As they bid farewell to their Royal ties, Meghan Markle and Prince Harry are adding producers to their resumes. It was revealed on September 2 that the Duke and Duchess of Sussex struck a deal with Netflix worth an estimated $50 to $100 million. — Therefore, they will no longer require financial assistance from Harry’s father, Prince Charles, 71.
“They’re both overjoyed to have made this final step into their free and independent lives,” a source close to Meghan, 39, tells HollywoodLife, exclusively. “This is a huge deal for them. They aren’t taking any money from Harry’s father anymore either, and they don’t need to,” the insider confirms, noting that Meghan and Harry, 35, “will always be respectful of his family, but they are very glad to have been able to cut the financial chord.”
Earlier this year, when the couple decided to step down from their senior roles as Royals, Meghan and Harry announced that 95 percent of their income came from Prince Charles’ estate (the Duchy of Cornwall). While in England, the couple lived in Frogmore Cottage on the grounds of Windsor Castle, where they used 2.4 million pounds (or $3.2 million) in taxpayer money to fund renovations on the residence.
It was confirmed on September 7 that Harry and Meghan have repaid the taxpayer money — something our source says is a major relief for the couple. “Paying everything back [that was spent on Frogmore Cottage renovations] was always part of the plan, but it’s of course a big relief to have it handled,” the insider reveals, adding, “It was important to them to do it, because they want everything that they do to be above reproach.”
Harry and Meghan’s Netflix deal, which was first reported by The New York Times, allows them to produce various documentaries, docuseries, feature films, scripted shows, and children’s programming. They joined forces with the streaming giant under their unnamed production company.
Upon announcing their Netflix deal, Meghan and Harry released the following statement, explaining their roles within the streaming service: “Our lives, both independent of each other and as a couple, have allowed us to understand the power of the human spirit: of courage, resilience, and the need for connection,” the statement read. “Through our work with diverse communities and their environments, to shining a light on people and causes around the world, our focus will be on creating content that informs but also gives hope.”
The pair, who are parents to one-year-old son Archie, added, “As new parents, making inspirational family programming is also important to us, as is powerful storytelling through a truthful and relatable lens. We are pleased to work with Ted and the team at Netflix whose unprecedented reach will help us share impactful content that unlocks action.”
Meghan and Harry, along with their son, officially became residents of Santa Barbara after settling into a new $14.7 million mansion in July. A representative for the couple later confirmed the news about their new abode, which sits in California’s celeb-filled Montecito neighborhood. Harry and Meghan relocated to Los Angeles after announcing on January 8 that they decided to step away from the Royal family “to work to become financially independent.”