On 10 January 2023, Prince Harry and his wife Meghan announced that they would no longer receive money from the Royal Family. This means that the couple will now be relying on their own income, which will come from commercial arrangements.
The announcement comes after the couple stepped back from their roles as senior members of the Royal Family in January 2020. Since then, the couple have been living in the United States and have been pursuing their own business interests.
The Royal Family has traditionally provided a financial allowance to its senior members, including Prince Harry and Meghan. This allowance is funded by the Sovereign Grant, which is a fund provided by the British government to the Royal Family.
However, the couple will no longer be receiving this allowance, and will instead be relying on their own income. It is unclear what these commercial arrangements will be, but it is likely that the couple will be pursuing a variety of business opportunities.
Prince Harry and Meghan have already started to make their own money, with the couple launching their own production company, Archewell Productions, in September 2020. The company has already signed a deal with Netflix, and is expected to produce a variety of content for the streaming service.
The couple are also expected to make money from public speaking engagements, and have already signed a deal with the Harry Walker Agency, which is a leading speaker’s bureau.
It is clear that Prince Harry and Meghan are no longer relying on the Royal Family for financial support, and are instead looking to make their own money. This is a significant change for the couple, and it will be interesting to see how their business ventures progress in the coming years.