Who finances Harry and Meghan?
- January 10, 2020
- Andrew S Gillis
The royal couple says that about 95% of their office costs are spent by Prince Charles, Prince Harry’s father, Prince Charles.
In addition to Prince Harry and Meghan, they bear the public duties of Prince William and Catherine, as well as some of their private expenses.
When Meghan officially became part of the royal family, the financing amounted to more than five million pounds ($ 6.5 million) in 2018-19.
The money comes from Prince Charles’ revenues from the Dutch Office of the Colonel. It is a large collection of property and financial investments that raised £ 21.6m ($ 28.2m) last year.
In addition, about five per cent of Sussex’s revenue comes from a ‘Sorvereign Grant’. The money is paid by the government to the royal family to cover government responsibilities and maintenance costs for the royal palace.
These figures do not include security costs, which are calculated separately.
The “Sovereign Grant” is run by the proceeds from the Crown State. The Crown State is in fact commercial property owned by the royal family.
Prince Harry and Meghan will stop receiving this money if they withdraw from their royal duties.