Harry and Meghan’s MEGA millions: Experts reveal the couple could earn a fortune with TV shows, books, brand deals, and more after quitting the royal family – and even stand to outdo the Obamas’ huge $65M book advance
- The Duke and Duchess of Sussex announced on Wednesday that they are stepping down as senior members of the royal family
- In their joint statement, they vowed to become ‘financially independent’
- The couple has an estimated $45 million private fortune to fund their new life, but they have the opportunity to make even more through various projects
- Experts say Harry and Meghan have the potential to rake in tens of millions of dollars annually, particularly if they follow in the footsteps of the Obamas
- Barack and Michelle Obama scored a reported $65 million advance as part of their joint book deal, and it’s possible the royals can bring in even more
- The couple can also make money through production deals, paid speaking engagements, and brand partnerships
Prince Harry and Meghan Markle have vowed to become ‘financially independent’ when they step down as senior members of the royal family, but the two shouldn’t have much trouble making money.
The couple has an estimated $45 million private fortune to fund their new life, but they have the opportunity to make even more through various projects. If famous political couples like the Obamas and Clintons are any indication, the two can easily procure a fortune through profitable book deals, speaking engagements, and, in Meghan’s case, fashion partnerships.
In fact, experts say that the Duke and Duchess of Sussex have the potential to rake in tens of millions of dollars annually, particularly if they choose to follow in Barack and Michelle’s very lucrative footsteps with public speaking opportunities, books, and TV deals.
Surprise: Prince Harry and Meghan Markle announced on Wednesday that they are stepping down as senior members of the royal family and will become ‘financially independent’
In the money: Experts say Harry and Meghan have the potential to rake in tens of millions of dollars annually, particularly if they follow in the footsteps of the Obamas
‘Their earning power — both individually and as a couple — is limitless in all aspects of endorsements,’ Ronn Torossian, CEO of New York-based PR firm 5W Public Relations, told DailyMail.com.
‘Whether appearances, brand partnerships or more, they could make eight or nine figures annually with endorsement deals.’
Ronn said it ‘wouldn’t be surprising’ if the couple started looking at options to make money in North America, where they will be staying when they’re not in the United Kingdom.
‘With the level of name recognition both of them have, brands will no doubt be tripping over themselves to offer Meghan and Harry partnerships, endorsement deals, positions as brand ambassadors, and more,’ he explained.
‘The sky is the limit for the two of them in terms of earning potential in North America.’
A branding and social media expert, who asked to remain anonymous, believes they will follow in Barack and Michelle’s footsteps by setting up a charitable foundation, producing documentaries for a streaming service, and teaming up with Spotify to create podcasts.
‘I think you’re looking at a Michelle and Barack situation,’ the person said. ‘They will definitely follow the Michelle and Barack model, and it will definitely work for them because people are incredibly thirsty for those royals.’
Harry and Meghan certainly have plenty of A-list friends who are as business savvy as they are famous to help them transition into their new lives — and make plenty of money along the way.
The couple has relationships with both the Obamas and the Clintons, with Harry being particularly close with Barack and Michelle.
Last year, Meghan secretly invited Hillary Clinton to Frogmore Cottage, her Windsor home, to meet her son, Archie.
Oprah Winfrey recently teamed up with Harry to create a mental health docu-series after attending his wedding to Meghan in 2018.
The media mogul can easily set them up with interviews, as can her best friend Gayle King. The CBS News anchor was one of the many famous faces who attended Meghan’s New York baby shower last year.
Meanwhile, Meghan’s close friend Jessica Mulroney works for Good Morning America as a style consultant.
The opportunities are seemingly endless for the Duke and Duchess of Sussex, who have connections with people from all walks of life.
They also have the resources to hire professionals to help them navigate their careers as they move away from their royal duties.
In September, it was revealed Meghan hired a top crisis PR firm that once represented Harvey Weinstein in a bid to improve her public image.
In a significant break from royal protocol, the former actress brought in the New York-based firm Sunshine Sachs behind the back of Buckingham Palace’s own advisers.
Sunshine Sachs is among the U.S.’s most prominent crisis management firms, but it has been accused of employing ‘dark arts’ tactics to improve the image of its clients.
Goals: Barack and Michelle Obama scored a reported $65 million advance as part of their joint book deal, and it’s possible the royals can bring in even more
Deals: Bill Clinton was given a hefty $15 million advance for his 2004 autobiography, My Life, while his wife, Hillary, got an estimated $14 million for her 2014 memoir Hard Choices
If Prince Harry and Meghan choose to write memoirs about their lives, they will likely start a bidding war between publishing houses and procure eight-figure advances.
Fans would love to read about their vastly different childhoods and how their lives became entwined when they were brought together through a mutual friend.
Their love story is one for the ages, and while they have shared bits and pieces about their courtship, people are still clamoring for more information about the highs and lows of their romance.
Success: Michelle’s memoir, Becoming, has sold more than 10 million copies
In 2017, the Obamas scored a joint book deal at Penguin Random House worth a reported $65 million — an unprecedented amount for a presidential memoir.
While Barack’s upcoming book has yet to be released, Michelle’s autobiography, Becoming, sold 1.4 million copies in the first week and went on to become the best-selling book in the U.S. in 2018.
As of March 2019, it sold more than 10 million copies and was on track to become the best-selling memoir of all time.
Prior to Barack and Michelle’s record-breaking deal, Bill Clinton was given a hefty $15 million advance for his 2004 autobiography, My Life.
He has written four books since leaving the White House in 2001. Most recently, he published his first best-selling novel, The President is Missing, which he co-wrote with superstar author James Patterson.
His wife, former Secretary of State Hillary Clinton, has written numerous books as well. She earned a reported $8 million dollar advance for her 2003 memoir, Living History, and a believed $14 million for her 2014 follow-up, Hard Choices.
If Harry and Meghan aren’t willing to get personal, there are other options.
Hillary and her daughter Chelsea recently co-wrote and published The Book of Gutsy Women: Favorite Stories of Courage and Resilience, which features portraits of female role models who inspire them.
Now that they’re parents, the Duke and Duchess of Sussex may want to follow in Chelsea’s footsteps and write children’s books focusing on topics they’re passionate about.
Potential: It’s possible Harry and Meghan will start their own production company like the Obamas and start producing their own documentaries and podcasts
In the game: Harry has already teamed up with Oprah to create a multi-part documentary series about mental health that will air on the Apple TV platform this year
The Duke and Duchess of Sussex are both activists in their own right, so it’s not hard to imagine them getting into film and television production to raise awareness for the causes that are important to them.
Harry has already teamed up with Oprah to create a multi-part documentary series about mental health that will air on the Apple TV platform this year.
Millions of viewers tuned in to watch them open up about the struggles they’ve faced as a couple in their emotional 2019 documentary, Harry & Meghan: An African Journey, a testament to their built-in fan base.
It’s possible they’ll take a cue from the Obamas and start their own production company to pitch their passion projects.
It was announced in 2018 that Barack and Michelle had signed a multi-year deal to produce movies, series, and documentaries for Netflix through their production company, Higher Ground.
It’s unclear how much the former president and first lady made off the deal, but those who have signed onto similar agreements are set to make millions.
Shonda Rhimes, who created Grey’s Anatomy and Scandal, signed a five-year deal with Netflix in 2017 that is estimated to be worth $150 million.
The following year, American Horror Story creator Ryan Murphy reportedly scored up to $300 million when he inked his own five-year deal with the streaming giant.
Taking the mic: The Obamas and Clintons command six-figure fees for speaking engagements, and the royals can easily do the same
At the podium: Meghan has a passion for using her voice to promote awareness for the causes near and dear to heart. She’s pictured at the launch of her charity clothing line in September
The U.S.’s former presidents and first ladies are taking home millions of dollars from their public appearances, so why can’t royals?
Barack Obama, Bill Clinton, and George W. Bush have all made a pretty penny from their six-figure speaking fees over the years.
After leaving the White House, Barack started commanding a reported $400,000 per speaking engagement, while his wife, Michelle, has been said to make $200,000.
George W. takes in $100,000 to $175,000 per appearance, Politico reported in 2015, noting that he has done at least 200 paid speeches since he left office.
And according to CNN analysis, Bill and Hillary have earned more than $153 million in paid speeches from 2001 until the former secretary of state launched her 2016 presidential campaign.
Fashionable philanthropy: Last year, Meghan helped create a capsule collection to benefit Smart Works, a charity that provides clothes and coaching to unemployed women
Walking advertisement: Catbird, the jewelry brand behind Meghan’s favorite thin, stackable gold ring revealed 20,000 people have snapped up the band since she was seen wearing it
Fashion and Brand Partnerships
When it comes to fashion, Meghan has the magic touch. Whatever the actress-turned-royal wears sells out almost immediately, making her any brand’s dream partner.
The Duchess of Sussex has many friends in the fashion industry, including tennis star Serena Williams and designer Misha Nonoo, who both have their own clothing lines.
Meghan’s close pal Jessica Mulroney also happens to be a famous stylist who has been credited with helping indie Canadian fashion brands get their start.
Jessica can easily help her connect with brands, though the royal likely doesn’t need the help.
Editorial: The Duchess of Sussex guest-edited the September issue of British Vogue in 2019
Last year, Meghan guest-edited British Vogue, and she is said to be close with the magazine’s editor-in-chief Edward Enninful as well as American Vogue’s Anna Wintour.
The Duchess of Sussex combined her love of fashion and philanthropy in 2019 to launch a capsule clothing line to benefit Smart Works, a charity that provides clothes and coaching to unemployed women.
The collection was created in partnership with Misha, the clothing brand Jigsaw, and the department stores Marks & Spencer and John Lewis. For each item that was purchased, one was donated to the charity.
And if she so chooses, Meghan could also revive her lifestyle blog, The Tig, which she launched in 2014 and used to share her favorite things with her fans.
She abruptly shut down the site in April 2017, taking down all the posts she had shared over the previous three years. Meghan and Harry’s engagement was announced in November 2017.
However, Meghan recently filed documents in the U.S. aiming to keep the rights to the blog’s name until 2021.
A palace spokesperson made it clear that the lasting trademark is to ‘prevent false branding, but she could always have a change of heart.
Mystery project: Philanthropy is a large part of Harry and Meghan’s lives, and they revealed they will be launching a new ‘new charitable entity’
Going their own way: Though they likely won’t make money from their charitable endeavors, the new venture will certainly help them carve out their new identities
Philanthropy is a large part of Harry and Meghan’s lives, and in their statement announcing their decision to step down from their royal duties, they said they will be launching a ‘new charitable entity.’
The couple didn’t share any additional details about the upcoming venture, but they may take inspiration from the Obamas, Bushes, and Clintons, who all have their own charitable foundations in the U.S.
Though they likely won’t make money from their charitable endeavors, the new venture will certainly help them carve out their new identities as they move away from the British monarchy.
Last year, Harry and Meghan walked away from the Royal Foundation, their formerly joint charity with the Duke and Duchess of Cambridge, to start their own charitable organization called Sussex Royal.
It’s unclear what will happen with the foundation now that they will no longer be senior royals.
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