In a prepared statement, they said they would be splitting their time between the UK and North America. They also stated that they would work towards becoming financially independent.
See their full statement below:
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“After many months of reflection and internal discussions, we have chosen to make a transition this year in starting to carve out a progressive new role within this institution. We intend to step back as ‘senior’ members of the Royal Family and work to become financially independent, while continuing to fully support Her Majesty The Queen. It is with your encouragement, particularly over the last few years, that we feel prepared to make this adjustment. We now plan to balance our time between the United Kingdom and North America, continuing to honour our duty to The Queen, the Commonwealth, and our patronages. This geographic balance will enable us to raise our son with an appreciation for the royal tradition into which he was born, while also providing our family with the space to focus on the next chapter, including the launch of our new charitable entity. We look forward to sharing the full details of this exciting next step in due course, as we continue to collaborate with Her Majesty The Queen, The Prince of Wales, The Duke of Cambridge and all relevant parties. Until then, please accept our deepest thanks for your continued support.” – The Duke and Duchess of Sussex For more information, please visit sussexroyal.com (link in bio) Image © PA
While many British taxpayers might be expected to start rejoicing at the news, it prompted questions about how much money the Duke and Duchess of Sussex have squirreled away, be it taxpayers revenue or their own.
It should also be noted that only 5% of Harry and Meghan’s income reportedly comes from British taxpayers. This money comes from the Sovereign Grant, used to fund royal duties, such as traveling to various ceremonies. It is this income that the couple will be forgoing.
How much money have they got?
All evidence suggests that the Duchess was already well and truly financially independent before she met her prince charming.
She has been a successful actress with a recurring role in hit series Suits, which would have almost certainly earned her a six-figure sum. It has been reported that before her marriage, Meghan had an estimated personal fortune of approximately $5 million.
Meghan has appeared in numerous movies, including Horrible Bosses, Remember Me, The Candidate, and Get Him To The Greek.
On the other hand, Harry is thought to be worth anywhere between $25 and $40 million. He inherited a large portion of his wealth. He allegedly shared £14 million with his brother from the late Queen Mother’s estate.
Princess Diana allocated three-quarters of her £21 million estate to Harry and William.
Harry previously spent ten years as a British army officer, which reportedly netted him an annual income of about £45,000 ($58,700).
Overall they are thought to have a combined income somewhere between $30 and 40 million dollars.
View this post on Instagram
Today, The Duke and Duchess of Sussex visited Canada House in London to thank the High Commissioner Janice Charette and staff for the warm hospitality during their recent stay in Canada. The Duke and Duchess have a strong connection to Canada. It’s a country The Duke of Sussex has visited many times over the years and it was also home to The Duchess for seven years before she became a member of The Royal Family. Thank you Canada 🇨🇦! • Video © SussexRoyal Music © Raphael Lake
The couple reportedly has formed fond links with Canada, and there are rumors the pair may settle there.
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