Meghan Markle, Prince Harry net worth: How they pay back $3 million Frogmore Cottage renovation cost

Meghan Markle and Prince Harry have reportedly fully paid back the costs of renovating Frogmore Cottage last year. Many point to the interesting timing of the payback after the royal couple struck a deal to produce media content for Netflix.

Where the financially-independent Sussexes got the payment money?

One of the many criticisms Meghan and Prince Harry faced after they got married was the amount spent on renovating the Frogmore Cottage. Now, following their decision to become financially independent British royals, the Sussexes have paid back the cost for the structural repairs that were reportedly around $3 million in the form of a “contribution.”

A representative of Prince Harry confirmed the repayment saying, “This contribution as originally offered by Prince Harry has fully covered the necessary renovation costs of Frogmore Cottage, a property of Her Majesty The Queen.” It was also reiterated that they will continue using the property as their official residence in the UK even now that they have stepped back as senior members of the British royal family.

The announcement of Meghan and Prince Harry’s multiyear collaboration with Netflix, unsurprisingly, left out the financial details. However, the Daily Mail reported it involved a £112million, or more than $145 million, and a potential documentary focused on the life of the late Princess Diana.

Before the new Netflix deal, Prince Harry and Meghan’s reported combined net worth is around $30 million. Prince Harry was believed to be worth around $25 million from what he inherited from Princess Diana and the allowances he received from Prince Charles, the Duke of Cornwall. Meanwhile, the remaining $5 million reportedly comes from Meghan’s earnings as a former actress. She was a series regular in the legal drama “Suits” and played the role of Rachel Zane for seven seasons until she had to leave the show upon getting engaged with Prince Harry.

What was used to pay for the Frogmore Cottage renovations in 2019

The “reconfiguration and full refurbishments” of structures part of the Frogmore Cottage grounds, which cost £2.4 million or more than $3 million, were part of the Sovereign Grant 2018-19 report. The royal family is partially funded by UK taxpayers’ money through the Sovereign Grant in exchange for surrendering the earnings collected from the Crown Estate. The grant pays for the official communications and travel expenses of the royal family as well as for the maintenance of royal buildings and payment of their employees.

Meghan and Prince Harry shocked the world in January after announcing that they will “step back as senior members of the Royal family.” Part of that huge change is becoming financially independent, which means no longer relying on the Sovereign Grant funding or allowances sourced from the Duchy of Cornwall anymore.

Featured photo by the Northern Ireland Office under Creative Commons license (CC BY 2.0)