Wakeford: Prince Harry’s inheritance has been ‘spent on the house & the legal trials’

On Monday, Prince Harry was seen in LA – there are photos of him leaving Nobu after having lunch with friends. For years, I’ve believed that Harry and Meghan regularly pop into LA for business and pleasure, just as I believe that the paparazzi and press rarely catch wind of them. They’re only ever really seen when they’re coming or going from one of LA’s hotspots, like Nobu or the San Vicente Bungalows.

Meanwhile, many of us have noticed a recent uptick in wildly unsubstantiated attacks on the Duke and Duchess of Sussex. I believe the “reason” for many of these recent attacks is the Sussexes’ successful “tour” of Australia last month. A billion-dollar hate industry did everything they could to ruin the tour, only for Australians to embrace Harry and Meghan and really turn out for them over and over. The billion-dollar hate industry tripped over their d–k on the world stage and they look like dumbasses yet again. Instead of just sitting there or acknowledging their stupidity, the haters have just been taking increasingly defamatory swings at Harry and Meghan. One of those haters? People Mag’s former editor Dan Wakeford, who seems to be selling his new Substack to the most gullible derangers ever. Wakeford previewed his attacks during a “lunch” with Tom Sykes last week. Well, now Wakeford has even more to say. Apparently, Harry and Meghan will be broke in five years! That’s what they said five years ago.

Prince Harry and Meghan Markle are reportedly “wildly unhappy” after eating through most of the Duke of Sussex’s $20 million inheritance. Dan Wakeford, a royal expert and former editor of People Magazine, claims the money left to the 41-year-old royal by his mother, Princess Diana, and the Queen Mother is allegedly running dry and putting much pressure on the Sussexes as their expenses rack up.

After conducting interviews with five sources within the Sussexes’ inner circle, Wakeford says the couple have reportedly been forced to “cut back”, as can be seen by the slashing of their 16-person team to five employees.

“Meghan has a sense of how careful they need to be …. Harry – raised in a world where everything was provided – reportedly lacks basic awareness of what things cost,” Wakeford wrote in his Celebrity Intelligence newsletter.

Wakeford further claims that some of the Sussexes’ major deals – such as their Netflix and Spotify contracts – were worth far less than what was publicised at the time. He says that their Netflix deal, which was publicly hailed as a $138 million project, instead came in at $83 million. Furthermore, their Spotify deal, which was reportedly worth $27.7 million, actually paid them $6.9 million. As for Prince Harry’s biography – and Guinness World Record-winner for the fastest-selling non-fiction book of all time – the book was accompanied by a $27 million advance.

Despite their various wealth channels, the journalist claims it is the Sussexes’ expenses that have seen them burn through their cash, with the couple allegedly taking out multiple mortgages on their $19.4 million California mansion and spending around $4.1 million on security each year.

And of course, there are the multiple legal battles Harry has launched against the British media, including News Group Newspapers and the Mirror Group Newspapers. While the Duke of Sussex has either won or settled his past legal actions, if he loses his ongoing case against the Daily Mail, he and his co-claimants could be left to deal with $71 million in costs, according to news.com.au.

As for what’s in the pot, Prince Harry received a major inheritance windfall from the Queen Mother on his 40th birthday of around £8 million (AUD$16 million). Furthermore, he and his brother Prince William were left most of their mother’s £13 million ($25 million) inheritance following her tragic passing in 1997. But despite all that, Wakeford says the money has been “substantially absorbed”.

“The inheritance has largely been spent on the house and the legal trials,” an insider allegedly told the journalist, thus leaving the couple “wildly unhappy”. An additional well-placed source then made an educated guess at their financial future, painting a grim picture for the Sussexes.

“Five years, roughly. That’s the window before their lifestyle looks a lot different.”

[From Sky News]

This is emotional-support pocketwatching. “Look at these numbers, I swear that they’re broke!” Meanwhile, even in a slanted doomcast of the Sussexes’ finances, the broke-ass predictions make no sense. You think the Sussexes would have taken out multiple mortgages on their home and no one knew that until now? Please. They have one mortgage, and they’ve been open about that. Harry also spoke about his inheritance from his mother in the Oprah interview, and how they used some or all of that in 2020-21 when they basically escaped an institution which was trying to destroy them. It was money well spent, as every person escaping their abuser will vouch for. It’s going to cost what it costs. Basically though, whenever I’m exposed to Deranger Math™ I’m reminded of how none of these people understand how money works or how investments work or how businesses work. “Don’t you understand, they made $130 million in four years, and I swear they’ve spent it all! Security bills! Mortgages!” Read a Suze Orman book and STFU.

PS… I absolutely believe that these pocketwatching stories about the Sussexes are meant as a distraction from the broke-ass Middletons. Pippa Middleton and her terribly moderately wealthy husband just sold what was supposed to be an “investment property” because it was about a million dollars in debt.

Photos courtesy of Cover Images.

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49 Responses to “Wakeford: Prince Harry’s inheritance has been ‘spent on the house & the legal trials’”

  1. Denise says:

    If that’s the case, would Megan be able to buy out Netflix’s share in her company?
    They forgot that she made a ton of money on “all that jam” and they are still being paid for some appearances.
    They’re a hardworking couple who pays their own bills, leave them alone.

    • Swaz says:

      This is just being written to feed the 1 billion hate click brigade. REMEMBER, THERE’S MONEY IN THAT MALICE.

      • Beth says:

        It’s all nonsense from financially illiterate fantasists. Richard Palmer, a royal reporter infinitely better informed than Wakeford, wrote a recent ‘i’ piece making clear that the Sussexes have plenty of money, lucrative plans going forward and that Harry’s insured re: legal costs. (And their home is now worth $29m!)

  2. Tessa says:

    There was no inheritance from the queen mother for harry. That was debunked a long time ago. The queen was supporting her mother.

    • Jais says:

      They always cite this supposed inheritance from the QM but there is no evidence such a thing ever existed.

      • Elizabeth Kerri Mahon says:

        I can believe that Prince Philip might have left him some money since he somehow managed to go from a broke naval officer before he married QEII to allegedly having millions when he died.

      • Becks1 says:

        Yeah Harry’s spokesperson came out years ago and said that there was no inheritance.

        The rumor always was that she (the QM) set up trusts for her grandkids back in the 90s in such a way that her money would pass to them tax free when she died, and that she left more for Harry than William since William would be king and Duke of Cornwall before that.

        Now, Harry has refuted this claim (although the idea that he came into it when he turned 40 is a different spin, especially with the added info that he has already spent it all…..ina year and a half?) and even without that – knowing what we know about the QM, does it make sense that she left more to Harry? no, it would be more likely that she left everything to William as the heir.

    • Agreatreckoning says:

      Yes! Harry never received anything from the Queen Mother. Anything she had reverted to QE11. Which were things not dollars. The truth is out there. The lying liars tell lies they say. Oof. The Queen Mother didn’t have money of her own to give anyone inheritance too.

      And, that’s not how the royal system works.

  3. Dee(2) says:

    So instead of $165 million for Netflix and spotify, they made 90 million, and that’s so significantly less to make them poor. I also note that they never include his Better Up salary and stock dividends, their speaking engagements, nor any income that Meghan has made from As Ever. Also they never mention investments, because I guess Harry and Meghan have never heard of investing money. Oh wait! Harry and Meghan have given detailed interviews about their financial advisors and their investments in small and large companies, even naming the ethical investment company they use.

    Also I’m not sure but aren’t these lawsuits insured as well? In any case the problem with all this pocket watching is that they ignore all streams of income to make it work, and act like Harry and Meghan have a finite amount of money that can’t be replenished. They also disregard how much they give away in charity because again, you can’t argue that people are broke when they’re giving away literal millions of dollars.

    I don’t know if there’s even one actual sole reason for this narrative. I think that they need people to believe that they have failed, because success outside of the Royal family can’t be seen as possible. I think the media is bitter that they predicted their failure and it hasn’t occurred. And I think that some people in the family are jealous of their success and that they haven’t had to debase themselves to survive.

    • Lady Esther says:

      All the reporting on the legal cases also conveniently overlook Harry’s settlement with Murdoch, which I still believe had to have been quite substantial

    • fawsia says:

      We don’t have to give a rebuttal for this nonsense! If his argument is that Harry was suing the tabloid and that is what made him broke, both legal fees were paid by the defendant, and he settle with Murdoch and received $30 million!

  4. GDUBSLADY says:

    The Sussexes purchased their home during the pandemic when mortgage rates for a thirty year loan was under 3 percent and home prices were lower.

    • Beth says:

      Their home has doubled in value and is now worth $29m.

    • Hypocrisy says:

      I would not be surprised at all if they own that home outright now.. I’m still amazed that they got it for such a low price.

      • Becks1 says:

        honestly, for such a low rate, it wouldn’t make sense to pay it off. They can take that money, put it into an investment account, and get a high enough rate of return to make it worth not paying it off.

        But either way, not worried about their ability to pay their mortgage, lol.

      • Lover says:

        Agree with Becks1. Rich people take out loans because their loans are cheaper than the returns they get on their investments. Bet that the Sussexes are well invested, and bet that their house value alone will pay out big if and when they choose to sell. They are doing just fine.

  5. Barbara says:

    Rich people pocket watching is so funny. If H&M are so broke, I’m sure they both have books they can write.

    • JudyB says:

      I’ll be waiting for their books! I’m sure that is what is causing William to be retching over the toilet.

  6. Julia says:

    Does Dan Wakeford understand basic Maths? Harry has won the majority of his court cases and his legal fees were paid by the newspaper groups so no loss there. What would they have spent the Netflix, Spotify and Spare money on? I don’t believe the security bill is $4 million a year. Harry said in an interview that security cost much less than the wild claims in the British press. How can you know people will be broke years in the future. That’s delusional because you assume that they have no savings or investments or any ways to make money in the next 5 years. They have not taken out multiple mortgages there would be some evidence available if they had. It’s already confirmed that Harry and his co claimants have taken our insurance for the Mail trail. This has been wildly publicised but Dan’s sources didn’t know about it? It means even if they lose a large chunk of the loses will be covered.
    Lastly why would people in Harry’s circle talk to a loser who got fired from US Weekly.

    • Becks1 says:

      Also, they keep talking about Spare like its a done deal. Sure, he got a hefty advance, and I think its safe to say that the sales covered that advance – but the book is still selling in all forms. There’s still a waitlist for it at my local library. It’s still making him money.

  7. Shiela Kerr says:

    The number of gutter rats who base their living off the Sussexes appears to be growing!. They have found a base among lunatics who spend their dreary lives wish casting and pocket watching this couple. The Sussexes are rich, live well and appear to live cautiously. All the wish casing and made up nonsense will not change how they live nor make their wishes come true.

  8. 810Mama says:

    Oh puhleeze!

    He spoke with 5 people in their inner circle? They don’t want the Sussex Squad to resurrect the hilarious #mypalacesource thing do they?

    Pathetic.

    Nobody in their “inner” circle is gossiping about the Sussex income streams. First Peg-Leg Tom is dusted off for a poor me article. Now this?

    Pathetic.

    These sad sacks are like crazy name it claim it prosperity preachers. They think if they keep speaking this mess it will manifest.

    😵‍💫😵‍💫😵‍💫

  9. sunniside up says:

    How many stories do we get every year about them being broke.

  10. The wish casting continues!! They don’t know shit about the Sussexes finances they just wish they would go broke!

  11. LauraD says:

    Nah Kaiser’s right. This is take attention away from Pippa Middleton’s project going bankrupt. Which raises the question has any of that family’s business NOT gone bankrupt.

  12. Magdalena says:

    I’m cackling. Someone (cough, William) clearly needs to constantly be reassured that H+M are broke.

    It’s interesting how they mention the legal trials, yet fail to mention that Harry received high 8-digit awards from EACH of the lawsuits he’s brought and won so far (and not the paltry £10 million the UK media rushed to imprint onto people’s minds either). He has also received damages or settlements after filing complaints against at least one newspaper (I think it was two). Meghan also received well over 8-digits in her successful lawsuit against the Daily Mail, even though the BBC and others rushed to fraudulently claim that she had only received £1. Both had their lawyers’ costs paid by their opponents.

    And all that is before we consider the millions Harry earned from Spare, the millions Meghan earned from The Bench, Harry’s salary and perks from BetterUp, the millions Meghan earned from her two successful podcasts, the millions they’ve both earned from Netflix, the millions Meghan has earned from As Ever, the millions they have earned from their joint and individual investment portfolios (known and many more unknown), the millions they’ve made from speaking engagements… and the millions they CONTINUE to earn each month(?), certainly each year… PLUS his inheritance.

    Wakeford and the other wishcasters know NOTHING. 😀 I pity these repetitive fools.

    • Lauren says:

      Don’t forget the millions Meghan made before meeting Harry

      • Magdalena says:

        Oh yes! Thank you. I did indeed forget to add those. Plus her union pension and all of the residuals she’s still getting from the television and film productions she has been in.

        Most people would love to be as “broke” as those two are! 🙂

  13. Morning says:

    If they were running out of money, Meghan would be considering acting roles more seriously.

    • MsIam says:

      Exactly, like she said she has left so much money on the table. The tabloids like to claim that Meghan is the one “who knows how to make money” , trust and believe if she were really “broke” like they claim, our girl would be taking advantage of every opportunity she could get.

  14. Siri says:

    Why are these people gatekeeping a private citizen’s private finances? These people lose all semblance of common sense and decency when it comes to Harry. His finances are no one’s business. There is no way anyone who has knowledge of Harry’s finances is going to give out that information. Whomever is his wealth manager probably keeps that information under lock and key.

  15. Hypocrisy says:

    Until there is a for sale sign in the lawn they are doing just fine.. it’s the tabloids rats on substack or people like Sarah Vine who might be broke and homeless much sooner than the Sussex’s.

    • Julia says:

      @hypocrisy even that wouldn’t mean anything. People move for all sorts of reasons. When the kids are older they may well move to be closer to certain schools. Sometimes people outgrow their communities. Until we hear they are declared bankrupt (unlikely) they are fine!

      • Hypocrisy says:

        It’s just a saying my grandmother had for when people gossiped about neighbors.. but yes it is more accurate to say “unless bankruptcy has been filed” lol

  16. Lili says:

    No one knows the state of their finances unless someone kidnapped them and gave them truth serum. and why are you pocket watching them. i bet Harry would gather his last remaining coins and buy a ranch in montana before he came back to the uk

  17. BLACK ELDERBERRY says:

    After their wedding, when they weren’t allowed to earn money and Charles officially declared he had no money for them, Meghan paid for everything: clothes, including her wedding dress, furniture, and takeaways. Harry didn’t have access to Diana’s inheritance. He was entitled to it, but he couldn’t use it. Even after leaving England, Harry had to ask for it repeatedly before receiving it. He himself said the money helped them at the very beginning, but about two years ago, he stated that the money from Diana’s inheritance, now fully invested (i.e., he had already paid out the amount he had withdrawn), was well-invested and would be passed on to the children when they grew up.

    The longest and most expensive lawsuit ended in a settlement, and his lawyers publicly read out the settlement, including: The defendant, the Mail, covers Harry’s legal costs of £10 million. This means he pays Harry’s brilliant lawyer £10 million and Harry an undisclosed eight-figure sum in damages. Naturally, tabloid journalists started writing about £10 million, as that’s the lowest figure in the eight-figure range, but that’s exactly what the other plaintiffs (there were several besides Harry) received for withdrawing their lawsuits. Harry went far beyond that, even getting the court to release all emails between the newspaper and the palace. They were furious; both sides—the Mail and the palace—were panicking, and negotiations were taking place literally outside the courtroom. Harry had nothing to lose; he had everything on his side. Several lawyers, citing the importance of the case and the consequences of releasing the emails, calculated that the minimum amount was certainly around £50 million, but it could have been twice that. Let’s assume it’s “only” £50 million—H&M’s account is doing well. 👍

    • Cat slave says:

      What I wrote below and plus all this. You always have the best points! The 8 figures was always low balled. Plus media contracts. Like I said,these people don’t understand investing. I guess if you spend what you earn, there’s no reason to. Rich people make money in their sleep, Harry’s no wage slave.

  18. Cat slave says:

    Lol that money was invested for him, so its grown in magnitudes. Plus Harry, apart from all the Spare money and paid jobs, has discussed investing and vc. Do none of these people understand investing, the stock market or even compound interest? He literally gave away a few million of HIS money (specifically mentioned as his) in the last 2 years. These people are desperate. I love this for William. He’s truly crying in his beers at 10am. Keep drinking wills!

    • Blujfly says:

      Yes it was invested at the time the boys received it. Even if they invested it conservatively, 20 million in 1998 should easily have been 35 million in 2020.

  19. Cat slave says:

    Lol that money was invested for him, so its grown in magnitudes. Plus Harry, apart from paid jobs, has discussed investing and vc. He literally gave away a few million of HIS money (specifically mentioned as his) in the last 2 years. These people are desperate. I love this for William. He’s truly crying in his beers at 10am. Keep drinking wills!

  20. Angelica Schuyler says:

    Beyond the fact that these “reporters” are horrible at math, it is clear they know NOTHING about financial strategy either. People quite often take out mortgages on properties they can afford to own outright because of the tax advantages and also to use leverage. Harry and Meghan and the rest of America can write off the mortgage interest against their tax liability . Since they also work from home they can probably depreciate some of the home as well since it also serves as an office for them. Then there’s also the use of leverage. You borrow money at 5% and invest it to make 10%. You’ve written off the 5% cost and you’ve gained 10% in earnings using the bank’s money all while securing the loan with the value of your property with very low risk because you have that money sitting in a different account. LEVERAGE. But these are just basic concepts of what the Sussexes could be doing.

    They will stay rich. The only one worried about it is William because now he can’t use financial leverage to control his brother’s life. It eats away at him bit by bit every day. Kate thinks she has won by being future queen, but she can’t buy a new dress without William’s approval whereas Meghan owns a whole multi-million dollar company.

    But the British press wants you to believe that Harry is dying to get back under his brother and his father’s control….

  21. Gabby says:

    Those haters better watch what they wish for. They don’t have access to the books, they don’t know the financial picture. They think the money has just been banging around in a checking account rather than being invested.

    But let’s play along, shall we? If the Sussexes go broke in 5 years, they won’t slink back to the UK to share their shine with the BRF and and beg for scraps from Peg. No way Charles is still here in 5 years.

    It’s more like Harry would publish those other 400 pages and Meghan would publish her own memoir.

  22. Amy Bee says:

    I suspect Harry and Meghan have paid off their mortgage. Harry has denied that he got an inheritance from the Queen Mother.

  23. Harriet says:

    Prince Harry is still making a fortune with Spare.

    A publisher pays you money up front before your book sells. This is called an advance against royalties.
    You do not repay it in cash if the book underperforms. You simply do not earn royalty income until your sales cover the advance amount.

    Your royalty is a percentage of each sale. Typical rates are 10-15% for hardcover, 6-8% for paperback, and 25% for ebooks. These figures vary by contract.

    Once your cumulative royalties exceed the advance, you start receiving payments. This is called earning out.

    Harry definitely earned out and is now probably getting some nice fat royalty checks.
    Same with Meghan’s book, The Bench. They keep translating it into new languages, so she must have earned out also.

    So they both were paid advances, and are still getting paid.

    It was so smart of him to use his own voice for Audible!!!

  24. Nerd says:

    It has been five to six years and the media have been the ones telling us that unnamed insiders have told them how much their contracts are worth and now we are to believe that they were mistaken about the amounts all along but now know through five unnamed insiders how much those contracts have been worth all along. I laughed when they said “five insiders” as if that makes them credible when none of them are named and the likelihood that that many people in their circle would 1) talk to them and 2) know what their finances are or how much they have paid or spent on anything as large as a mortgage and court expenses. Most people have no clue as to what anyone else’s financial situation is and that’s including best friends and family members. That just isn’t details that people would go into great detail about with exception of a financial advisor who would never disclose such information about a client. They are changing numbers that they first reported because they have to change the numbers to fit another narrative. That’s why they refused to mention all of the other streams of income the Sussexes have and how they’ve admitted to also investing their money and giving back millions to charities.

  25. TheWigletOfWails says:

    The way they talk about the Sussex’s finances, you’d think they only started making money after they left the UK. Meghan was a high earner before she met Harry, she had endorsements, sponsorships, not to talk of her Suits earnings and investments. Do they think she blew through all that? She’s also mentioned that Mellody Hobson is a mentor. With the backing and support of such a powerful businesswoman, she’ll never be broke.

    That said, the Sussexes could be living in penury, and they’re still NOT returning to the UK. So what is the point of all this?

  26. Elizabeth says:

    I thought Harry dispelled the myth that he has no idea what things cost in Spare. He went shopping at TKMaxx during their sales. He had to buy his own food because he didn’t have a housekeeper at Nottingham Cottage. I definitely think he has a better idea than Voldemort. Also, I’m sure that since marrying Meghan, he’s learned some financial literacy. Meghan watched both of her parents declare personal bankruptcy. I’m sure she’s careful with her money.

  27. bisynaptic says:

    Five years! Glad he’s giving himself a long runway! 😂

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