Celebrity

Meghan Markle and Prince Harry Have Revealed More Info About Their Plan to Become "Financially Independent"

Meghan and Harry shocked everyone with their decision "step back" from the royal family. Now the question is: How?

by : Patricia Karounos- Jan 10th, 2020

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Prince Harry and Meghan Markle are revealing more details about their plan to become “financially independent” from the Crown after yesterday’s shocking announcement that they would be stepping back from their roles as “senior members” of the royal family.

According to their new website (which sharp-eyed royal watchers noticed was designed by Article, the same Toronto-based company that did Meghan’s now-defunct lifestyle site The Tig), the Duke and Duchess of Sussex “have made the choice to transition into a new working model.” This means they will no longer receive funding through the Sovereign Grant – a.k.a. publicly-funded money that covers the work of the royals, including living and work expenses.

Part of their reason for doing this? Well, the new info on their site says that the Sussexes “value the ability to earn a professional income,” which the Sovereign Grant prevents the royal family from doing. Essentially, Meghan and Harry’s goal is to continue their charity work (and support the Queen) while also earning money independently from the monarchy. Members of the family who aren’t considered “working royals,” like Harry’s cousins Zara Tindall and Princess Beatrice and Eugenie, do not receive money from the Sovereign Grant.

But the website also notes that Meghan and Harry only ever received 5 percent of their annual funding from the Sovereign Grant. The rest of it comes from the Duchy of Cornwall, which is the very British name for the private estate that Prince Charles earns money from. As Charles oversees the Duchy, he decides how it is spent, and, through it, gives money to both Prince William and Prince Harry. It seems that it will be up to Prince Charles if the Sussexes continue to receive money from the fund.

As stated in yesterday’s announcement, Meghan and Harry plan to split their time between the U.K. and North America. While in the U.K., their site says they still plan to stay in Frogmore Cottage (their recently-renovated home in Windsor) – if the Queen allows it, that is. The residence is owned by the Queen, who gave it to Meghan and Harry as a wedding gift. Their argument is that they will continue to support the monarchy and need a place to call home while in the U.K.

At this point, these are all goals Meghan and Harry want to work toward. Timing and logistics are all TBD. As noted by Buckingham Palace yesterday in response to the news, “these are complicated issues that will take time to work through.”