Prince Harry and Meghan Markle’s Lavish Lifestyle Raises Concerns at Buckingham Palace: Experts

Prince Harry and Meghan Markle have been living a lifestyle that comes with a hefty price tag of $20 million a year, causing concern within the realm of Buckingham Palace, according to experts. Since stepping down from their royal roles four years ago, the couple expected to achieve financial independence and secured lucrative deals with major platforms like Netflix and Spotify, although the latter partnership was terminated last year. Despite their high-profile projects, including a controversial docuseries and Harry’s memoir, there are worries escalating about the sustainability of their lavish lifestyle.

As per The Mirror, when the Sussexes left their royal duties, they also yielded financial support for their security, which is now a heavy expense they must cover independently. The couple has also abode in a $14.6 million home in the exclusive Montecito neighborhood in California, adding to their financial strain.

Royal expert Matt Wilkinson shared concerns, stating, "They've got huge outgoings, security, mortgage, everything. When I've spoken to people out there, they've said they are obsessed with security, [and] they don't want to live in a smaller house, they absolutely love the house. I think they had a $9 million mortgage when they took it out that they still had to pay, and [Harry’s] had his money from Spotify, he’s had his money from Netflix. There is a worry behind the walls of Buckingham Palace of what happens when the money runs out … [and whether] he will at some stage have to find more money from other outlets."

Kate Nicholl, the royal editor of Vanity Fair, shed light on the estimated expenditure of living in Montecito at the level the couple does, stating, "I was speaking to someone in Montecito who said you can't live in Montecito the way they're living without it costing about $20 million a year."

Harry and his wife's financial challenges have been amplified by their need to fund their security, handle their mortgage, and maintain their luxurious home. Despite Harry’s income from Netflix and Spotify deals, there is no indication of the couple’s long-term financial plans and whether they will seek additional income sources.

While the couple signed a substantial five-year deal with Netflix in 2020, current uncertainty regarding their future projects has raised questions. The chief content officer of Netflix, Bela Bajaria, revealed during an event in Hollywood that the couple is working on 'a couple of unscripted things,' although no specific details were shared. The projects are believed to include documentaries and a film adaptation of the novel Meet Me At The Lake.

Additionally, the couple signed a lucrative deal with Spotify for podcast production after parting ways with Netflix. Meghan hosted the Archetypes podcast series, featuring discussions on stereotypes against women with notable guests. But things then went downhill. "Spotify and Archewell Audio have mutually agreed to part ways and are proud of the series we made together," the statement read.

The termination of the Spotify deal could further add to the financial challenges the Sussexes may face in maintaining their opulent lifestyle. As concerns grow behind the palace walls about the sustainability of their lifestyle, Prince Harry and Meghan Markle continue to navigate their path in the world outside the royal sphere, juggling financial independence with the demands of their high-profile projects.