Meghan Markle and Prince Harry have reportedly faced significant financial challenges since stepping back from their roles as senior royals and becoming financially independent from the royal family in 2020.
Although the couple secured lucrative deals with Netflix and Spotify, worth millions, these ventures have yet to turn a significant profit. At the same time, their expenses have ballooned, with tens of millions spent on establishing their new life in California, along with covering security costs.
For months, rumors have circulated that the Sussexes are struggling financially and are actively seeking ways to bolster their income. Reports have surfaced that their security expenses alone amount to over $4 million annually, while maintaining their lavish lifestyle and travel commitments is estimated to cost an additional $5 million per year. With mounting expenses and no immediate returns from their business ventures, insiders claim that Meghan and Harry have been seeking new sources of income to stabilize their financial situation.
As seventh in line to the British throne, Prince Harry does not possess a royal estate or property that could generate a steady income. This reality prompted the couple to look toward Althorp, the grand Northamptonshire estate that has been in the Spencer family for more than 500 years. Althorp is historically significant as the final resting place of Harry’s late mother, Princess Diana, whose grave is located on a small island within the estate’s grounds.
The current owner of Althorp, Charles Spencer, the 9th Earl Spencer, inherited the 13,000-acre estate in 1992. Maintaining such a vast property is incredibly costly, with estimates suggesting that Althorp requires between $5 million and $7 million annually just for basic operations and staffing. Periodic repairs and renovations can push these expenses even higher. While Althorp generates some income from public tours and visits to Princess Diana’s burial site, it has never been a fully self-sustaining business.
Earlier this year, reports emerged that Meghan and Harry discreetly approached Charles Spencer to discuss the possibility of leasing or renting a portion of the Althorp estate as a way to generate income. Specifically, they were interested in leasing one of the estate’s cottages or lodges to use as their UK base when visiting for work or family events. However, sources indicate that Spencer quickly rejected the proposal, stating that Althorp had been a Spencer family property for over five centuries and that he had no intention of leasing it to anyone.
It is speculated that Spencer may have also been wary of associating with the Sussexes due to their controversial exit from royal life and the ongoing tensions with the rest of the royal family. However, insiders close to Spencer suggest that the real reason for turning down the offer lies in the financial challenges Althorp itself is facing. Years of escalating maintenance and staffing costs have put the estate under significant financial strain, with some reports suggesting that it is on the brink of bankruptcy unless new income sources are found.
Spencer has been exploring ways to increase the estate's income while preserving its historical integrity, but viable options have been limited due to Althorp's size, location, and purpose. The last thing Spencer wanted was to take on additional financial risks by leasing part of the estate to Meghan and Harry, particularly given the uncertainty surrounding their ability to provide a consistent, long-term income stream. As a result, he opted to reject their offer outright.
Critics have noted that it was perhaps in poor taste for Meghan and Harry—who are themselves wealthy—to approach Spencer with such a request, particularly given the financial struggles the centuries-old aristocratic family is currently facing just to maintain their ancestral home.
