Here's How Meghan Markle and Prince Harry Intend To Become Financially Independent

Meghan Markle and Prince Harry announced they'd be stepping down from Royal duties last night [8 January], a move which they had apparently not informed the Royal family about.

In their statement, the couple confirmed they no longer wanted to be 'senior' members of the Royal family. Instead, they hope to split their time between North America and the UK, while 'continuing to fully support Her Majesty The Queen' and working to become 'financially independent'.

But how exactly do they go about funding themselves?

On their website, sussexroyal.com, Meghan and Harry have created a lengthy new page called 'Funding', which goes into great detail about how the pair are currently funded, alongside their hopes for the future.

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“After many months of reflection and internal discussions, we have chosen to make a transition this year in starting to carve out a progressive new role within this institution. We intend to step back as ‘senior’ members of the Royal Family and work to become financially independent, while continuing to fully support Her Majesty The Queen. It is with your encouragement, particularly over the last few years, that we feel prepared to make this adjustment. We now plan to balance our time between the United Kingdom and North America, continuing to honour our duty to The Queen, the Commonwealth, and our patronages. This geographic balance will enable us to raise our son 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. We look forward to sharing the full details of this exciting next step in due course, as we continue to collaborate with Her Majesty The Queen, The Prince of Wales, The Duke of Cambridge and all relevant parties. Until then, please accept our deepest thanks for your continued support.” - The Duke and Duchess of Sussex For more information, please visit sussexroyal.com (link in bio) Image © PA

A post shared by The Duke and Duchess of Sussex (@sussexroyal) on Jan 8, 2020 at 10:33am PST

In it, the couple explain that 5% of the money they currently live off is a Sovereign Grant, while the other 95% comes from Charles The Prince Of Wales's estate. They would "prefer to release this financial tie". The site explains:

"Since the establishment of The Office of The Duke and Duchess of Sussex, 95 percent of the funding received for their Office expenditure is derived from income allocated by HRH The Prince of Wales, generated through the Duchy of Cornwall. This provision has been in place since Prince William and Prince Harry first established their offices in support of The Queen, and is the responsibility of The Prince of Wales. This information continues to be available on The Duchy of Cornwall website."

And where will it come from in the future? While Meghan and Harry haven't outlined specific logistics, their website explains their awareness of the opportunity to "earn a professional income" from "working externally" to the Royal family.

"The Duke and Duchess of Sussex take great pride in their work and are committed to continuing their charitable endeavours as well as establishing new ones. In addition, they value the ability to earn a professional income, which in the current structure they are prohibited from doing. For this reason they have made the choice to become members of the Royal Family with financial independence. Their Royal Highnesses feel this new approach will enable them to continue to carry out their duties for Her Majesty The Queen, while having the future financial autonomy to work externally."

MailOnline report Prince Harry's net worth is estimated to be around £30 million, while Meghan's is allegedly £4million. Harry apparently inherited more than £20 million from his late mother Princess Diana and around £7m from his great-grandmother the Queen Mother.

Meghan, meanwhile, earned approximately £40,000 an episode on Suits, and over triple that for films appearance. As for potential future endeavours? Harry and Meghan mention "establishing new" charitable organisations, while reports claim they could be earning £300,000+ for public appearances.

We're not sure that means they'll be in your local Tiger Tiger, but you never know.