Meghan Markle, 38, and Prince Harry, 35, announced that they would be leaving the UK in order to start a new life together with their son, Archie, earlier this year. The royal couple made the controversial decision to step back from public life and said they hoped to become “financially independent” in the game-changing move. But while many initially questioned how they would fund their new lifestyle, it’s now been reported that the pair have put down roots and bought themselves a new home for the first time – so how did they pay for it?
Meghan Markle and Prince Harry net worth
Though the Duke and Duchess of Sussex have now stepped down as working royals, they still have plenty of money behind them to afford their new life in California.
Together it is estimated that they have a net worth of around £23million ($30million).
The majority comes from Prince Harry’s fortune, together with Meghan’s own lucrative career as an actor before she joined the Royal Family.
According to Business Insider, Meghan Markle has an estimated net worth of £3.8million.
The huge amount is largely down to her successful acting career before she joined the Royal Family.
Meghan starred as paralegal Rachel Zane in the critically acclaimed US drama Suits.
The former actress starred in more than 100 episodes, and was reportedly paid around £40,000 ($50,000) per episode towards the end of her stint on the show, according to Know Net Worth.
That would have given her an annual salary of around £345,000 ($450,000) by the time she left.
Meghan also had smaller parts such as a brief role in the popular TV series 90210, and was paid £149,000 ($187,000) for appearing in the film Remember Me and £137,000 ($171,429) for The Candidate, according to Know Net Worth.
She also ran her own lifestyle website called The Tig which earned money through sponsored content, but it was later closed and Meghan left her acting career behind before marrying Prince Harry in 2018.
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Prince Harry meanwhile is thought to have a net worth of £19.2million ($25million), according to Business Insider.
While exact figures are unknown, it’s believed Prince Harry had a trust fund from his late mother, Princess Diana, worth £10.6million.
The fund was put in place for both Prince Harry and his brother Prince William to inherit when they each reached their 30th birthdays, according to reports, after the money was given in a divorce settlement from their father.
He’s also thought to have an annual allowance from his father Prince Charles, as well as having earned his own salary from his time in the military.
The huge amount will no doubt have been enough to cushion them as they settled into their new life overseas.
While initially the royal couple stayed in Canada for six months, they then moved to LA, where Meghan was born, to stay near the Duchess’ mother during the lockdown.
However, they have not decided to put down roots in LA, with new reports that they have bought their own home in another area of sunny California.
A source told Page Six that they are now living in Santa Barbara, where homes can cost as much as $100million.
It’s the first time either of them would have owned their own home, with the source saying that they had been “quietly living” in their own place since early July.
The area is home to celebrities including Ellen DeGeneres and Oprah Winfrey, and is one of the wealthiest communities in the US.
It’s not yet known how much the home would have cost or how big it is, but the source added that Prince Harry “prefers more intimate homes with character” after the duo had stayed at Tyler Perry’s 12-bedroom mansion in Beverly Hills.
The lavish home is worth £13million ($18million) according to reports.