Prince Harry’s Inheritance Crisis: $20 Million Spent, Staff Slashed, and a Five-Year Countdown

Key facts

• Prince Harry inherited an estimated $20 million-plus from Princess Diana and the Queen Mother.
• The inheritance has 'largely been spent' according to reports.
• The Sussexes have cut their staff from 16 full-time employees to five.
• The couple faces a $4 million annual security bill.
• Dan Wakeford, former editor of People and Us Weekly, reported on the financial crisis.
• Harry reportedly lacks basic awareness of costs, while Meghan is more careful.
• The couple has multiple mortgages and has exhausted paid TV deals.

The Inheritance That Vanished

Prince Harry, Duke of Sussex, has reportedly spent the bulk of the estimated $20 million inheritance left to him by his mother, Princess Diana, and his great-grandmother, the Queen Mother. The revelation comes from Dan Wakeford, former editor of People and Us Weekly, who has closely covered the Sussexes for years. the money has 'largely been spent' since Harry and his wife, Meghan Markle, moved to the United States.

A Princely Disregard for Money

Wakeford paints a picture of a prince raised in a world where everything was provided, leaving him with little understanding of financial realities. 'Harry – raised in a world where everything was provided – reportedly lacks basic awareness of what things cost,' Wakeford said. In contrast, Meghan is said to have a sharper sense of the need for frugality, having come from a more ordinary background. The couple has reportedly been forced to 'cut back,' reducing their household staff from 16 to just five employees.

The Weight of Freedom

The financial strain is compounded by the couple's decision to step back from royal duties, which has come with significant costs. Among the most burdensome is a $4 million annual security bill, which they must now cover themselves. Additionally, the couple has multiple mortgages and has already exhausted the lucrative deals with Netflix and other platforms that once provided a steady stream of income. the big flashy numbers associated with their major deals were far off from what was reported.

A Five-Year Countdown

The situation has left the Sussexes 'wildly unhappy,' who oversaw the bombshell People issue in 2019 where five of Meghan's friends defended her, now reports that the couple is in a precarious position. With a five-year countdown until everything changes, the stakes are high. The exact nature of this countdown remains unclear, but it likely involves the expiration of existing contracts or a shift in their financial strategy.

A History of Princely Profligacy

Prince Harry is not the first royal to struggle with money. His father, Prince Charles, had to borrow from the Queen to pay for his divorce from Diana. Prince Philip once blurted out, 'We go into the red next year … I shall have to give up polo.' And Prince Andrew was sued for failing to pay $12 million he owed after buying a Swiss chalet. The pattern suggests a systemic issue within the royal family, where members are shielded from financial realities until they are forced to confront them.

What Comes Next

The Sussexes are now in a period of retrenchment, cutting costs and seeking new revenue streams. With their staff reduced and their spending curtailed, the couple must navigate a future without the safety net of royal funding. Wakeford's reporting suggests that Meghan is taking the lead in managing the household finances, while Harry is learning a crash course in the value of money. The coming years will test whether the couple can sustain their independence or whether they will be forced to seek a rapprochement with the royal family.

The bottom line

• Prince Harry's inheritance from Diana and the Queen Mother, estimated at over $20 million, has been largely spent.
• The couple has cut their staff from 16 to 5 and faces a $4 million annual security bill.
• Harry reportedly lacks financial awareness, while Meghan is more cautious with spending.
• The Sussexes are described as 'wildly unhappy' due to their financial situation.
• The couple has exhausted major paid TV deals and is now in a period of cost-cutting.
• A five-year countdown looms, with unknown but significant consequences for their future.