Is it really possible for Prince Harry and Meghan Markle to become financially independent?
When Prince Harry and Meghan Markle made their shock announcement to “step back” from their roles as senior royals last week, one of the reasons they cited was their desire to become “financially independent”. Previously funded by the Sovereign Grant (five per cent) and Prince Charles’ Duchy of Cornwall (95 per cent), these led to many questions about how the royal couple hoped to earn their keep. Prince Charles was also quick to express his stance that he would stop funding the Duke and Duchess of Sussex if they were to step away from their duties.
Now, following the Sandringham “summit” on Monday that saw Queen Elizabeth, Harry, Prince William, and Prince Charles discussing the couple’s future roles, this remains unclear, although the Queen has given her blessings—albeit regrettably—to help Harry and Meghan transition into their new roles.
While it is not uncommon for non-working royals to establish their own careers, senior royals, like Harry was, haven’t had much luck in that area.
Take Queen Elizabeth’s youngest son Prince Edward, for instance, who was determined to carve a career in entertainment. After producing an ill-received programme The Grand Knockout Tournament and subsequently a failed venture in launching television production company Ardent Productions, Edward stepped down from his role in 2002 and devoted his time to public duties in support of the Queen instead. Edward and his wife Sophie, Countess of Wessex are currently funded by the Sovereign Grant for official duties and the Queen’s funds from the Duchy of Lancaster for their daily lives and the running of their royal residence.
Most recently, the Queen’s second son Prince Andrew has also been through public scrutiny for his links to financier and sex offender Jeffrey Epstein, a friend he had made during his work as an international trade emissary for the British government, before he was forced to step down from the position. Following a disastrous interview to BBC Newsnight, Prince Andrew has since been removed from his official royal duties and has been lying low ever since.
As we await more announcements from Buckingham Palace to clear up our doubts, we take a look at the success stories from financially-independent royals who were raised away from the throne.