Meghan Markle, known for her role as an actress in the hit TV series Suits, captured the world's attention when she married Prince Harry and ascended to the prestigious title of Duchess of Sussex. Both Meghan and Harry have had complicated relationships with the British royal family and their titles, leading to a series of noteworthy events that made headlines worldwide.
While Meghan's life took an extraordinary turn through her marriage to a prince, the allure of royal status brought more than just a title. It significantly elevated her net worth and introduced her to a lifestyle brimming with opulence and grandeur. Known to relish the finer things in life, the former actress found herself navigating a world of luxury as a member of the British royal family.
Shortly after joining the royal ranks, Meghan Markle was cautioned about exercising restraint with her spending habits, as a royal correspondent revealed the warning against indulging in "massively extravagant" expenses. This revelation piqued the curiosity of many, prompting questions about how Meghan manages her wealth and what her extravagant lifestyle entails...
Meghan Markle Was Warned About Her "Massively Extravagant" Spending Habits
Jennie Bond, a highly respected former Royal Correspondent at the BBC, didn't shy away from cautioning the Duchess of Sussex, Meghan Markle, about her spending habits, citing the public's disapproval. Bond, renowned for her 26 years of experience reporting on the royal family, possesses a deep understanding of the inner workings of the British royal family.
Meghan's official introduction to the Royal Family in 2018 marked a new era, reminiscent of Princess Diana's marriage to Prince Charles in 1981. Many hopeful observers anticipated that the former actress would play a pivotal role in modernizing the monarchy, bringing it into the 21st century.
Having witnessed the public's response to Meghan's lifestyle choices, Bond recognized the potential backlash her extravagant spending could generate. In a candid interview with Yahoo! Life in 2019, she offered a word of caution to the talented actress-turned-royal.
"What I think that Meghan has to be careful of is that she’s both an A-list celebrity and a senior royal. I am getting the feeling that the public doesn't appreciate her indulgence in spending vast sums of money," Bond shared.
Acknowledging Meghan's personal wealth and the freedom it affords, Bond stressed the importance of maintaining a balanced approach. She emphasized that while Meghan could afford to be massively extravagant, it may not resonate well with the public sentiment.
During the time of the interview, reports circulated that Meghan's designer wardrobe alone was valued at over half a million dollars. Criticism arose when her royal wardrobe for a three-day tour in Monaco was estimated to be worth $136,000.
In addition to her caution about spending, Bond advised Meghan to handle the media with care, urging her to avoid excessive displays of celebrity status. Recognizing the scrutiny Meghan faced from various sources, Bond encouraged her to navigate the challenges and maintain a positive public image.
What Is Meghan Markle's Net Worth Since Joining The Royal Family?
When we consider Meghan Markle's net worth, it's important to recognize her substantial acting career before tying the knot with Prince Harry at the age of 36. With her success in showbiz, it's no surprise that reports estimated her pre-marriage wealth at around $5 million. However, their decision to step back as senior royals did not alter their combined net worth of $60 million, as that figure represents their independent fortunes.
Since their departure from royal duties, Meghan and Harry have shouldered a greater financial burden. They no longer benefit from the Sovereign Grant, which previously covered 5 percent of their administrative and household expenses. Additionally, they repaid £2.4 million ($3 million) of public funds used for renovations to Frogmore Cottage, their residence in the UK.
Speaking of their new abode, their Santa Barbara home, valued at $14.65 million, reportedly involved a $9.5 million mortgage. Furthermore, the couple struck a lucrative $25 million deal with Spotify for their Archewell Audio podcast series.
Reflecting on their partnership with Spotify, Meghan shared her passion for connecting with people and hearing their stories. She emphasized the power of kindness and compassion, values that underpin their podcast's content.
In September 2020, the couple also announced a partnership with Netflix, with a focus on creating informative and hopeful content. As new parents, they expressed a desire to produce inspiring family programming, leveraging Netflix's vast reach to make a difference.
While reports speculated that the Netflix deal alone was worth $150 million, some insiders noted that Harry and Meghan, credited as producers rather than content creators, may not command such astronomical figures. Nonetheless, the couple confirmed that the Netflix agreement allowed them to fully reimburse the costs of renovating Frogmore Cottage. Additionally, there have been whispers of a book contract for Prince Harry, potentially fetching a price tag of at least $20 million.
The Truth About Meghan Markle's Spending Habits
Back in July 2020, Duchess Meghan and Prince Harry made waves with their awe-inspiring $14.65 million Santa Barbara property. Nestled amidst tiered rose gardens and cypress trees, the stunning estate boasts an impressive nine bedrooms, a staggering 16 bathrooms, a library, pool, gym, sauna, tea house, and even a charming children's cottage. It's a testament to their penchant for luxury living.
When it comes to fashion, Meghan Markle doesn't hold back. In 2018, a royal fashion blog examined the spending habits of various blue-blooded individuals, and Markle emerged as the undisputed champion, splurging an astonishing $500,000 on her wardrobe that year—five times more than Kate Middleton, as revealed by textile market intelligence platform Yarns and Fibers.
The Duchess is known for her affinity for high-end designer brands, donning breathtaking outfits like the $3,500 Oscar De La Renta gown, the $4,700 Armani dress she wore during her Oprah interview, the $18,000 Givenchy dress, and the jaw-dropping $75,000 Ralph & Russo gown she donned for her engagement photos with Prince Harry, as reported by Insider.
And if you thought that was extravagant, let's not forget the $157,000 Stella McCartney silk crepe dress she wore at her wedding reception or the magnificent $265,000 Givenchy wedding gown that stole the show.
When it comes to wheels, Meghan Markle has a penchant for luxurious vehicles. According to Autobizz, she cruises through town in a stunning $122,000 Range Rover Vogue, a sleek $45,000 Lincoln MKC, a stylish $500,000 Mercedes-Benz S-Class, a commanding $80,000 Cadillac Escalade, a refined $30,000 Toyota Camry, and a sophisticated $75,000 Lexus LS. Her taste in automobiles perfectly aligns with her penchant for the finer things in life.
ncG1vNJzZmivp6x7tbTErZ%2Bippeoe6S7zGiknp%2BYlrtuucCroqWdXaTCtb7AoJyoraNiu6bAjLCmq6yYYsCxsc2doKefXaHCucHRsmSloZaawLXFy55m