NEED TO KNOW
- Prince Harry and Meghan Markle are reportedly under growing financial pressure.
- The couple is said to be dealing with mounting expenses at their Montecito mansion.
- Their lucrative Netflix and Spotify deals have now ended.
- Meghan’s As Ever lifestyle brand is believed to be key to their future income.
- Sources claim money stress is causing tension behind closed doors.
The Duke and Duchess of Sussex marked their recent eighth wedding anniversary with a flurry of social media activity.
The loved-up posts strived to suggest that all was well in the marriage, but, according to a source close to the couple, “that is not the case right now.”
New Idea understands the financial pressures Prince Harry, 41, and Meghan, 44, are under are increasing and causing intense strain in their marriage.
“It’s not a secret that money is a huge issue for them right now,” our insider says. “They have significant financial commitments and their income stream – now that their lucrative Netflix and Spotify deals are over – is far from what it was.
“It’s a low point in their marriage and, while they’re highly unlikely to pull the trigger and divorce, the fact remains that they couldn’t afford to split, even if they wanted to.”
In 2020, Harry and Meghan took out a $13.3 million mortgage in order to purchase their $21 million Montecito mansion. They also have significant home maintenance and security expenses to worry about.
“Harry’s ongoing legal case against the publishers of the Daily Mail in the UK is also costing a fortune in legal fees,” our source says.
Meanwhile, Meghan’s As Ever lifestyle brand is not yet thought to have generated significant income for the family coffers.
“Harry and Meghan recently cut down their full-time staff from 16 people to five,” our source says. “You don’t do that unless you’re watching the bottom line.”
While the couple still has a sizable fortune – in the region of $80 million at their disposal – their high-cost lifestyle and diminishing earning capacity are beginning to bite. This could, in part, explain why we’re seeing more of the couple’s children – Prince Archie, seven, and Princess Lilibet, who turns five on June 4 – despite Harry’s reservations.
“Meghan knows that involving the kids in her social media posts is good for her brand, but Harry bristles at the photo ops, like the family’s recent outing to Disneyland,” our source adds. “The problem is, sharing her family life is part of the deal if Meghan wants to put money into their bank account, so Harry just has to accept that it’s going to happen whether he likes it or not.”
But it alone won’t be enough to bolster the couple’s bank balance.
“A lot is riding on the success of As Ever’s product range,” our source says.
Despite their meltdowns over money, Meghan especially knows that appearances are important, so giving the impression that everything is fine is her default setting.
“That’s why we got the over-the-top acknowledgment of their anniversary,” our source adds. “Things are difficult at the moment, but they’ll stay the course.”
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