Prince Harry and Meghan Markle's decision to step away from their royal duties has generated a lot of speculation about their financial situation. Gossip Cop noticed how often baseless rumors about the couple's plans to support themselves pop up. We gathered the most egregious, outlandish times we called out the tabloids for their fact-free reporting.
"Meghan & Harry Desperate For Cash!" screamed the cover for In Touch in February. The Duke and Duchess of Sussex were $6 million in debt and "struggling to make ends meet," according to the outlet's dubious source. "Since leaving Britain, Harry and Meghan are hemorrhaging money," the so-called "insider" revealed.
Meghan Markle and Prince Harry had to "increase security at their rented mansion," which, contended the source, "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." Interesting that the supposed source knows the couple is specifically $6 million in debt, but they don't know how much the couple spends on rent.
The publication's premise was absurd from the start. Gossip Cop researched the couple's finances and found that most reliable sources report that Prince Harry and Meghan Markle are worth about $30 million. Most of Prince Harry's fortune comes from an inheritance from his mother, Princess Diana, and his great-grandmother, Elizabeth, who is the queen's grandmother.
The vast majority of Prince Harry's money comes from his father, Prince Charles, and the BBC has reported that the Duke of Wales will continue to support the couple with his own private funds. A relatively small percentage of Prince Harry's money, about 5 percent, came from taxpayers in the form of grants. Losing that small percentage would not send the couple spiraling into debt.
The National Enquirer reported in March that the couple's money issues caused Meghan Markle to demand Prince Harry to get a job. This time around, the couple was allegedly in an "$8 million money crunch." A suspicious "high-level palace insider" told the outlet, "Meghan's terrified her champagne dreams of being a Hollywood queen will be shattered by this financial nightmare and is insisting Harry get off his duff and solve the crisis."
There were several reasons listed for the "$8 million" debt, like the couple's pledge to pay the British government back for the $3 million used to renovate their home base in the United Kingdom, Frogmore Cottage. Another factor were the couple's expenses from their Vancouver rental home and future security costs. This is the reason, the "insider" insisted, "Meghan told Harry, 'We need money — now!'" It was just another article based on hogwash.
Gossip Cop once again explained the facts about where Prince Harry got his money, which this tabloid either didn't bother to look up or purposefully withheld to misinform their readers. First of all, Prince Harry and Meghan Markle weren't fully cut off by the family just yet. According to the deal they worked out with Queen Elizabeth, the couple would spend the next 12 months working towards independence. The family, especially Prince Charles, also has a large amount of private wealth, mainly from their large landholdings across the country. This tale of financial woe simply wasn't true.
There are, of course, rumors about how Meghan Markle and Prince Harry plan to make money now that they've stepped back from the royal family. New Idea alleged that the Duke and Duchess of Sussex planned to break into Hollywood. Markle planned to "set the wheels in motion for a Hollywood comeback — and she's hoping to enlist some high-profile pals such as Angelina Jolie and Tom Cruise" to ensure her success, tattled a dubious tipster.
The "Hollywood insider" continued, "It's an open secret Meghan's aspired to be like Ange for many years, just like she's in awe of Princess Diana." Though the two had never physically met, the source claimed that Jolie and Markle had connected over Zoom, a virtual meeting software that's recently taken off in popularity due to the ongoing coronavirus pandemic.
Tom Cruise is also one of Markle's crucial backers, with the magazine asserting he's "firmly in Meghan's corner." Curiously, the purported tipster was also fully aware of Cruise's involvement, and told the outlet, "Tom's a huge anglophile so he's dying to catch up with Harry and Meghan." It should be noted that Gossip Cop had recently busted this same publication for claiming that Cruise and Markle were planning to team up. Our own impeccable source on Cruise shot down the idea after we reached out.
The most recent report about the couple's future financial planning came from the Globe. It was reported that Prince Harry and Meghan Markle were buying a weed farm. According to the disreputable outlet, Prince Harry had "plans to turn his years as a stoner into a king's ransom — by launching a huge marijuana business empire" by buying a $9 million cannabis farm.
A dubious source for the publication argued that Prince Harry had "been smoking marijuana for years" and it's "something he likes and knows about." It ought to be said that while the Duke of Sussex was known for his partying ways during his 20s, he's never been caught smoking weed or publicly confessed to it. This wasn't the only red flag that caught Gossip Cop's attention.
When Prince Harry and Meghan Markle announced they'd be stepping back from their royal duties, they pledged to "continuing to honor [their] duty to The Queen, the Commonwealth, and [their] patronages." Running a pot business doesn't seem like something that Prince Harry's father, Prince Charles, or his grandmother, Queen Elizabeth, would want him doing. Since the couple also said they have no intention of besmirching or otherwise embarrassing their royal relatives, it seems highly unlikely that Prince Harry would go into a business that might bring his family discomfort.
For what it's worth, the Duke and Duchess of Sussex just announced that they'd be donating $112,000 of the profits from their royal wedding to Feeding Britain. The Archbishop of Canterbury, who presided over Prince Harry and Markle's wedding, is the president of the charity. The huge amount of funds will go to supplying food pantries and other food organizations across the country. Clearly, the couple isn't in dire financial straits or searching for employment opportunities.
Prince Harry and Meghan Markle are popular targets for tabloid fiction. There have been so many stories about the Duke and Duchess of Sussex splitting up, Gossip Cop was able to make a compilation of the most absurd false reports about the spouses. It's hard to believe that these tabloids could get a subject they write about so often so wrong every time.