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Meghan Markle and Prince Harry ‘have lost £15m’ since Royal Family split

Meghan Markle's reasons for leaving royals questioned by Rae

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The couple made the landmark decision last year to leave their royal life behind them in the UK and move across to the pond in a bid to live a “financially independent life” away from the monarchy.

Since then they have spent a fortune on a host of new luxuries, such as a mansion in Montecito, an exclusive beachside neighbourhood around two hours drive north of Los Angeles.

While they have managed to secure a string of lucrative deals with streaming giants such as Netflix and Spotify, Harry spoke out in March to Oprah Winfrey about how he was financially cut off from his family.

This prompted a response from Prince Charles’ spokesperson, who said, when the Clarence House financial accounts for the year were released in June, that the Sussexes received a “substantial sum” on their exit and that they were funded up to the summer of 2020.

According to a royal commentator, Harry and Meghan have lost more than $22million (£15.8m) since leaving the Royal Family, before their deals were included.

In a piece titled ‘Meghan Markle and Prince Harry have lost $22million (£15.8m) since leaving the Royal Family’ for News.au.com, commentator Daniela Elser outlined exactly how the couple found themselves with such high spending.

She noted that the couple reportedly paid $19.6m (£14m) for their new compound that “came replete with two saunas and a Japanese tea house next to a koi pond”, something Ms Elser described as “just what every runaway Prince needs”.

Ms Elser continued: “The Sussexes’ purchase of the property was a landmark event for both Harry and Meghan, the first home either of them had ever owned.

“For the Duke, it was also the first time he had ever had to personally foot the bill to put a permanent roof over his own head.

“In Harry’s first 35 years, up until Megxit, his living expenses had been pretty much looked after by the Royal Family, followed by the Army, and then the Royal Family again.”

She then discussed the cost of Frogmore Cottage and the renovation work carried out on what is the Sussexes’ official UK home.

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Two years ago, it was detailed that taxpayer money had funded $4.4m (£3m) worth of work, something the couple said they would pay back after relinquishing their roles in the Firm.

Ms Elser explained: “Take this all together – their new home deposit, household running costs, how much Duchy of Cornwall cash they have given up, and having to repay the costs of Frogmore – and the sum totals $22.45 (£16.2) million.

“That’s a whole lot of dough to have to find every year to keep the lights on and the family in hot and cold running bodyguards.”

She did note that the couple would be paid for their work and contracts on Netflix and Spotify, yet they would not receive the full amounts of these deals, just installments and retainers to keep them going.

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Ms Elser added: “No matter which way you look at it, the numbers are enough to make any accountant worth their trusty Casio break out in a cold sweat.

“‘Money can’t buy us happiness’ as the Sussexes’ neighbour Katy Perry might sing but it sure can help when you are trying to start a new life and look after your very own koi pond.”

More recently, it was announced that Harry had signed a deal to write his memoir, with proceeds of the book going to charity.

Penguin Random House, the publisher, said in a statement it would be an “intimate and heartfelt memoir” that will see Harry share “the definitive account of the experiences, adventures, losses and life lessons that have helped shape him”.

It added: “Covering his lifetime in the public eye from childhood to the present day, including his dedication to service, the military duty that twice took him to the frontlines of Afghanistan, the joy he has found in being a husband and father, Prince Harry will offer an honest and captivating personal portrait, one that shows readers that behind everything they think they know lies an inspiring, courageous and uplifting human story.”

Prince Harry concluded: “I’m writing this, not as the prince I was born, but as the man I’ve become.

“I’ve worn many hats over the years, both literally and figuratively, and my hope is that in telling my story ーthe highs and lows, the mistakes, the lessons learned ー I can help show that no matter where we come from, we have more in common than we think.

“I’m deeply grateful for the opportunity to share what I’ve learned over the course of my life so far and excited for people to read a first-hand account of my life that’s accurate and wholly truthful.”

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