Here's a breakdown of Prince Harry and Meghan Markle's current income

Prince Harry and Meghan Markle announced Wednesday that they intend to step back as senior members of the royal family and will split their time between the U.K. and North America. CNBC's Robert Frank reports.

Queen Elizabeth is reportedly disappointed with the sudden announcement from Prince Harry and Meghan that they are stepping back from their position as senior royals, and palace watchers are questioning how much financial autonomy the couple will have in the future.

The BBC reported Thursday that the royal family was “hurt” by the decision. The Duke and Duchess of Sussex did not consult any senior royal before making the statement, the BBC reported without naming sources. Failing to consult the queen ahead of their shock announcement, in which the couple also said they will “work to become financially independent,” is understood to have “disappointed” the monarch, Sky News reported.

Sky’s royal correspondent Rhiannon Mills also said she was “told that the statement was solely written by the Duke and Duchess of Sussex — no senior members of the Royal Family were consulted before it was released.” Reuters reported that the family was hurt and disappointed, citing an unnamed royal source.

Harry and Meghan said Wednesday they would balance their time between the U.K. and North America, “continuing to honour our duty to The Queen, the Commonwealth, and our patronages.”

The “geographic balance” would enable them to raise their son Archie “with an appreciation for the royal tradition into which he was born, while also providing our family with the space to focus on the next chapter, including the launch of our new charitable entity,” they said without revealing further details.

Buckingham Palace responded by stating that “discussions with the Duke and Duchess of Sussex are at an early stage. We understand their desire to take a different approach, but these are complicated issues that will take time to work through.”

There has been speculation for some time that Harry and Meghan could spend more time abroad as both have spoken of the pressures of media scrutiny and intrusion, as well as widespread reports of a falling-out between Prince Harry and his brother, William.

Meghan has previously lived in Canada, a member of the British Commonwealth, and some royal correspondents have suggested the couple might opt to move there, given the enigmatic reference to North America. The couple spent the festive period with Meghan’s mother, Doria Ragland, in what the media has described as a “luxury retreat” in Vancouver.

The couple has received a small portion (5%) of funding through what is known as the Sovereign Grant — money paid by the government (and hence taxpayers) to support senior royals’ official duties such as overseas visits, hospitality and public engagements. The sovereign grant for 2018-2019 amounted to £82.2 million ($107.1 million), up from £76.1 million in 2017-2018, equivalent to £1.24 per person in the U.K. The rest of their funding (95%) comes from the Duchy of Cornwall, the estate of Prince Charles (Harry and William’s father).

Princes Harry and William are reported to receive around £5 million a year in funding from the Duchy of Cornwall with Harry reported to receive a slightly smaller sum than his brother, of around £2 million a year.

The couple’s U.K. residence, Frogmore Cottage, in Windsor was refurbished to the tune of £2.4 million in 2018-2019 and was funded by the Sovereign Grant. The couple said they would continue to maintain Frogmore Cottage “so that their family will always have a place to call home in the United Kingdom."



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[Danielle]

So independent yet living off of dad 🤣🤣

[geoseward]

Boy the math doesn't even add up and this is the Bloomberg financial channel.

[edmsing]

I have no real experience on being a ‘royal’ but can wonder
what life would be like, having little or no personal time to oneself. Receiving
a schedule of must attend events each morning stretching well into the next six
months or so, told what garments are acceptable for evening or recreational
wear, what social events are acceptable to attend, what sort of company is satisfactory
to be seen in, and of course, one must watch ones public language, that’s
acceptable to be heard by others and what is not, so, life as a ‘royal’ can be soft
and cushiony, but most restraining, in short, not fun.

[OakhillSailor]

What makes this guy say "they are not well liked"? who is this ?

[tsitsizinyemba]

You people are the only new outlet, who are make sense out of, this

[supremebeme]

Hmmm... I wonder what is REALLY going on?

[bradzillabrave]

I have yet to meet a British citizen that actually likes Meghan, especially when compared to Kate.

[kaysi]

British public likes them a lot actually

[teatowel]

Good, hey shoukd all abdicate, the time for royals has long past.