Are Prince Harry and Meghan Markle “desperate for cash” and begging his father Prince Charles for a loan? A tabloid claims this week that the Duke and Duchess of Sussex have close to half a million dollars in credit card debt and have been fighting over money. Gossip Cop looks into the allegations.
Prince Harry, Meghan Markle ‘Going Broke’?
“Harry & Meghan Going Broke!” screams the cover of this week’s issue of Star. The outlet notes several of Prince Harry and Meghan Markle’s alleged financial crises on the cover, including a claim that the pair have $480,000 in credit card debt and that their charity has been “investigated for missing funds,” not so subtly implying the couple might have taken it to cover their lack of income.
Despite the insidious insinuations from the magazine, the investigation it touts cleared the Duke and Duchess of Sussex of allegations they breached UK charity laws, which the tabloid doesn’t deign to mention until halfway through the three-page long article. Regardless, an insider tells the outlet that despite their intention of “conquering the U.S. and turning their brand into a cash cow,” making a few hundred million dollars quite easily, those plans have seemingly blown up in their faces.
“Projects they’ve been working on have been canceled or postponed, which they blame on the pandemic. But there’s a big gap between their income and their spending,” the insider continues. Their expensive Montecito mansion cost a fortune to keep up, the source insists. “The cost of running it is astronomical with mostly bills of up to $30,000. They’re looking at downsizing because the property is just crippling them.” Between their luxurious yet expensive home and pricey security detail, the insider adds, “They’re on their way to going broke.”
Their Lavish Lifestyle To Blame?
It’s not just the royal duo’s home and security costs, which the tabloid estimates at $3 million a year, that are burning through their cash reserves, the source insists. Whenever the couple travel, “they won’t settle for anything less than 5-star hotels.” While some might assume that it’s Markle who spends the most, the source claims that it’s actually Harry who has a loose grip on his wallet.
“Harry’s up to his eyes in credit card debt — to roughly $480,000,” the tipster says. Although he brought an estimated $10 million inheritance from his late mother Princess Diana, the source says he’s already “burned through a big chunk” of it.
“When Harry was a royal, he’d go on massive shopping sprees, glamorous vacations and buy everyone drinks and dinner at expensive London restaurants,” the insider reveals, adding, “I don’t think he even saw his bank statements because royal assistants and bankers would do everything for him. The idea of budgeting doesn’t register with him.”
Money Troubles Breed Marital Problems
Now those habits are apparently coming back to bite Harry, as his “spendthrift ways” have caused major tension in his marriage. “Meghan’s warned Harry to curb his spending and they’ve gotten into fights about it,” the tattler confides, although they note, “But she clearly enjoys the fancier things in life, too.” The source claims Markle’s “wardrobe and jewelry is worth well over $10,000,000!”
As a result of their alleged financial difficulties, Harry is turning back to his father, Prince Charles, seeking a life raft out of his supposed money troubles. At one point, the source reports, “Charles funded Harry’s lifestyle,” but since he and Markle moved to America and gave up their status as working royals, “that came to a halt.”
Prince Charles Allegedly Refusing To Help
After Charles praised Harry’s work on behalf of the environment in an essay he wrote for Newsweek, Harry allegedly believed they’d put their bad blood behind them and felt it was safe to ask his dad for some money, the insider continues. “He thought his dad would agree to it after the Newsweek article, but for Charles you’re either in or you’re out of the family.” Concludes the source, “They’re going to have to fend for themselves.”
Gossip Cop’s Take On The Rumor
The outlet notes only two sources of income for the Duke and Duchess of Sussex, their deal with Netflix and their Archewell charity, but the reality is that the two have created a number of diverse revenue streams. Harry is the chief impact officer for a new Silicon Valley tech startup named BetterUp Inc. He’s also expected to release a memoir in late 2022, which will also serve as a boost to the couple’s coffers.
In addition to the tabloid’s manipulative misinformation on its cover and obvious misrepresentations in the article itself, there’s the fact that Star has consistently gotten the story wrong about the Duke and Duchess of Sussex several times in the past. The outlet once claimed Meghan Markle was pregnant with twins shortly before she gave birth to her (single) daughter Lilibet Diana.
Then there was the time the outlet claimed the royal renegades were planning to leave California after only 54 days and that they were “begging” Queen Elizabeth to let them back in the royal family. Harry has gone back to his home country several times over the last year to attend his grandfather Prince Philip’s funeral and again over the summer to unveil a memorial for his mother alongside older brother Prince William. He’s very obviously still a very loved member of the royal family and is still living in California with his wife and children. We won’t be getting our royal news from this magazine anytime soon.
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