Meghan Markle and Prince Harry bought a nine-bedroom house in Montecito for $14.65 million in 2020 after stepping back from royal duties and becoming financially independent. The royal couple got $10 million less than the asking price for the property, according to Forbes reporter Carlie Porterfield. They then signed lucrative multimillion-pound deals with Netflix and Spotify to help pay their $9.5million mortgage, public documents show.
Ms Porterfield said: “They spent $14.7 million on their house in Montecito, but they got a really good deal.
“The previous owner bought her for about $10 million more and tried to sell her for a profit.
“He couldn’t do it, so he took a $10 million cut.
“As far as that goes, they actually got a pretty good deal. »
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The statement comes as Harry and Meghan have been told to “live in a more modest place”, amid speculation over the couple’s finances.
The Duke of Sussex, who previously told Oprah Winfrey he was ‘cut off’ by the Royal Family, said he had signed contracts to keep him safe.
After spending lavishly on their overpriced home, royal expert Richard Eden wondered about the couple’s future source of income.
Speaking to Palace Confidential on Mail+, Mr Eden said: “Remember Prince Harry said explicitly in his interview with Oprah Winfrey that they signed the deals with Spotify and Netflix only because he was cut off by his family.
“He said we needed the money.
“They’ve since done other deals for things like BetterUp, but it’s been clear that they have to do this kind of deal.
“It makes me wonder what the future holds. »
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Royal commentator Andrew Pierce noted: “They don’t need to live in a house with nine bathrooms.
“They could live in a more modest place. »
Harry had told Oprah, “We didn’t have a plan. [The Netflix deal] was suggested by someone else when my family literally cut me off, and I had to keep us safe.
« [They cut me off] In the first quarter of 2020. But I have what my mother left me, and without it we couldn’t have done this. ”