Prince Harry and Meghan Markle’s relationship is simple: The pair reportedly met after being set up on a blind date, fell in love, and got engaged 15 months later. Soon, they will marry and hopefully live happily ever after.
Yes, their love is uncomplicated, but one place things get very, very messy is the couple’s combined finances.
Here’s how much Meghan reportedly earned:
Meghan’s finances, MONEY reported, are far easier to track than Harry’s. The one-time Suits star reportedly made $50,000 an episode while filming, raking in about $450,000 a year. She made additional funds in movie appearances.
Here’s how much Harry is worth:
Prince Harry’s money is harder to track because much of the royal family’s income is kept private. But the global wealth insights firm Wealth-X estimated Prince Harry’s 2018 net worth to be at least $25 million.
According to MONEY, Harry’s private income and the money he receives for official royal obligations both come from a private estate that funds the activities of his entire royal family. That estate is known as The Duchy of Cornwall and has served all monetary needs of the family since 1337.
But, Harry may have some extra cash stashed from his inheritance from his late mother Princess Diana’s estate.
“It has been suggested that William and Harry each received about £10 million ($14 million) from their mother’s estate, with Harry getting more because the money was invested longer for him,” Marlene Koenig, a royal expert, told MONEY.
Moreover, during his 10 years in the British Royal Air Force, Harry earned an income of $50,000 a year.
Here’s what happens to Harry and Meghan's money once they're married:
On May 19, Harry and Meghan will walk down the aisle and become man and wife. According to Koenig, the pair will then also combine their finances. However, this could open the couple up to a rather messy tax situation as Meghan will remain a legal U.S. resident for at least the next three years. According to Koenig, “She cannot start the process of becoming a U.K. citizen until she is married three years, and when she has acquired British citizenship, she will need to make a decision on whether or not she renounces her U.S. citizenship.”
This means Meghan will also be paying taxes in the United States, as it is one of two countries on Earth that taxes expat income. So, if the pair opens up a joint checking account, the U.S. government will then be able to scrutinize both her and Harry’s income.
However, if Meghan simply pursues a life of charity and has no income to report, the pair may decide to keep their finances separate. That way she has nothing to report to Uncle Sam and Harry’s money will stay private.
Here’s the one thing Harry and Meghan can inherit tax-free:
When the pair wed, the Queen will likely bestow upon them a new title: Duke and Duchess. Though it’s unclear on what the exact title will be, The New Yorker speculates she will grant them the title of Duke and Duchess of Sussex. And really, they are lucky to be getting a title at all as Charles Kidd, the editor of Debrett’s Peerage & Baronetage explained: “They’re quite limited in the titles that are available. I think the others are highly unlikely. Clarence hasn’t been used for a long time and it’s been sort of tainted by bad luck.” So yeah, maybe just stick to Sussex.