Meghan and Harry: Exit was a 'significant event' says expert
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The Duke and Duchess of Sussex had set up nearly a dozen companies in Delaware, a US state that does not impose business transaction taxes nor high personal taxes. State filings showed that the couple registered 11 companies from April 2020 in the state, some of which were created to hold the Archewell charity trademark and its affiliated companies.
Within these filings, over half of their new companies have been established for the “entertainment” business.
The couple has already signed a deal to produce content with Netflix, thought to be worth around $100million (£73.7million).
Another deal with streaming giant Spotify signed in December 2020 is reportedly worth another £18million.
Two further companies were registered along with the previous companies on the same day, it has now emerged.
The Telegraph reported that the same lawyer and business manager who worked on behalf of the Duchess of Sussex for years registered these additional companies.
The companies, listed on public records in Delaware and California, were incorporated by Meghan’s attorney, Richard Genow, and her business manager, Andrew Meyer.
They look to be named deliberately for sentimental meaning to the couple, with one harking back to Meghan’s childhood in Los Angeles.
Cloverdale Inc recalls the name of the street on which the young Duchess lived with her mother as she was growing up.
Together with a second company, listed as Riversoul Productions Inc, the venture is purposefully designed for the “entertainment” industry.
This means the Duke and Duchess have listed seven separate companies – including others like Hampshire LLC and IPHW LLC – with this explicit purpose.
The couple previously worked under the name Archewell Productions, used for their collaboration with Netflix, and Archewell Audio for their involvement with Spotify.
These “entertainment” focused companies complete the Duke and Duchess’s portfolio of two publishing companies and three investment firms.
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The couple has been linked to Peca Publishing, which holds the rights to The Bench, penned by Meghan.
The name is thought to refer to the Spanish word for ‘freckles’.
They have also been tied to Orinoco Publishing, thought to be the publisher in charge of Prince Harry’s forthcoming autobiography.
This has been seen as a gear change by those noting Harry and Meghan’s previous pushes on philanthropic and non-profit work.
They have in recent months joined the ranks of various other firms, including becoming “impact partners” at a New York-based ethical investment firm, Ethic.
Harry also announced that he has taken on the role of chief impact officer for Better Up, an app that focuses on business coaching for employees.
He is also a commissioner at the Aspen Institute’s Commission on Information Disorder, which aims to combat untrustworthy sources and misinformation in society.
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