What Financial Independence Means for Prince Harry and Meghan Markle

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Prince Harry and wife Meghan Markle are stepping back from their roles as senior members of Britain's royal family, with Queen Elizabeth II agreeing to allow the couple to move to Canada part-time. 

But what exactly does financial independence look like for the royal duo?

According to Forbes, the British royal family is worth $88 billion. Meghan Markle and Prince Harry have an estimated combined personal fortune of $30 million, according to Business Insider.

Currently, they get money from two main sources: the government and their family.

British taxpayers support the royal family through a “sovereign grant.” In 2019, that grant amounted to $104 million, of which about $3 million went to Prince Harry and Markle. With their new move, the duo will lose access to funding from the sovereign grant. But this money only accounts for five percent of their total office expenses.

The bulk of their income (about 95 percent) comes from family money, including interest on inheritances and real estate.

In their current roles, Prince Harry and Meghan Markle are prohibited from earning a professional income.

This will change with their “new working model,” according to a website the pair launched with details on their plan.

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