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Harry and Meghan will soon be broke as all their plans are on hold, says insider: 'And they still spend a ton'

The royal duo had to put their business plans on hold owing to coronavirus pandemic
UPDATED MAY 12, 2020
(Getty Images)
(Getty Images)

Several sources have revealed that Prince Harry and Meghan Markle’s plan to start a financially independent life in LA has backfired due to the coronavirus outbreak. They also said that the Sussexes have been forced to put their business plans on hold because of the global pandemic that has killed more than 80,000 people in the US.

“This independence is what Harry wanted so badly. But the truth is, it’s been a real struggle to adjust to the real world. He’s never had to worry about money, so he doesn’t really understand the concept of budgeting,”  a source said, adding the former senior royal couple is now worrying about their future after exiting from the palace.

The source also said that only by doing the planned speaking engagements and appearances, which the pair had looked forward to, they cannot make enough money to maintain their high living standard. “They’re still spending a ton. They’re going to end up broke!” the insider added.

Omid Scobie, a royal commentator, said that Harry and Meghan should brace themselves up for financial stress in the future, especially because of the global health crisis. “They have spent the last few years not earning a living. As a royal, your expenses are covered but you don’t earn a salary. It will be very tough for them especially in the few months ahead,” Scobie noted.

Despite these speculations and revelations by the sources, a report has claimed that Harry and Meghan have an estimated budget of $12 million to $18 million to buy their dream home. Currently, Harry and Meghan are living in one of the poshest areas of Los Angeles, and are put up at the ultra-luxury Beverly Hills villa belonging to Tyler Perry after they moved out of Vancouver Island, Canada, in March. The move took place just days before the two countries closed their borders due to coronavirus pandemic.

Their LA villa, estimated at $18 million, has eight bedrooms, 12 bathrooms and is spread over 22 acres on top of a hill in the gated and exclusive Beverly Ridge Estates. However, some reports revealed that the Duke and Duchess of Sussex want a place of their own and are browsing the market with millions to spend.

They are reportedly looking at the westside of Los Angeles for potential houses. TMZ also made a list of a number of properties that the couple might be interested in.

The list included a seven-bedroom Bel-Air mansion, estimated at $15 million, with a 10-seat movie theater, a billiard table, a 200-bottle wine cellar, featuring a "computerized rain bar". Other properties that made to the list were a $17,995,000 Hollywood Hills home with five bedrooms, a $12,899,000 mid-century home featuring a "full-service rooftop deck" and a $16,899,000 six-bedroom home which has both a waterfall as well as an 800-gallon aquarium.

Harry and Meghan are reportedly surrounded by "team Meghan" including several of her closest friends. Celebrities like Benita Litt, Heather Dorak and Abigail Spencer share the neighborhood. Another close friend of Meghan, Serena Williams, also lives in a neighboring gated community with her family.