The once powerful royal couple, Prince Harry and Meghan, the Duchess of Sussex, have found themselves in a precarious financial situation, accruing a staggering £480,000 in debt.

Insider sources reveal that despite their attempts to secure financial assistance from King Charles III, Harry’s father, their pleas have been met with refusal.

This financial predicament marks a stark departure from the gilded, privileged lives the Duke and Duchess led as senior members of the British royal family. 

Since their dramatic exit in 2020, famously dubbed “Megxit,” and their subsequent relocation to California, their financial stability has taken a sharp downturn. 

The loss of their lucrative royal privileges, including access to the Crown’s seemingly unlimited resources, has left Harry and Meghan struggling to maintain their lavish lifestyle.

Compounding their challenges is the fact that they no longer have a permanent residence in the UK after being required to vacate Frogmore Cottage last year. 

This has left them in an increasingly precarious position.

“A source close to the couple told us, ‘Harry and Meghan are in real trouble. The debt is piling up, and they have no way to pay it off,’” the Insider reported. Their hopes rested on King Charles helping them out, but he has made it clear he won’t bail them out financially.

The bulk of their debt, estimated around $480,000, stems from the ongoing costs and renovations associated with Frogmore Cottage. Originally gifted to them by the late Queen Elizabeth II, the property underwent a £2.4 million renovation paid for by the Sovereign Grant. However, when Harry and Meghan abruptly departed the UK, they were required to repay these expenses. While they managed to repay the £2.4 million renovation cost, additional ongoing expenses have continued to accumulate, plunging them into significant debt.

“There were a lot of expenses involved in maintaining Frogmore Cottage, from staff salaries to utility bills and more,” explained our source. “Even after repaying the renovation costs, they’ve been saddled with mounting debt that just keeps growing.”

Additionally, the couple faces a potential £1 million bill to cover security costs for their upcoming visit to the UK in September. Despite no longer being working members of the royal family, they are still entitled to taxpayer-funded security while in Britain. However, these costs pose a significant financial burden.

“Harry has been desperately trying to get in touch with his father, begging him for help to pay off this debt,” the source revealed. “But the King has made it clear they’re on their own when it comes to their financial troubles.”

The strained relationship between father and son has been well-documented, exacerbated by Harry and Meghan’s bombshell interview with Oprah Winfrey in 2021. The couple levied scathing accusations against the royal family, including allegations of racism and lack of support, which have strained their standing within the institution.

“Charles is understandably furious with Harry and Meghan,” our source disclosed. “He feels they betrayed the family and brought nothing but drama and embarrassment. The idea of using taxpayer money to help them out is just not something he’s willing to entertain.”

With King Charles unwilling to offer a financial lifeline, Harry and Meghan find themselves in a precarious position, scrambling to find a way to pay off their debts and maintain their lavish lifestyle. While their multi-year deals with streaming giants Netflix and Spotify have provided some financial security, criticism has mounted over their perceived lack of output.

“They’ve got all these big-money deals, but they’re not generating the kind of content and returns that were promised,” our source said. “Their spending has far outpaced their earnings, and now they’re in this massive hole with no clear way out.”

The couple’s plans to visit the UK in September for the first time since the Queen’s Platinum Jubilee celebrations have added to the uncertainty, with the potential £1 million security bill looming large.

“They’re desperate to come back to the UK, but this debt is hanging over them,” the source added. “They’re hoping the public will sympathize with their situation and that maybe the government will step in to cover the security costs, but that seems like a long shot at this point.”

As the Sussexes navigate these turbulent financial waters, their future remains uncertain. Once revered as the new face of the monarchy, they now find themselves on the periphery, their royal dreams seemingly shattered by their own choices and the reluctance of the institution they once belonged to aid them.

“Harry and Meghan are in a really tough spot,” concluded our source. “They’ve burned a lot of bridges, and now they’re paying the price. It’s a cautionary tale for anyone who dares to challenge the power and privilege of the crown.”

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Source: USA Today