Harry & Meghan Are Facing a Large Financial Setback After Reports They’re ‘Running Out of Money’
The moment Prince Harry and Meghan Markle stepped away from being working royals was the moment they had to start earning money for themselves. Markle, who had been a working actress before, already had money to her name, but Prince Harry had always been in the royal family, so the transition was somewhat complicated. What made it easier for them was that, very quickly, the couple signed a Netflix deal that was reportedly worth $100 million.
Now, however, The Sun is reporting that the deal won’t be renewed when it expires in September. This, however, doesn’t mean there won’t be any future collaborations between the two and the streaming service. The second season of With Love, Meghan, for example, is set to premiere this fall on Netflix. However, Netflix’s strategy now seems to be moving away from large, multi-project agreements, which is why Harry and Meghan’s deal won’t be renewed. The same thing happened with the streaming giant’s deal with Former President Barack Obama and Michelle Obama.
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“There’s no animosity from either side,” a source told The Sun. “Things have just run their course.”
Harry and Meghan’s collaboration with Netflix has produced With Love, Meghan, which ranked at No. 383 with 5.3 million views, Polo, which was ranked No. 3,436 with 500,000 views, and, of course, the 2022 docuseries Harry & Meghan, which remains Netflix’s most-watched documentary debut to date.
“Netflix were clever in that they got a hell of a lot of viewers for the first documentary series, and knew, realistically, it would prove the zenith of content from the Montecito pair,” the source told The Sun. “They’re not unhappy with how things turned out — they got those initial hits, and produced one of the most talked-about shows of all time,” the source added.
This all comes as recent reports about the couple’s finances painted a not-so-rosy picture. Sources recently told Page Six that the two let go of several staff members. “It’s the same old story – they cycle through staff as quickly as normal people cycle through toilet paper. Milk lasts longer than their employees,” said one royal source.
“This isn’t strategy — it’s survival,” one source told celebrity gossiper Rob Shuter. “They’re running out of money, and now they’re running out of people.” Another royal source said that layoffs were inevitable for the former royal family members. “They don’t have the money to keep the team they built,” the source said. “They tried to recreate the royal court — but California doesn’t do crowns on credit.”
But whether this is reality or just perception is a valid question. Very recently, Markle got candid about money while speaking to billionaire Spanx founder Sara Blakely on an episode of the podcast “Confessions of a Female Founder.” During the episode, Markle discussed how she wished she had a healthier mindset about it, instead of the constant “fear” of not having enough.
“So many women, especially, we’re taught to not even talk about money,” Markle said. “And there’s lots of guilt mentality surrounding having a lot,” she explained. “And at the same time, there’s a scarcity mindset that it’s easy to attach to, of like ‘I’ll never have enough.”
Considering the couple’s net worth, it’s unlikely they really are running out of money. But how this continues to develop after the deal with Netflix is up and their kids grow is something people will surely keep an eye on.
