana's Sisters Have Remained Close to Prince Harry and Prince William
"The aunts looked thrilled to see their warring nephews."
By Amy Mackelden Published