Meghan Markle, an American philanthropist, humanitarian, and former actress, has a combined net worth of $60 million with her husband, Prince Harry. Before marrying Harry, Meghan’s individual net worth stood at $5 million, while Harry entered the marriage with a fortune of $20 million, much of which came from a trust fund set up by his late mother, Princess Diana.
Royal Titles and Life Changes
When Meghan married Prince Harry in 2018, she became a member of the British royal family. She was given the titles of Duchess of Sussex, Countess of Dumbarton, and Baroness Kilkeel. However, in January 2020, Meghan and Harry made a significant announcement: they intended to step back from their royal duties, leave England, and pursue financial independence. After discussions with Queen Elizabeth II, the couple agreed to relinquish their titles of “His Royal Highness” and “Her Royal Highness.”
Life After Royal Duties: New Ventures and Deals
Post-royal life, Harry and Meghan signed an impressive five-year, $100 million production deal with Netflix in September 2020. Under this deal, the couple will produce feature films, children’s programming, and documentaries. Their entrepreneurial journey continued with an $18 million, three-year podcasting agreement with Spotify, announced in December 2020. In 2023, Meghan also signed with WME, which began representing Archewell.
In August 2020, Harry and Meghan purchased a sprawling estate in Montecito, California, for $14.7 million. They made a $5 million down payment and took out a mortgage of roughly $10 million. Around this time, they also repaid $3 million used to remodel their previous residence in the U.K., Frogmore Cottage.
Early Life of Meghan Markle
Born Rachel Meghan Markle in Los Angeles on August 4, 1981, Meghan is the only child of Doria Ragland, an African-American yoga instructor, and Thomas Markle Sr., a lighting director for television shows. Her parents divorced when she was six. Meghan’s mixed-race heritage and upbringing in Hollywood shaped her perspective on the world. She attended private schools like Hollywood Little Red Schoolhouse and Immaculate Heart High School before going on to graduate with double degrees in theater and international studies from Northwestern University in 2003.
In the early days of her acting career, Meghan Markle faced challenges in finding work and supported herself by working as a freelance calligrapher. Her big break came in 2002 with a small role in the soap opera “General Hospital.” She soon landed other small roles in shows like “Century City,” “The War at Home,” “CSI: NY,” and “Fringe.” Meghan also appeared in films like “Get Him to the Greek,” “Remember Me,” and “Horrible Bosses.”
Despite facing challenges, including the struggle of not fitting perfectly into traditional racial roles, Meghan’s perseverance paid off. She landed the role of Rachel Zane on the hit show “Suits” in 2011. During her seven seasons on the show, Meghan earned $50,000 per episode, amounting to around $450,000 per year.
The Tig and Other Business Ventures
Along with her acting career, Meghan was also a businesswoman. From 2014 to 2017, she ran a successful lifestyle blog called The Tig, which became known for its fashion, beauty, and travel content. She also worked as the brand ambassador for Reitmans, a Canadian clothing retailer, and launched two clothing lines in 2015 and 2016. These lines were incredibly popular and sold out quickly. Meghan reportedly earned around $80,000 per year from these ventures.
Acting Earnings and Suits Salary
At the peak of her acting career, Meghan earned an estimated $50,000 per episode of “Suits,” amounting to an annual salary of about $450,000. Over the course of her time on the show, Meghan made roughly $4 million before taxes.
Before marrying Prince Harry, Meghan Markle was married to actor and producer Trevor Engelson in 2011. The couple divorced in 2013. She also had a long-term relationship with celebrity chef Cory Vitiello before meeting Prince Harry in 2016. Their relationship quickly gained attention, and by November 2017, the couple announced their engagement. They married in March 2018, and in May 2019, Meghan gave birth to their son, Archie. Their daughter, Lilibet, was born in June 2021.
Meghan’s Role in the Royal Family
Meghan’s first public engagement with the British royal family occurred in December 2017 when she participated in a World AIDS Day event. After their wedding, Meghan made her first official appearance as the Duchess of Sussex at a charity event in May 2018. The couple, however, faced intense media scrutiny and public backlash, particularly regarding their privacy and media treatment. In 2019, it was revealed that Meghan had sued The Mail on Sunday for publishing a private letter she wrote to her father. In 2020, the couple made the decision to step back from their royal duties and sought financial independence, officially stepping down on March 31, 2020.
Charitable Work and Advocacy
Before becoming a royal, Meghan was already heavily involved in charity work. She worked with international charity One Young World, spoke at a 2014 summit in Dublin, and toured Afghanistan and Spain with the United Service Organizations. She was also a global ambassador for World Vision Canada and worked with the United Nations Entity for Gender Equality and the Empowerment of Women. After marrying Prince Harry, Meghan continued her charitable work. In 2017, they partnered with Elephants Without Borders and started working with survivors of the Grenfell Tower fire, leading to the creation of the charity cookbook “Together: Our Community Cookbook.” The couple also launched their own charity foundation, Sussex Royal, which was renamed Archewell in 2020.
Real Estate Investments
After stepping down from their royal roles, Meghan and Harry first stayed in Canada and later moved to California. In August 2020, the couple purchased their current home in Montecito for $14.7 million, putting down $5 million in cash. Their new home, a symbol of their new life away from the royal spotlight, is located near Santa Barbara and surrounded by beautiful scenery.
Netflix and Spotify Deals: Shaping Their Future
In September 2020, it was announced that Harry and Meghan had signed a groundbreaking deal with Netflix worth $100 million over five years. This partnership allows the couple to produce scripted content, documentaries, and children’s programming through their production company. The deal has the potential to reach up to $150 million with bonuses and incentives.
In addition to the Netflix deal, Meghan and Harry also inked an $18 million, three-year podcasting deal with Spotify in December 2020. This move marked another step in their path toward financial independence and media ventures beyond their royal life.
Through strategic moves like these, including their real estate purchases, charity efforts, and lucrative deals, Meghan Markle and Prince Harry have built a life focused on both business and social impact.
