General News about the Sussex Family, Part Two: April-August 2020

[Eskimo]

Yeah you're right there are plenty of MBA's. And some how there are many people who work high up in the business world with no business degree. Companies like people who have life experience and bring different ideas to the board. Many boards will have celebrities, will have veterans, and other areas that bring a different view to their company.

I know, Megan is a 'moderate actress' and Harry is the party prince

Meghan:
-seven years on a very successful television show in a starring role, as well as tv movies and guest spots on things like Chopped
-her own clothing line with Reitmans
-a very successful lifestyle blog
-work with the UN, One word, USO and World Vision on womens rights and clean water campaigns
-also brings the perspective of a bi-racial woman in these times

Harry:
-actively served in the military- which is a draw for companies
-His involvement with working with veterans both with Invictus and Walking with the Wounded gives him a good perspective and view on veteran affairs
-practical experience working in nature conservation in Africa

There is plenty that they could be asked to speak about for talks. And that companies could see them bringing to their company as well.

Do you realize how many actresses in Hollywood have everything you claim Meghan brings to the table and more? Harry only has his military service and even that was not really on the front lines

Edit: Meghan claimed to be Caucasian when auditioning for roles. If she starts lecturing on race relations, how do you think that bit of information will play in the court of public opinion?

 

[ACO]

Meghan claimed to be Caucasian when auditioning for roles. If she starts lecturing on race relations, how do you think that bit of information will play in the court of public opinion?

Meghan never claimed to be Caucasian. Where is there even coming from? She has always been very outspoken about her mixed heritage. Proud of it. So please provide where she claimed she was solely Caucasian.

 

[Curryong]

I'm getting really tired of Harry's army service being disparaged. Harry served twice in war zones and did come under fire during the first tour, while serving with Gurkha units in Afghanistan. On the second tour he was in Apache helicopters and like all helicopters in a war zone they are susceptible to ground fire from insurgents.

 

[Jacknch]

Let's move on please.

Members are reminded to provide sources for any claims they wish to make or information they wish to impart. Further posts of that type which do not provide a source will be deleted without notice.

 

[Osipi]

When Charles ascends to the throne and William takes over the Wales empire which includes the Duchy of Cornwall, do you think Charles will continue to support Harry's family, or will William take over that responsibility? It would be great if this becomes a moot point due to H and M earning substantial income.

Its my understanding that the Duchy of Cornwall provides a private income for the Duke of Cornwall to support his family. This is what Charles is doing now as the present Duke. When William becomes the Duke of Cornwall, he'll support his own family. Charles, as monarch, can use his private income from the Duchy of Lancaster to support his own family much like the Queen does today with Anne, Andrew, Edward and some of her other relatives (not exactly sure here how much financing or supporting of her family she does).

So, no, financing H&M will never fall to William to support financially if needed. I, too, also hope that the Sussexes will find they're able to support and maintain themselves going into the future. Time will tell.

 

[rominet09]

I really believed that Harry had received a huge inheritance from his mother....

 

[acdc1]

Its my understanding that the Duchy of Cornwall provides a private income for the Duke of Cornwall to support his family. This is what Charles is doing now as the present Duke. When William becomes the Duke of Cornwall, he'll support his own family. Charles, as monarch, can use his private income from the Duchy of Lancaster to support his own family much like the Queen does today with Anne, Andrew, Edward and some of her other relatives (not exactly sure here how much financing or supporting of her family she does).

So, no, financing H&M will never fall to William to support financially if needed. I, too, also hope that the Sussexes will find they're able to support and maintain themselves going into the future. Time will tell.

Thank you for providing such a clear response to this. I had been wondering this as well; it makes a lot of sense. I’m assuming Charles could continue supporting them in some capacity with the Duchy of Lancaster money even though they aren’t working royals?

I think they will find a way to support themselves financially on their own, too, especially once the world has opened up a bit more. They also have money of their own- Meghan has some from her previous acting work, I’m sure, and I believe Harry inherited from his mother.

 

[Denville]

Thank you for providing such a clear response to this. I had been wondering this as well; it makes a lot of sense. I’m assuming Charles could continue supporting them in some capacity with the Duchy of Lancaster money even though they aren’t working royals?

I think they will find a way to support themselves financially on their own, too, especially once the world has opened up a bit more. They also have money of their own- Meghan has some from her previous acting work, I’m sure, and I believe Harry inherited from his mother.

Yes tehy have money of their own but it is not enough for them.

 

[poppy7]

I really believed that Harry had received a huge inheritance from his mother....

He received a few million (it is rumoured) and also inherited from the Queen Mother I believe. Huge amounts to a middle class person who would make it last years (if not beyond their lifetime) while living extremely comfortably. But they spend a huge amount of money to maintain their lifestyle. To buy, furnish, and maintain a house such as the one that they are currently living in, would eradicate (and then some) his entire inheritance and he has never made money.

William for example had similar if not the same inheritance and it is what the family live on. By live on I mean use for discretionary purchases. Housing, security, work wardrobe, work staff (I am unsure if they pay their personal staff themselves but in any case that is small) is all provided. They buy their personal holidays, clothes, food, 'stuff' for themselves. May pay for kids school bills too or Charles may pay for that. I don't know.

Harry would be wiped out in a milisecond if he had to pay for all those things.
He can afford to send Archie to private school and have a nice house and nice things but not the amount of things the lifestyle he wants demand.

 

[muriel]

I really believed that Harry had received a huge inheritance from his mother....

He did indeed.

When Diana died, her estate was valued at just shy of £20m, most of it coming from her divorce settlement of £17m. That would have given Harry around £10m. Assuming Harry has lioved off the financing Charles provides him and has not touched the money inherited from Diana, that would be worth around £20m now.

Further, Harry would no doubt have inherited some money from the Queen Mother, and possibly from Diana's father, Johnnie Spencer.

So all in all, he will have the odd penny or two to his name.

 

[muriel]

I’m assuming Charles could continue supporting them in some capacity with the Duchy of Lancaster money even though they aren’t working royals?

The question, to me, is whether a man in his late 30s, who left The Firm is a less than graceful way, to be financially independent, will need suport from Daddy in the medium term. Further, given the c£20m inheritance he has, even if he does not make a penny going forward, does he still need Daddy's money?

 

[Denville]

The question, to me, is whether a man in his late 30s, who left The Firm is a less than graceful way, to be financially independent, will need suport from Daddy in the medium term. Further, given the c£20m inheritance he has, even if he does not make a penny going forward, does he still need Daddy's money?

Because his lifestyle will cost a lot more than the income from the money Di and the QM left him. William and H both get about £2M from the Duchy of Cornwall to help with their expenses fro their public life and I suppose some of their private life expenses as well. And as has been said more than once, he had security in the UK paid for by the tax payer. Now he will have to cover his own security and he has moved to an expensive part of the US and is not earning anything.. He is living in a borrowed house, he's probably not paying rent, and I would imagine that Charles is still letting him have the £2M for security and life expenses. If H had been happy to live on what he had from Diana, he would have bought a house somewhere more modest. Even then I suspect he'd need help for paying for security..

 

[Osipi]

So all in all, he will have the odd penny or two to his name.

Especially if he was smart enough to invest those inheritances to make money. As its been 23 years since Diana died, those investments may have grown by leaps and bounds depending on what he's invested in perhaps even to the point that he could live comfortably off the interest accrued over the years.

Investing is how wealthy people stay wealthy. Putting the money to work for them. ?

 

[muriel]

Because his lifestyle will cost a lot more than the income from the money Di and the QM left him. William and H both get about £2M from the Duchy of Cornwall to help with their expenses fro their public life and I suppose some of their private life expenses as well. And as has been said more than once, he had security in the UK paid for by the tax payer. Now he will have to cover his own security and he has moved to an expensive part of the US and is not earning anything.. He is living in a borrowed house, he's probably not paying rent, and I would imagine that Charles is still letting him have the £2M for security and life expenses. If H had been happy to live on what he had from Diana, he would have bought a house somewhere more modest. Even then I suspect he'd need help for paying for security..

I was answering the very specific question if he had inherited a lot of money from his mother.

His lifestyle in California is likely to be expensive, and it is difficult to tell how much his wife is willing to contribute to expenses from the monies she had earned previously.

 

[muriel]

Especially if he was smart enough to invest those inheritances to make money. As its been 23 years since Diana died, those investments may have grown by leaps and bounds depending on what he's invested in perhaps even to the point that he could live comfortably off the interest accrued over the years.

Investing is how wealthy people stay wealthy. Putting the money to work for them. ?

I do not believe I have the information to comment on how capable an investor Harry was, or what his risk taking ability was.

 

[Denville]

I do not believe I have the information to comment on how capable an investor Harry was, or what his risk taking ability was.

The money would be looked after by his trustees and advisors... but its not going to pay for a house like the one he's living in, or security, or life in LA. I dont know what money Meghan made from her work, but again its unlikely to be enough to fund their lifestyle.

 

[Osipi]

I do not believe I have the information to comment on how capable an investor Harry was, or what his risk taking ability was.

This is really the ultimate bottom line. None of us have enough information to credibly report on what Harry and Meghan's financial status is and what they can afford or not afford or even, really, what their personal lifestyle entails. For all we know, they cook all their food at home and buy in bulk like I do because it saves money.

We can guess and speculate until the cows come home (still on a quest to figure out where these cows go) but we'll never see a bank statement or itemization of what they pay for anything. Ever.

 

[poppy7]

He did indeed.

When Diana died, her estate was valued at just shy of £20m, most of it coming from her divorce settlement of £17m. That would have given Harry around £10m. Assuming Harry has lioved off the financing Charles provides him and has not touched the money inherited from Diana, that would be worth around £20m now.

Further, Harry would no doubt have inherited some money from the Queen Mother, and possibly from Diana's father, Johnnie Spencer.

So all in all, he will have the odd penny or two to his name.

A lot of that went on tax. Deatj tax is huge in the UK. Most wealthy people gift and trust over money way before they die to avoid it. But she died tragically young. Between the two Harryborginally inherited under 10 million. A huge amount and that has doubt increased in interest as I am sure he didn't really touch it before now.

 

[Heavs]

That's probably the most interesting question about them and their plans right now. To be "financially independent" with what they have and wise investments whilst living a quieter or more modest (but still luxurious) lifestyle is one thing, it is quite another when looking at the kind of house they might want to buy for themselves in the US (like the one they're renting) in an expensive place, along with the clothes, toys, hoildays, school fees and security to go with it is quite another one might call it "Keeping up with the Clooneys/Fosters/Winfreys/Gateses" and even a lot of other well off people would stuggle.


They're somewhat limited in what they can do(talking directly about the BRF or using their titles) and might end up with limited interest after a few years if they *don't* have that extra glamour attached and end up like every other wannabe power couple. The after dinner circuit won't last forever, if it gets started in this climate.

Unless they come up with a way to monetise their philantropy in a way that isn't tacky or seen as hypocritical and skimming off donations (happened to a lot of charities) they might be dependent on Charles to a certain extent for years to come. I assume they won't want to be metaphorically putting their faces on tea towels or advertising everything that offers like Sarah did. Zara and Mike did quite well out of being brand ambassadors but again it's not a lot of money for a public lifestyle and rich friends won't support them forever.

 

[Eskimo]

Its my understanding that the Duchy of Cornwall provides a private income for the Duke of Cornwall to support his family. This is what Charles is doing now as the present Duke. When William becomes the Duke of Cornwall, he'll support his own family. Charles, as monarch, can use his private income from the Duchy of Lancaster to support his own family much like the Queen does today with Anne, Andrew, Edward and some of her other relatives (not exactly sure here how much financing or supporting of her family she does).

So, no, financing H&M will never fall to William to support financially if needed. I, too, also hope that the Sussexes will find they're able to support and maintain themselves going into the future. Time will tell.

H&M have to worry about the RF financing them when William becomes King. At that point, if they are not yet self sufficient , they will be completely at William's mercy.

 

[Denville]

A lot of that went on tax. Deatj tax is huge in the UK. Most wealthy people gift and trust over money way before they die to avoid it. But she died tragically young. Between the two Harryborginally inherited under 10 million. A huge amount and that has doubt increased in interest as I am sure he didn't really touch it before now.

Yes I remember that they had to pay taxes on the legacy, but since tehy didn't get the money for several years, til they were adults, I am sure that their financial people have kept the money safe and it has increased. But it is not enough to buy houses in Hollywood and live in that style. We do have a fair idea of waht money Harry has...

 

[Denville]

H&M have to worry about the RF financing them when William becomes King. At that point, if they are not yet self sufficient , they will be completely at William's mercy.

Which is why William was involved in the talks in January. If they dont make the sort of doubloons that they are hoping for, they may need a bit of extra money from the RF for years to come...

 

[Eskimo]

I do not believe I have the information to comment on how capable an investor Harry was, or what his risk taking ability was.

I am sure Harry was not doing any of the investing-it was left to professionals. I remember reading that he was getting around 400k pounds per year in interest income from his trusts/inheritances (before taxes).

He would possibly have to use his entire trust (and possibly more) to afford the kind of home they supposedly want in LA.

 

[Osipi]

Which is why William was involved in the talks in January. If they dont make the sort of doubloons that they are hoping for, they may need a bit of extra money from the RF for years to come...

If so, then its none of our concern as its a private family matter what they do or don't do with their private incomes. They'll cross that bridge when the time comes and at this point, the bridge ain't even been built yet.

 

[Mirabel]

He did indeed.

When Diana died, her estate was valued at just shy of £20m, most of it coming from her divorce settlement of £17m. That would have given Harry around £10m. Assuming Harry has lioved off the financing Charles provides him and has not touched the money inherited from Diana, that would be worth around £20m now.

Further, Harry would no doubt have inherited some money from the Queen Mother, and possibly from Diana's father, Johnnie Spencer.

So all in all, he will have the odd penny or two to his name.

But in the environs where they now live, that kind of money is a pittance.
Some of their neighbors make that amount for one movie!

If they have to start funding themselves, Harry's inheritance won't last long.

 

[poppy7]

I am sure Harry was not doing any of the investing-it was left to professionals. I remember reading that he was getting around 400k pounds per year in interest income from his trusts/inheritances (before taxes).

He would possibly have to use his entire trust (and possibly more) to afford the kind of home they supposedly want in LA.

And of he burned through that, a year, as a single man then there is no hope. What exactly did he have to pay for? Holidays, household expenses, food etc. I bet he did though. They just live in a different world.

Meghan's work wardrobe alo e would have been worth over a 100,000 a year and was paid for by
Charles.

 

[Eskimo]

And of he burned through that, a year, as a single man then there is no hope. What exactly did he have to pay for? Holidays, household expenses, food etc. I bet he did though. They just live in a different world.

Meghan's work wardrobe alo e would have been worth over a 100,000 a year and was paid for by
Charles.

That is unfortunately what they did not think about/realize when they stepped down as senior royals. The RF is only worth a few hundred million but they live like they are worth a few hundred billion. It costs a lot, a lot of money to replace things that were subsidized by the state due to their status.

 

[poppy7]

That is unfortunately what they did not think about/realize when they stepped down as senior royals. The RF is only worth a few hundred million but they live like they are worth a few hundred billion. It costs a lot, a lot of money to replace things that were subsidized by the state due to their status.

The royal family themselves famously don't. I dont know about William and Harry but the generation above them hardly spend money at all. William and Harry were a bit...let's pop to Africa for a weekend safari. Bea and Eug were always on holidays in their 20's. But also they were of that generation. William now appears to spend nothing beyond a plush summer holiday and occasionally a skiing holiday. They spend all their time at Amner. Harry still has quite the lifestyle.

 

[muriel]

Meghan's work wardrobe alo e would have been worth over a 100,000 a year and was paid for by
Charles.

A custom made maternity gown worn one evening in Morocco by a French fashion house is meant to have cost clost to £100,000. The dress worn for the engagement photoshoot was meant to have cost c£50,000. The annual numbers were not small.

 

[muriel]

That is unfortunately what they did not think about/realize when they stepped down as senior royals. The RF is only worth a few hundred million but they live like they are worth a few hundred billion. It costs a lot, a lot of money to replace things that were subsidized by the state due to their status.

I am sure a life changing decision, like the decision to step down, would have been taken after careful consideration of all the facts. I have no doubt H&M would have fully considered things like their income, likely expenditure, their titles, security, charitable patronages and military associations before making their decision. ?