NEWS

Meghan Markle And Prince Harry Running Out Of Money And In Debt?

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Princ Harry and Meghan Markle "desperate for cash" In Touch cover story

By Hugh Scott |

Princ Harry and Meghan Markle "desperate for cash" In Touch cover story

(In Touch)

Meghan Markle and Prince Harry are having serious financial problems according to a tabloid report this week. Gossip Cop has looked into the matter. Here’s what’s really going on.

Since the Duke and Duchess of Sussex announced that they would be ‘stepping back’ from their senior roles in the royal family, the tabloids have been all over the couple with outlandish claims. The latest comes from In Touch, which claims on its cover the spouses are “desperate for cash” and already “$6 million in debt.” Inside, there are even more ridiculous claims.

The outlet quotes a supposed source as saying, “Since leaving Britain, Harry and Meghan are hemorrhaging money and struggling to make ends meet. They’re about $6 million in the hole.” The reason for this, according to the unreliable publication, is because Prince Harry and Markle have had to “increase security at their rented mansion.” Security, according to the supposed insider, “is costing them an absolute fortune. On top of that they have a ton of overhead: Rent on their $14 million mansion can’t be cheap.”

The magazine doesn’t explain how this supposed source seems to know financial details like the couple being $6 million in debt – but doesn’t know how much rent the couple is paying to live in their house in Vancouver. The dubious source purports to know that the duke and duchess “want to put a deposit down on a home in L.A. and Meghan has expensive tastes,” yet is missing other key details. There is simply no truth to the story.

Prince Harry and Markle are, by the most reliable sources, worth about $30 million. His fortune comes from a variety of sources, notably his inheritance from his mother, Princess Diana, and from his great-grandmother, Elizabeth, the queen’s mother. The tabloid attempts to cover for this by claiming Prince Harry has told Markle that his inheritance is “off limits.” Being worth that much means they aren’t’ in “debt” as the story claims. Even if this money were “off limits,” it’s hardly the only way the couple earns income.

A relatively small amount of Prince Harry’s income came directly from taxpayers, in the form of grant money. This grant money is paid out by taxpayers to senior members of the royal in return for the work they do on behalf of the country. It only accounted for about five percent of the Duke and Duchess of Sussex’s income. A vast majority comes from his father, Prince Charles. BBC has reported that the royal couple will continue to receive money from his father and his investments.

The further truth is, In Touch has a dismal record of reporting on the couple. Last October, the tabloid alleged Markle had walked out on Prince Harry and had taken baby Archie with her. The outlet claimed the two had a huge fight over the media pressure on Markle. Pressure, it should be noted, created by tabloids like this one. That story was also completely false and Gossip Cop debunked it as well. Trusting this publication to report factually on Markle and Prince Harry is a mistake.


Sources

Morton, Brianna. "Prince Harry And Meghan Markle Are Officially Stepping Back From Royal Duties." Gossip Cop, 8 Jan. 2020.

Langone, Alix. "Prince Harry and Meghan Markle Are Royally Rich. Here's Everything We Know About Their Fortune." Money, 22 May 2018.

"Prince Harry and Meghan: Where do they get their money?" BBC, 20 Jan. 2020.

Matis, Griffin. "Meghan Markle Walked Out On Prince Harry And Took Baby Archie With Her?" Gossip Cop, 25 Oct. 2019.