On the recent three-day visit to Nigeria with her husband Prince Harry, the Duchess of Sussex, Meghan Markle, impressed, also inadvertently bringing local fashion to the spotlight.



She had joined the Duke of Sussex to the West African country to promote Invictus Games, a multi-sport event empowering serving military members and veterans to overcome physical and mental challenges.



During an event for leading Nigerian women leaders in Abuja, moderated by media mogul Mo Abudu, Markle was on stage, alongside Ngozi Okonjo-Iweala, the Director-General of the World Trade Organization (WTO), wearing a bright red dress from Oriré (meaning good luck in Yoruba), a bespoke women’s clothing brand, perhaps as a nod to her Nigerian heritage.



Known as the Dire Dress, priced at ₦255,000 ($173), the strappy mid-length outfit quickly went viral on social media.



Perhaps struggling to keep up with the demand, the brand issued a statement on Instagram: &#8220;We are experiencing some downtime on the website due to unanticipated volume of traffic. Our team is working on getting it back up as soon as possible. Thank you for your patience.&#8221;



As of now, the online store is back up, with the Dire Dress available for pre-order only.



While on tour, the royal couple also visited the Lightway Academy in the Federal Capital Territory of Abuja, where they interacted with children and learned about the institution&#8217;s initiatives.



At the Nigeria Unconquered charity in the same city, the Prince engaged in a game of sitting volleyball with army veterans, as Markle watched from the sidelines. He also spent time with wounded and injured Nigerian service members at the 44 Nigerian Army Reference Hospital in Kaduna, Northern Nigeria.



&#8220;It’s about looking at the bigger picture – promoting social causes and impacting lives,&#8221; Nigerian analyst Damilare Asiwaju shares with FORBES AFRICA. &#8220;Nigeria right now is going through one of the most difficult times in history and a little bit of social welfare engagement would do no harm.&#8221;



&#8220;Be it the organizing of the charity sporting event for veterans living with disabilities to try and give them a life back or the co-hosting of a women’s leadership event where the advocacy for gender equality was brought to the fore or the inspirational heartwarming discussions with young students, Nigeria didn’t just roll out a red carpet for the Duke and Duchess of Sussex just for public fanfare alone, we benefited from the benevolence of two &#8216;private individuals&#8217; who have dedicated their lives to make the underprivileged &#8216;royalty&#8217; too.&#8221;

The Duke and Duchess of Sussex Visit Nigeria – Day 2

Meghan Markle Sparkles On Nigeria Tour With Prince Harry

TOPLINE Speaking to Oprah Winfrey on their new Apple TV+ program about mental health, Prince Harry said the royal family met “every single ask, request, warning” for help with harassment he and wife Meghan faced in the press and on social media with “silence or total neglect,” building on revelations from a bombshell interview with Winfrey earlier this year where Meghan revealed she suffered from suicidal thoughts and was refused help from the royal establishment.



<h4 class="wp-block-heading" id="h-key-facts">KEY FACTS</h4>



Prince Harry&nbsp;<a href="https://www.telegraph.co.uk/royal-family/2021/05/21/prince-harry-accuses-royal-family-total-neglect-bullying-apple/" target="_blank" rel="noreferrer noopener">said</a>&nbsp;he “felt completely helpless” with the attention he and Meghan were getting in the press and on social media, spending four years “trying to make it work” as members of the royal family,&nbsp;



The revelations, reported on by multiple outlets, were made on his newly released mental health documentary&nbsp;<a href="https://tv.apple.com/us/show/the-me-you-cant-see/umc.cmc.4amwght1qtt8ioilwr0mgnf6d" target="_blank" rel="noreferrer noopener">series</a>&nbsp;with Winfrey titled, “The Me You Can’t See.”



The Prince, sixth in line to the throne,&nbsp;<a href="https://www.theguardian.com/uk-news/2021/may/21/prince-harry-charles-trauma-diana-death-oprah-meghan-markle-" target="_blank" rel="noreferrer noopener">said</a>&nbsp;his family did not discuss his mother’s death (he was 12 at the time) and expected he and his brother to just deal with the resulting distress and press attention.



He said his father, Prince Charles, told him that because he suffered when he was younger, that is how it would be for him and brother William.



Prince Harry, who&nbsp;<a href="https://www.bbc.co.uk/news/uk-57187138" target="_blank" rel="noreferrer noopener">revealed</a>&nbsp;he turned to drink and drugs as an adult in order to cope with the trauma of his mother’s death, said he was told to “play the game” to make his life easier and that he felt “bullied into silence.”



Harry&nbsp;<a href="https://news.sky.com/story/harry-accuses-royal-family-of-total-silence-and-neglect-in-documentary-12312388" target="_blank" rel="noreferrer noopener">said</a>&nbsp;therapy, which he began four years ago, has been helping him “take on anything.”



<h4 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h4>



Prince Harry said the deterioration of he and his wife’s mental health was one of “the biggest reasons” they&nbsp;<a href="https://www.forbes.com/sites/roberthart/2021/02/19/harry-and-meghan-will-not-return-as-working-members-of-britains-royal-family/?sh=1ff86117658c">stepped away&nbsp;</a>from the royal family and that he felt ashamed he could not go to his family when Meghan was feeling suicidal. He said they were “feeling trapped and feeling controlled through fear, both by the media and by the system itself which never encouraged the talking about this kind of trauma.”



<h4 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h4>



Apple TV’s The Me You Can’t See, made up of five episodes, is airing on Friday 21 May. Oprah and Prince Harry are set to&nbsp;<a href="https://twitter.com/scobie/status/1395414173824258053?s=20" target="_blank" rel="noreferrer noopener">appear</a>&nbsp;on Good Morning America Friday to discuss the series.&nbsp;



<h4 class="wp-block-heading" id="h-tangent">TANGENT</h4>



Both Prince William and Prince Harry issued statements&nbsp;<a href="https://www.forbes.com/sites/carlieporterfield/2021/05/20/princes-william-and-harry-slam-deceitful-bbc-interview-with-princess-diana/?sh=3295be8a2fc2">excoriating the press’ treatment</a>&nbsp;of their late mother, Princess Diana, Thursday after an&nbsp;<a href="https://www.bbc.co.uk/news/uk-57189371" target="_blank" rel="noreferrer noopener">independent investigation</a>&nbsp;outlined a multitude of moral and professional failings over BBC reporter Martin Bashir’s famous 1995 interview with the royal. Prince Harry said the “ripple effect” from the British media’s “culture of exploitation” led to his mother’s death and, worryingly, has not changed since. “Our mother lost her life because of this, and nothing has changed,” he said, who&nbsp;<a href="https://www.forbes.com/sites/isabeltogoh/2020/03/09/meghan-and-harry-mark-final-duty-with-the-queen-before-they-bow-out-as-senior-royals/">stepped away from royal life</a>&nbsp;in part due to the way the British media treated his wife, Meghan, the Duchess of Sussex.&nbsp;



<h4 class="wp-block-heading" id="h-further-reading">FURTHER READING</h4>



<a href="https://www.forbes.com/sites/carlieporterfield/2021/05/20/princes-william-and-harry-slam-deceitful-bbc-interview-with-princess-diana/?sh=3295be8a2fc2">Princes William And Harry Slam ‘Deceitful’ BBC Interview With Princess Diana</a>&nbsp;(Forbes)



<a href="https://www.theguardian.com/uk-news/2021/may/21/prince-harry-charles-trauma-diana-death-oprah-meghan-markle-" target="_blank" rel="noreferrer noopener">Prince Harry says trauma of Diana’s death led him to use alcohol and drugs</a>&nbsp;(Guardian)



<a href="https://www.forbes.com/sites/roberthart/2021/02/19/harry-and-meghan-will-not-return-as-working-members-of-britains-royal-family/?sh=1ff86117658c">Harry And Meghan Will Not Return As Working Members Of Britain’s Royal Family</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/siladityaray/2021/03/08/devastating-allegations-british-press-reacts-to-harry-meghan-interview-with-oprah/?sh=6ccc52d057ab">‘Devastating Allegations’: British Press Reacts To Harry-Meghan Interview With Oprah</a>&nbsp;(Forbes)

Global Citizen VAX LIVE: The Concert To Reunite The World

Prince Harry Accuses Royal Family Of ‘Total Neglect’ In New Apple TV Series

Now that they’ve left their life as full-time working Royals, the Duke and Duchess of Sussex are tapping into their celebrity status to make money and bolster what they currently have.



By Dawn Chmielewski, Forbes Staff



Now that Prince Harry and Meghan Markle have completed their Hollywood transition, the couple is entering an uncharted new chapter in life now that they won’t be returning as full-time working members of the British royal family. No diplomatic formalities. No government security detail. And no royal patronage.



Up until last year, Harry’s father, the Prince of Wales, covered the majority of the expenses associated with their royal duties, including staff and travel, through the Duchy of Cornwall, which&nbsp;Forbes&nbsp;estimates amounted to about $800,000 a year. The Crown paid for more than $3 million for renovations underway at Frogmore Cottage before it became their family home in the U.K. They voluntarily repaid the sum in September with a contribution to the Sovereign Grant.&nbsp;



That’s left them with the<a href="https://www.instagram.com/p/B7EaGS_Jpb9/" target="_blank" rel="noreferrer noopener">&nbsp;progressive new life</a>&nbsp;they want but also the kind financial uncertainty—a former royal’s version of it, at least—of recent college graduates who’ve just left home to embark on the independence of adulthood. His older brother and future king, Prince William, covers expenses with help from the Duchy of Cornwall, which in the last fiscal year spent about $8 million to support the public, charitable and personal activities of Prince Charles and his immediate family.



Prince Harry spoke about his withdrawal from official Royal duties with fellow Brit James Corden on&nbsp;The Late Late Show&nbsp;yesterday—a week after Buckingham Palace released a&nbsp;<a href="https://www.royal.uk/buckingham-palace-statement-duke-and-duchess-sussex" target="_blank" rel="noreferrer noopener">statement</a>—but he took issue with Corden’s depiction of him “walking away” from the family. “It was never walking away; it was stepping back rather than stepping down,” said the Duke, saying he decided to leave to escape a relentless press. “We all know what the British press can be like and it was destroying my mental health. This is toxic. So I did what any husband, what any father, would do. I need to get my family out of here.”



His late mother, Princess Diana, who famously died in a car crash after being chased by paparazzi, made the move possible. With financial support from the Crown abruptly shut off, the relocated royals have relied largely on the estimated $10 million inheritance Harry received from his late mother’s estate. Contrary to published reports, a representative confirms he was not a beneficiary of any of the nearly $100 million (£70 million) fortune left by his great-grandmother, the Queen Mother. Meghan Markle contributed an estimated $2 million in after-tax earnings from her work in films and television shows, most notably the long-running legal drama&nbsp;Suits.&nbsp;



They bought a $14.7 million estate in Montecito, the seaside Santa Barbara, California, enclave that’s home to such Hollywood celebrities as Oprah Winfrey and Ellen DeGeneres and wife Portia de Rossi, in August 2020. They put down $5 million and now have a nearly $10 million mortgage. The Duke and Duchess also repaid the Sovereign Grant for the $3 million spent to remodel Frogmore, which remains their UK family home. That leaves Prince Harry and Meghan with a surprisingly modest nest egg of roughly $5 million—at least for now. Their estimated net worth, including the equity from their Montecito home, is roughly $10 million.&nbsp;<a href="https://www.forbes.com/sites/daviddawkins/2020/09/25/the-queen-and-the-royal-family-face-44-million-shortfall-but-palace-claim-no-intention-of-asking-public-for-more-money/?sh=475a8e6c4bde">The Queen</a>&nbsp;has a net worth of $500 million, according to the last tally by&nbsp;Forbes&nbsp;in 2019, while the combined value of the British Monarch’s holdings with the Crown Estate, the Duchy of Lancaster (a real estate trust), were worth an estimated $25&nbsp;billion.



The Prince and his American wife want to dedicate their life to helping others and improving the world. “My life is always going to be about public service, and Meghan signed up to that,” Prince Harry told Corden. But they also have to pay the bills, and thanks to their global celebrity and cachet, Hollywood is only happy to capitalize, helping to cushion the financial blow.



Earlier in the week, they touted their partnership with Spotify during a livestreamed event that also featured Justin Bieber, Billie Eilish, Bruce Springsteen, Barack Obama and Ava DuVernay. The Duke and Duchess plan to produce podcasts and shows that “elevate voices that maybe aren’t being heard” exclusively for the streaming service’s 320 million monthly users around the world.



Spotify’s three-year podcasting deal with Prince Harry and Meghan could be worth as much as $15 million to $18 million, according to industry sources. It’s unknown whether the streaming music service has begun writing checks, however, since the first podcast from Archewell Audio is likely to take at least a year to develop. But when the checks arrive, it would add around $3.5 million a year to their coffers, after taxes.



The couple had begun to tentatively trod Hollywood’s red carpet long before their move to California. Prince Harry and Oprah Winfrey announced in April 2019 that they would executive produce a mental health series for Apple TV+. The series, which was caught up in the pandemic’s production delays, is an extension of the Duke’s long-standing work in this area, in which he has candidly shared details of his own experience of loss. Deal terms could not be determined.&nbsp;&nbsp;



Speaking engagements are another potential avenue for them.&nbsp;Prince Harry spoke at a private JPMorgan summit in Miami in February 2020, which reportedly fetched $1 million. Last June, they retained the New York-based Harry Walker Agency to drum up speaking engagements. It’s the same agency that represents the Obamas, Bill and Hillary Clinton, Lin-Manuel Miranda and Stacey Abrams.



Perhaps the biggest potential moneymaker for them: a lucrative five-year, $100 million contract with Netflix, signed in September 2020, to produce documentaries, docuseries, feature films, scripted shows and children’s programming. It’s unclear whether Prince Harry and Meghan received an advance on the deal, which is likely to contribute handsomely to their net worth down the road. But the streaming service recognizes its subscribers’ fascination with the British royal family. Netflix renewed&nbsp;The Crown,&nbsp;a hit drama about the reign of Queen Elizabeth II,&nbsp;for a sixth and final season last fall.&nbsp;



The Duke and Duchess of Sussex also will sit for an extended interview with Oprah Winfrey that airs at 8 p.m. EST Sunday, March 7, on CBS, where Meghan is expected to discuss such topics as “stepping into life as a royal,” a topic bound to stir unease behind the gates of Buckingham Palace, and Prince Harry will later join the two to discuss the move to the United States and his hopes for their expanding family.&nbsp;

Commonwealth Day 2020

How Much Are Prince Harry And Meghan Markle Worth? Surprisingly, Not That Much

TOPLINE Prince Harry appeared on an episode of James Corden’s ‘The Late Late Show’ that aired early on Friday, where he said he never walked away from the British royal family but he had to step back as the “toxic” British press was having an impact on his mental health, just a week after he and his wife Meghan Markle announced they will not be returning as working members of the Royal Family.



<h3 class="wp-block-heading" id="h-key-facts">KEY FACTS</h3>



The&nbsp;<a href="https://www.youtube.com/watch?v=7oxlCKMlpZw&amp;feature=youtu.be" target="_blank" rel="noreferrer noopener">free-wheeling chat</a>&nbsp;featured Corden and Harry riding on an open top bus in Los Angeles, visiting the house from ‘The Fresh Prince of Bel-Air’ and both of them running an obstacle course.



Besides the light-hearted segments, Harry opened up about his family’s decision to not return as working royals, clarifying, “It was never walking away,” and adding that he and Meghan were “stepping back rather than stepping down.”



Harry opened up about facing a “really difficult environment” and blamed the “toxic” British press for “destroying” his mental health.



The Duke of Sussex then noted that he did what any husband or father would do and finally made the decision that “I need to get my family out of here.”



<h3 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h3>



Harry reiterated that he never walked away, stating: “And as far as I’m concerned, and whatever decisions are made on that side, I will never walk away. I will always be contributing. But my life is public service. So wherever I am in the world it’s going to be the same thing.”



<h3 class="wp-block-heading" id="h-tangent">TANGENT</h3>



Harry, who has secured a <a href="https://www.forbes.com/sites/elanagross/2020/09/02/prince-harry-and-meghan-markle-sign-exclusive-netflix-deal/?sh=10ac5c0f6071">lucrative deal</a> with Netflix along with his wife Meghan, the Duchess of Sussex, was asked about the streaming service’s historical drama series ‘The Crown’ which portrays his grandmother Queen Elizabeth and the rest of his family. Harry said the show doesn&#8217;t “pretend to be news, it&#8217;s fictional. But it&#8217;s loosely based on the truth.” While noting that the show was not “not strictly accurate,” Harry said it gives people a rough idea about the lifestyle and “the pressures of putting duty and service above family and everything else and what can come from that.”



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<iframe loading="lazy" title="An Afternoon with Prince Harry &amp; James Corden" width="500" height="281" src="https://www.youtube.com/embed/7oxlCKMlpZw?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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<h3 class="wp-block-heading" id="h-surprising-fact">SURPRISING FACT</h3>



Harry also revealed that the Queen gifted his one-year-old son a waffle maker for Christmas.



<h3 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h3>



Last week Buckingham Palace&nbsp;<a href="https://www.forbes.com/sites/roberthart/2021/02/19/harry-and-meghan-will-not-return-as-working-members-of-britains-royal-family/?sh=47f1e91f658c">announced</a>&nbsp;that Harry and Meghan—the Duke and Duchess of Sussex—would not be returning as working members of the Royal Family a year after stepping down as senior royals. The announcement followed a year-long review in which the couple first moved to Canada and then to the U.S. Both have stopped using Royal HRH titles and they will be returning all honorary military appointments and Royal patronages held by them to the Queen. In the past year the two of them have managed to secure&nbsp;<a href="https://www.forbes.com/sites/elanagross/2020/12/15/prince-harry-and-meghan-markle-sign-exclusive-spotify-podcasting-deal/?sh=3f2c45e11547">deals</a>&nbsp;with Netflix and Spotify.



<h3 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h3>



Both Harry and Meghan will appear in an&nbsp;<a href="https://www.oprahmag.com/entertainment/a35509244/oprah-meghan-markle-prince-harry-interview/" target="_blank" rel="noreferrer noopener">interview</a>&nbsp;with Oprah Winfrey next month. The interview will air as a prime time special on CBS on March 7 in what is being pitched as a “wide-ranging interview” about their experience after leaving the royal fold. As with all things Harry and Meghan, the interview has&nbsp;<a href="https://www.theguardian.com/uk-news/2021/feb/22/harry-and-meghan-oprah-interview-to-air-after-after-queens-commonwealth-message" target="_blank" rel="noreferrer noopener">sparked controversy</a>&nbsp;in the British press, particularly its timing. The interview is scheduled just hours after the Queen broadcasts her pre-recorded message on BBC’s&nbsp; A Celebration for Commonwealth Day as part of an annual Commonwealth Day tradition.



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<a href="https://www.forbes.com/sites/roberthart/2021/02/19/harry-and-meghan-will-not-return-as-working-members-of-britains-royal-family/?sh=47f1e91f658c">Harry And Meghan Will Not Return As Working Members Of Britain’s Royal Family</a>&nbsp;(Forbes)



<a href="https://www.theguardian.com/uk-news/2021/feb/22/harry-and-meghan-oprah-interview-to-air-after-after-queens-commonwealth-message" target="_blank" rel="noreferrer noopener">Harry and Meghan Oprah interview to air hours after Queen&#8217;s Commonwealth message</a> (The Guardian)



By Siladitya Ray, Forbes Staff

The Duke And Duchess Of Sussex Attend The Endeavour Fund Awards

Prince Harry Talks About ‘Toxic’ British Press ‘Destroying’ His Mental Health During James Corden ‘Late Late Show’ Chat

Topline: Prince Harry and Meghan Markle attended a Commonwealth Day service at London’s Westminster Abbey on Monday, marking their last official engagement as working members of Britain’s royal family before they embark on a more private life—and financial independence. 



Harry and Meghan’s <a href="https://www.forbes.com/sites/isabeltogoh/2020/03/05/meghan-and-harry-begin-farewell-tour-of-final-royal-engagements/#27f6cac6d049">farewell tour</a>—their final round of engagements as senior U.K. royals—has seen them attend a charity awards ceremony and a military music festival service at London’s Royal Albert Hall together, as well as embarking on separate engagements over the past few days. 



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https://www.instagram.com/p/B9dpFt7pgfx/
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<ul class="wp-block-list"><li>Their final one on Monday saw them join other senior royals—The Queen, Prince Charles, and the Duke and Duchess of Cambridge for the annual Commonwealth Service at Westminster Abbey.</li><li>The Duke and Duchess of Sussex are officially<a href="https://www.forbes.com/sites/isabeltogoh/2020/02/19/harry-and-meghan-will-no-longer-be-senior-royals-after-march-31st/#69543bc573eb"> stepping back as senior royals</a> on March 31, after which they will drop the use of their His Royal Highness/Her Royal Highness titles.</li></ul>



<ul class="wp-block-list"><li>The couple have said they will spend most of their time in North America and are repaying the $3.1 million taxpayer-funded refurbishment of Frogmore Cottage, their U.K. base.</li></ul>



What to watch for:



Harry and Meghan will launch their own non-profit organization soon, in keeping with the awareness-raising work they have embarked on during previous royal tours, and on their SussexRoyal instagram page.



Key background: The Duke and Duchess of Sussex’s bombshell announcement in January that they would step back as senior royals was followed by&nbsp;<a href="https://www.forbes.com/sites/isabeltogoh/2020/01/13/harry-and-meghan-will-discuss-their-future-roles-with-the-queen-today/#34a530ef2ed6">emergency meetings</a>, initiated by the Queen, between the senior royal households. The Queen later publicly lent her support to the couple and acknowledged some of the hardships they had faced. Over the past few weeks, the couple’s future roles have been hashed out. Here’s what will change:



<ul class="wp-block-list"><li>The couple, who have spent most of their time in Canada since the start of the year, will split their time between North America and the U.K.</li><li>They will work to become financially independent, forgoing taxpayer funding that other royals receive, but they will still receive a share of Prince Charles&#8217; $27 million income from his private estate, the Duchy of Cornwall.</li><li>They will no longer represent the Queen in a formal capacity.</li><li>Prince Harry’s military ranks of Major, Lieutenant Commander and Squadron Leader will not be used for the next 12 months.</li><li>They will also cease using their ‘Sussex Royal’ branding as we know it, due to U.K. government rules on the use of ‘royal. Their trademark applications for the terms have also been removed.</li><li>But Harry and Meghan will maintain their charity patronages—those charities that they publicly endorse including the Invictus Games, founded by Harry, and the National Theatre, one of Meghan’s most high profile patronages.</li><li>Harry will remain president of the Queen’s Commonwealth Trust, while Meghan will stay its Vice President.</li><li>Prince Harry will remain sixth in line to the throne, while son Archie remains seventh.</li><li>There will be a review in 12 months&#8217; time of the couples&#8217; roles.</li></ul>



&#8211; <a href="https://www.forbes.com/sites/isabeltogoh/">Isabel Togoh</a>, Forbes Staff, Business

gettyimages-1211444508-594×594

Meghan And Harry Mark Final Duty With The Queen Before They Bow Out As Senior Royals

Prince Harry and Meghan Markle would like to “become financially independent,” they announced Wednesday—and that may have to happen sooner rather than later, as Prince Charles, Harry’s father, is&nbsp;<a href="https://pagesix.com/2020/01/10/prince-charles-threatens-to-cut-off-funding-to-prince-harry-and-meghan/" target="_blank" rel="noreferrer noopener">reportedly threatening</a>&nbsp;to pull the millions he gives them each year. How they plan to replace those funds remains a subject of feverish palace intrigue about which the couple remains mum.



But what is clear: By stepping away from their duties, they likely are no longer prohibited from earning income the way senior members of the royal family are, clearing the way for them to take real jobs. What will those be? And how much will they actually need to make in order to live in the style to which they’ve become accustomed?



Annual Costs: Roughly $3 Million A Year (Not Including Renovations)



It’s hard to pinpoint the exact amount that Prince Harry and Markle earn from the various royal mechanisms each year—and a spokesperson for the Sussexes did not respond to questions about on the couple’s finances—but 95% of their annual income comes from Prince Charles, Harry’s father, via the Duchy of Cornwall. A trust that consists of 131,000 acres of real estate and&nbsp;<a rel="noreferrer noopener" href="https://duchyofcornwall.org/assets/pdf/DuchyOfCornwallIAR2018.pdf" target="_blank">more than $450 million in commercial assets</a>&nbsp;within the United Kingdom, the Duchy of Cornwall was established in 1337 to support the direct heir to the throne.



That estate paid a combined $6.5 million (or £5.1 million) to the Duke and Duchess of Cambridge (Prince William and Kate Middleton) and to Prince Harry and Markle in the fiscal year ending March 2019, according to the&nbsp;<a href="https://www.princeofwales.gov.uk/annual-review/2018-2019/income-expenditure-and-staff" target="_blank" rel="noreferrer noopener">latest financial report</a>. The funding for the princes and their families didn’t change much from 2018 to 2019, although both reports were prior to the birth of the Sussex couple’s son, Archie. Let’s assume the brothers split that income from the Duchy (though William and Kate, with three children, are likely taking a bit more). While the Duke and Duchess did not immediately surrender this income, reports surfaced Friday that Charles is threatening to cut them off completely.



The Duke and Duchess of Sussex did announce that they will “no longer receive funding through the Sovereign Grant,” which we know covers an additional 5% of their income, and used for their official duties. It covers official business such as international tours, travel to official events and the upkeep of their homes and offices, and comes from about 25% of the revenue from the Crown Estate (£85.9 million or $112.2 million for the 2020–2021 fiscal year), a portfolio of investments controlled by the monarchy—though not by the royal family or the government—and includes properties across the United Kingdom. (For example, the Queen herself does not own Buckingham Palace.)&nbsp;



In 2018 and 2019, the couple used money from the Sovereign Grant to travel across the world,&nbsp;from&nbsp;<a href="https://www.royal.uk/sites/default/files/media/final_sovereign_grant_for_website.pdf" target="_blank" rel="noreferrer noopener">Fiji</a>&nbsp;to&nbsp;<a href="https://www.instagram.com/p/BzN8VdOlsbk/?utm_source=ig_embed" target="_blank" rel="noreferrer noopener">South Africa</a>, on official royal business. While the royal annual reports don’t detail how much the Sussex’s travels cost in total, their trip to Fiji and Tonga cost $105,000 (£81,000), according to the latest Sovereign Grant financial report. (While it may seem that travel costs could go down as the couple steps back from royal duties, they say they plan to split time between the British Isles and North America, which will lead to new expenses.)&nbsp;



Based on what we know, we estimate the total of the couple’s funds from the Duchy and Sovereign Grants to be a (very conservative) $3 million—again, not including security costs.&nbsp;



And that’s not including the cost of their home and renovations: The Sovereign Grant covered last year’s $3.12 million (£2.4 million) refurbishment of the Frogmore Cottage, the four-bedroom plus nursery home in Windsor where the couple lives when they are in England. The home’s maintenance began before the couple decided to move in and was covered by the Queen, under existing commitments to maintain the upkeep of certain historical buildings, while the couple privately paid for the furniture and decor. Even though the house is property of the Queen, the couple plans to continue using it as their official residence when they are in the United Kingdom—meaning less rent to pay.&nbsp;



None of this takes into account the cost of their security, which is&nbsp;<a href="https://www.bbc.com/news/explainers-51047186" target="_blank" rel="noreferrer noopener">reportedly</a>&nbsp;covered by the Metropolitan Police, and which the family is expected to continue to accept.&nbsp;&nbsp;



With all of these expenses and their easy access to funds facing a precarious future, the questions remains of how, exactly, the couple plan to earn the millions that their lifestyle demands.&nbsp;



What Could Make A Royal Gig: Books, Speeches, SponCon?



They do have some money to live off of: Thanks to her seven-year stint on the television drama&nbsp;Suits, Forbes estimates that Markle has a net worth of about $2.2 million. Prince Harry has money of his own as well, as he and his brother received the<a href="https://www.forbes.com/sites/denizcam/2019/05/10/baby-archie-queen-elizabeth-royals-net-worth-prince-harry-meghan-markle/#6c676ba33b82" target="_blank" rel="noreferrer noopener">&nbsp;bulk of Princess Diana’s $31.5 million estate</a>&nbsp;upon her death in 1997.&nbsp;&nbsp;



But it is likely that they will join other royals, like Harry’s cousins Princess Beatrice and Princess Eugenie, and actually take paying gigs (the former works in finance, while the latter works at an art gallery). While no announcements have been made as to how exactly the couple plans to make money, it would seem natural that they take up work in the entertainment and media fields.&nbsp;



Markle has said that&nbsp;<a href="https://www.harpersbazaar.com/celebrity/latest/a13943777/meghan-markle-prince-harry-quitting-acting/" target="_blank" rel="noreferrer noopener">she was giving up acting for good</a>&nbsp;once she joined the royal family; maybe this is an opportunity for her to change her mind. At the height of her acting career, she commanded up to $85,000 per episode of&nbsp;Suits,&nbsp;Forbes&nbsp;estimates, a number that would likely shoot up thanks to her royal title if she decided to return to the screen.



But it is more likely that the pair will take up shop on the speaking and book circuit. High-profile speakers like former president and first lady Bill and Hillary Clinton&nbsp;<a href="https://www.forbes.com/sites/danalexander/2016/11/08/how-bill-house-hillary-clinton-made-240-million-how-much-earnings-rich-white/#61817fce7a16" target="_blank" rel="noreferrer noopener">can earn up to six figures</a>&nbsp;per speech to corporations and universities, while even B-list celebrities like&nbsp;Jersey Shore’s Nicole “Snooki” Polizzi could&nbsp;<a href="https://www.nj.com/news/2011/03/snookis_advice_to_rutgers_stud.html" target="_blank" rel="noreferrer noopener">command $32,000 per oration</a>&nbsp;during the height of her fame.&nbsp;



A hit book has the potential to earn the couple even more. A seven-figure advance is typical for celebrities like Amy Schumer and politicians like Elizabeth Warren, with some high-profile authors earning even more. In 2017, former president and first lady Barack and Michelle Obama signed a record-breaking $65 million book deal with Penguin Random House, while Hillary Clinton scored a $14 million advance for&nbsp;Hard Choices&nbsp;in 2014, and Bruce Springsteen got $10 million for 2016’s&nbsp;Born to Run.&nbsp;



There’s also talk that the couple,&nbsp;<a href="https://sussexroyal.com/media/" target="_blank" rel="noreferrer noopener">which favors</a>&nbsp;new media and direct lines of communication with their fans, may even start a podcast, which could be a lucrative endeavor. Last year, advertising spend on podcasts reached an estimated $680 million, according to a&nbsp;<a href="https://www.iab.com/insights/third-annual-podcast-ad-revenue-study-by-iab-and-pwc-reports-significant-growth/" target="_blank" rel="noreferrer noopener">PricewaterhouseCoopers report</a>, and that number is supposed to shoot up to $1 billion by next year.



And in the unlikely chance they’re ever interested in following the footsteps of&nbsp;<a href="https://www.marieclaire.com/celebrity/g16355260/kardashians-royal-family-similarities/" target="_blank" rel="noreferrer noopener">the royal family of Calabasas</a>, the Duke and Duchess could surely earn an enormous sum doing sponsored content on their widely popular (10.4 million followers)&nbsp;<a href="https://www.instagram.com/sussexroyal/?hl=en" target="_blank" rel="noreferrer noopener">Instagram account</a>. Celebrities like Kim Kardashian West and her half-sister Kylie Jenner earn up to $500,000 per post.



Of course, the details of the couple’s future, and their future earnings, are all in flux, as Buckingham Palace’s&nbsp;<a rel="noreferrer noopener" href="https://www.royal.uk/statement-discussions-duke-and-duchess-sussex" target="_blank">curt statement</a>&nbsp;on the matter made clear. And the wording of their own statement made sure that they can work toward financial independence on their own time. One thing is for certain: It doesn’t seem as if the Duke and Duchess will be hurting for cash anytime soon.



By&nbsp; <a href="https://www.forbes.com/sites/maddieberg/">Madeline Berg</a>, Reporter, Forbes Staff and&nbsp;<a href="https://www.forbes.com/sites/denizcam/">Deniz Çam</a> , Wealth Reporter, Forbes Staff.

dollars_flying_flickr

Harry And Meghan Need $3 Million-Plus To Be ‘Financially Independent.’ Here’s How They May Do It.

What kind of silver spoon was little&nbsp;<a rel="noreferrer noopener" href="https://www.forbes.com/sites/ceciliarodriguez/2019/05/08/meghan-harry-and-baby-the-first-photos-the-name-and-their-new-record" target="_blank">Archie Harrison Mountbatten-Windsor</a>born with in his mouth? Probably a gold one. After all, his great-grandmother lives like a queen.



Only Elizabeth II can call several palaces home, don Cartier tiaras, own rare paintings, collect Thoroughbreds, and match endless colorful hats with a rainbow of outfits without being a billionaire. Her Majesty, who has worn the crown since 1953, lives the life of the ultrarich but is nowhere close to being one of the wealthiest in the world—or even her United Kingdom. The Queen’s nine-figure net worth—estimated at $500 million—lands her way below the&nbsp;<a rel="noreferrer noopener" href="https://www.forbes.com/billionaires/" target="_blank">2,153 billionaires on&nbsp;Forbes’list</a>&nbsp;this year. And yet she enjoys a lifestyle any of them would surely envy.



 The 93-year-old directly owns some assets like Balmoral Castle in Scotland and Sandringham Estate in Norfolk, but many of her most valuable assets like Buckingham Palace are owned by a body called the Crown Estate.&nbsp; 



 If she were to possess the Crown Estate—which includes a myriad of properties in the U.K. and is owned by neither the government nor the royal family—as well as the Duchy of Lancaster (a private trust governed by the same ownership rules),&nbsp;Forbes&nbsp;estimates that the Queen would be the richest person in the U.K. (and the third-wealthiest woman in the world) with a net worth of more than $25 billion. And even that number doesn’t take into account the value of the Royal Collection Trust, which, with its Fabergé eggsand Rembrandt paintings, could be worth in excess of a billion dollars. 



 And she does earn a living. The Queen derives an annual income from the properties held by the $18 billion Crown Estate and the Duchy of Lancaster, a real estate trust dating back to 1265, that paid her $27 million (pretax) in fiscal year 2018 for personal expenses. The Sovereign Grant, which equals 25% of the income from the Crown Estate, goes toward the Queen’s official expenses, which include payroll, travel, housekeeping, maintenance costs and even IT expenses. (<a rel="noreferrer noopener" href="https://www.instagram.com/theroyalfamily" target="_blank">She is on Instagram</a>, after all.) And none of that includes any winnings she earns betting on her beloved racehorses. 



Naturally, Queen Elizabeth’s eldest son, Prince Charles, is not as wealthy as his mother—yet. The 70-year-old Prince of Wales derives his annual income from the Duchy of Cornwall, which manages a real estate trust that largely consists of 131,000 acres and more than<a rel="noreferrer noopener" href="https://duchyofcornwall.org/assets/pdf/DuchyOfCornwallIAR2018.pdf" target="_blank">&nbsp;$450 million in commercial assets</a>&nbsp;within the U.K. The proceeds from Cornwall cover not only the annual expenses of Prince Charles but also of his two sons and their families: Prince William, the Duchess of Cambridge and their three children; and Prince Harry, his wife, Meghan Markle, and baby Archie. Though considerably more modern and down-to-earth than their grandmother, the young Windsors live like, well, royalty. In 2018, the families of William and Harry had $6.1 million in personal expenses, although the royals&#8217; official financial statements do not detail what those expenses were.&nbsp;



Despite the endless fascination with the royals around the world, there is a faction in the U.K. who believe the family is a burden on taxpayers. That’s not necessarily the case, however, according to Richard Haigh, the managing director of Brand Finance, a U.K.-based valuation company. “Last year, we valued the boost to the U.K. economy from Harry and Meghan’s royal wedding in Windsor at almost $1.5 billion,” Haigh told&nbsp;Forbes. And in its latest report on the monarchy from 2017, Brand Finance estimated that the family is responsible for more than $700 million in annual tourism.



In other words—everyone is royally flush.



With additional reporting by&nbsp;Hayley C. Cuccinello,&nbsp;Ariel Shapiro&nbsp;and&nbsp;Kristin Tablang.



<hr class="wp-block-separator"/>



<h3 class="wp-block-heading">The Royal Family by the Numbers</h3>



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">REAL ESTATE</blockquote>



<figure><iframe src="https://cdn.embedly.com/widgets/media.html?src=https%3A%2F%2Fe.infogram.com%2F_%2FNuMbnpee37CcyT2gsWZf%3Fsrc%3Dembed&amp;url=https%3A%2F%2Finfogram.com%2F1pe2xjqd0vegdnum9mp562393ksld0k2zl1&amp;image=https%3A%2F%2Finfogram-thumbs-1024.s3.amazonaws.com%2F5d2824f5-3b2f-45b8-869d-b98153546ac7.jpg&amp;key=3ce26dc7e3454db5820ba084d28b4935&amp;type=text%2Fhtml&amp;schema=infogram"></iframe></figure>



$18.7 billion:&nbsp;The real estate owned in Great Britain by the Crown Estate and its Scottish counterpart. The Queen technically owns this portfolio of commercial and industrial properties, but she cannot sell any of it.



$4.7 billion:&nbsp;According to Lenka Duskova of the Czech real estate agency Luxent, the value of Buckingham Palace, the 775-room residence of the United Kingdom’s sovereigns since 1837, would be worth a little bit more than Richard Branson. (Not that the royal family is looking to move.)



$1.3 billion: The net assets of the Duchy of Cornwall, which spans 131,000 acres. Its portfolio&nbsp;include the Isles of Scilly, residential and commercial properties in London and Llwynywermod, the Welsh home of Prince Charles and Camilla Parker-Bowles, the Duchess of Cornwall.



$740 million:&nbsp;The net assets of the Duchy of Lancaster, which includes some 46,000 acres of land in England and Wales acquired by the Duchy over seven centuries, London’s Savoy Chapel (built in 1512), as well as limestone and sandstone quarries and a gypsum mine.



$600 million:&nbsp;The value of Kensington Palace, the childhood home of Queen Victoria and the residence of young royals for more than three centuries, according to Luxent. The Duke and Duchess of Cambridge and their three children live in Kensington Palace 1A, a 20-room, four-story “apartment.”



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">GIVING BACK</blockquote>



$428.2 million: The profit turned by the Crown Estate in 2018, which was deposited into Britain’s Treasury rather than the Queen’s many purses.



$145.6 million:&nbsp;The combined assets held by Prince Charles’ charities, which support economic, environmental and social causes in Britain and around the globe.



<figure class="wp-block-image"><img decoding="async" src="https://specials-images.forbesimg.com/imageserve/79732254/960x0.jpg?fit=scale" alt="Diana, Princess of Wales with her sons, Prince William and Harry"/><figcaption>High Notes: Princes William and Harry received millions from Princess Diana&#8217;s estate when they turned 25.TIM GRAHAM/GETTY IMAGES</figcaption></figure>



$46.7 million:&nbsp;The amount spent on charitable activities in 2018 by Prince Charles’ philanthropic organizations.



$31.5 million:&nbsp;The value of Princess Diana’s estate at the time of her death, according to her will. The bulk of that sum went to her sons, Princes William and Harry, each of whom inherited a share on his 25th birthday. The remainder was split between her 17 godchildren and her former butler Paul Burrell, who received£50,000 (about $81,000).



1,762: The number of offshore wind turbines that are part of the Crown Estate.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">LIFESTYLE</blockquote>



200 billion:&nbsp;The number of times the image of the Queen on U.K. postage stamps has been reproduced. The design has not changed since 1967 and is believed to be the most reproduced work of art in history.



<figure class="wp-block-image"><img decoding="async" src="https://specials-images.forbesimg.com/imageserve/831924096/960x0.jpg?fit=scale" alt="Poltimore Tiara"/><figcaption>High Tiara: The Poltimore Tiara from the collection of the late Princess Margaret was auctioned in 2006.DANNY LAWSON/PA IMAGES VIA GETTY IMAGES</figcaption></figure>



$17,627,021:&nbsp;Amount that the jewelry and Fabergé items from the collection of Princess Margaret brought in at Christie’s in 2006. The exquisite pieces included the Poltimore Tiara—made in 1870 by Garrard for Lady Poltimore, the wife of the second Baron Poltimore and Queen Victoria’s treasurer—which sold for $1.7 million.



$2,423,050:&nbsp;The amount an unused Mauritius “Post Office” twopence from 1847 (No. 13)—which mirrors the piece widely regarded as&nbsp;<a href="https://postalmuseum.si.edu/queen's/rarities-list1.html" target="_blank" rel="noreferrer noopener">the most valuable stamp</a>&nbsp;in the Royal Philatelic Collection (No. 14)—sold for in 1993. The prized collection—which has never been appraised—also boasts one of two 1854 Bermuda “Perot” stamps still in existence, the other having last sold for $340,000 in 1996.



$2.2 million:&nbsp;Meghan Markle’s net worth based on her salary from&nbsp;Suits. The Duchess of Sussex starred as Rachel Zane on the legal drama for seven seasons and earned an estimated average of $57,500 per episode.



<figure class="wp-block-image"><img decoding="async" src="https://specials-images.forbesimg.com/imageserve/960676594/960x0.jpg?fit=scale" alt="Prince Harry Marries Ms. Meghan Markle - Windsor Castle"/><figcaption>Here Comes the Bride: Meghan Markle heads to her wedding in the queen&#8217;s 1955 Rolls-Royce Phantom IV.MAX MUMBY/INDIGO/GETTY IMAGES</figcaption></figure>



$1,039,758:&nbsp;The auction price of the 1955 Rolls-Royce Phantom IV belonging to Queen Elizabeth sold at Bonhams’ Goodwood Revival Sale in September 2018. The previous year, a bespoke 2001 Daimler Super V-8 commissioned by the Queen fetched $55,575—and in November 2016, Princess Diana’s beloved 1994 Audi Cabriolet sold for $59,500 at Silverstone Auctions’ NEC Classic Motor Show sale.



$583,000:&nbsp;The total earnings of Queen Elizabeth’s champion horses in the past year, according to the British Horseracing Authority. The Queen’s most valuable horse of all time, Estimate—an Irish-bred, British-trained Thoroughbred that won the Queen’s Vase at Royal Ascot in 2012 and the Ascot Gold Cup the following year—collected more than $487,000 in prize money before retiring to the Royal Stud at Sandringham in 2014.



<figure class="wp-block-image"><img decoding="async" src="https://specials-images.forbesimg.com/imageserve/618251740/960x0.jpg?fit=scale" alt="Princess Diana Dancing with John Travolta"/><figcaption>White House Fever: John Travolta twirls Princess Diana around the dance floor with Nancy and Ronald Reagan in the background.&nbsp;CORBIS VIA GETTY IMAGES</figcaption></figure>



$222,500:&nbsp;The amount a midnight-blue velvet Victor Edelstein evening gown Princess Diana wore to a 1985 state dinner at the White House hosted by President Reagan—where she famously danced with John Travolta—sold&nbsp;for at auction in 1997.



$25,277:&nbsp;<a href="https://www.thomas-s.co.uk/uploaded/Policies/Fees_Charges_from_1_September_2019.pdf" target="_blank" rel="noreferrer noopener">The cost of Prince George’s tuition</a>&nbsp;at Thomas’ Battersea for the 2019—2020 school year, inclusive of books and registration fees.



<figure class="wp-block-image"><img decoding="async" src="https://specials-images.forbesimg.com/imageserve/106751835/960x0.jpg?fit=scale" alt="The British Crown Jewels In 1969"/><figcaption>Gem Dandy: The British Crown Jewels include the Sceptre (which belonged to Louis XVI), The Cup, Bracelets, Globe, Tiara and Royal Crown.GAMMA-KEYSTONE VIA GETTY IMAGES</figcaption></figure>



23,578:&nbsp;The number of gemstones showcased in the Crown Jewels, which are housed in the Tower of London. The Sovereign’s Sceptre with Cross has been used at every coronation since Charles II’s in 1661 and boasts the Cullinan I diamond, the largest top-quality cut white diamond in the world, weighing 530.2 carats.



$7,500:&nbsp;How much a slice of cake from the wedding of Prince William and Kate Middleton sold for at Julien’s Auctions in December 2014—four months after a slice of the five-tier fruitcake from Prince Charles and Lady Diana Spencer’s wedding sold for $1,375. The year before, a piece of Queen Elizabeth and Prince Philip’s 9-foot-tall, 500-pound cake sold for a relatively low $896.&nbsp;&nbsp;&nbsp;



$3,900:&nbsp;The final price of a felt-and-velvet doll from 1935 once belonging to Princess Elizabeth, which sold in December 2018. The year prior, a pair of Deans Rag Book Co. Mickey and Minnie Mouse toys—given to Princess Elizabeth and Princess Margaret by their nanny Clara Allah Knight—fetched $1,164.



<figure class="wp-block-image"><img decoding="async" src="https://specials-images.forbesimg.com/imageserve/576747043/960x0.jpg?fit=scale" alt="Princess Elizabeth And Corgi"/><figcaption>Dog Days: Princess Elizabeth with her pet corgi in 1944.&nbsp;LISA SHERIDAN/HULTON ARCHIVE/GETTY IMAGES</figcaption></figure>



1,306:&nbsp;The number of corgis registered in the U.K. in 1944, when Princess Elizabeth received one for her 18th birthday. Corgi registration jumped 56% that year and would continue to increase until 1960. The Queen’s influence over the corgi market is so great that when her last pup died in 2018, the Kennel Club temporarily placed the short-legged breed on its “At Risk” list.



800:&nbsp;The number of royal warrant holders, which range from luxury brands such as Burberry to family-run saddle maker Abbey England. The royal warrants recognize those who supply goods or services to the royal family. Brand Finance estimates a royal warrant can contribute as much as 5% of a company’s revenue.



<figure class="wp-block-image"><img decoding="async" src="https://specials-images.forbesimg.com/imageserve/5cd46c1c5218470008b042ac/960x0.jpg?fit=scale" alt="The Duke &amp; Duchess Of Sussex Pose With Their Newborn Son"/><figcaption>Set for Life: The Duke and Duchess of Sussex introduce Archie to the world.&nbsp;DOMINIC LIPINSKI/WPA POOL/GETTY IMAGES</figcaption></figure>



7:&nbsp;The place in line Prince Harry’s newborn son, Archie, holds in the royal succession.



&#8211;Deniz Cam; Forbes Staff

Tag: Meghan Markle