The Duke and Duchess of Sussex, Prince Harry and Meghan Markle are stepping down as ‘senior royals.’ Their announcement has shocked many.
“We intend to step back as ‘senior’ members of the Royal Family and work to become financially independent, while continuing to fully support Her Majesty The Queen.”
The royal couple specified that they will ‘no longer receive funding through the Sovereign Grant,’. This money comes from the ‘Crown Estate,’ a body that governs previously royal properties that are now neither owned by the state nor the monarchy. The Sovereign Grant is basically like a royal pension fund.
Now that there’s no more living off a royal pension, how will the royal couple make a living?
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Lets do the maths
In 2019, the Sovereign Grant only covered 5% of the Duke and Duchess of Sussex’ official expenses. The remaining 95% was paid for by an income set aside by Prince Charles.
While that was not specified in the Sussex Royal announcement, Meghan Markle alone is worth some 2.2 million US dollars. If that is enough to start an initiative, surely it could also fund a royal lifestyle?
The Duke and Duchess of Sussex announced that they will be living between Britain and North America. Just to soften the blow, they say they will still continue to support the Queen though.
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According to BBC, a Buckingham Palace spokeswoman said;
“Discussions with the duke and duchess on their decision to step back were at an early stage”,
There was no mention of what that could imply. She added:
“We understand their desire to take a different approach, but these are complicated issues that will take time to work through.”
Who Wanted to Leave? Prince Harry or Meghan Markle?
While most will immediately point fingers at the young duchess Meghan Markle for having pushed for a leave, it might as easily have been Prince Harry’s decision.
From his previous party lifestyle to his now royal first marriage, Prince Harry has been the odd one in the lot. As far back as 2017, Harry has been voicing ideas of leaving the royal life behind.
In a 2017 interview with Mail On Sunday, Prince Harry admits to considering giving up his title.
“I felt I wanted out but then decided to stay in and work out a role for myself, … my family and I don’t want to be just a bunch of celebrities, but instead use our role for good.”
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This explains why Prince Harry and Meghan Markle announced that they’re starting their own charity with their royal exit.
Prince Harry also recalled his time in the British military;
“Best escape I’ve ever had.”
As for Megan Markle, she left behind a successful showbiz career to marry Prince Harry. It is yet to be seen whether she intends to go back to it.
