While it's hurricane season again in the Atlantic, in faraway Montecito, the storm clouds gathering over Prince Harry and Meghan's home are looking a lot more concerning.
Suddenly, there's a multi-million-pound-shaped hole in the couple's finances. This not only jeopardizes their cozy California lifestyle but also threatens to undermine the model of their post-royal life, the one in which they are not reliant on financial support from Prince Charles.
Though they may not be hitting the panic button just yet, the news that streaming giant Spotify has terminated its contract with them is, at the very least, an uncomfortable reminder that even Harry and
Meghan's global fame is no guarantee of the long-term commercial value of the Sussex brand. According to trade experts, the greatest danger for the couple is the possibility of contagion. Once one high-profile supporter disappears, others may follow suit.
Yesterday, Mark Borkowski, the PR marketing guru, suggested that Spotify's decision to scrap their contract with Harry and Meghan, at the same time as canceling their popular Archewell Audio podcast, is a sign that their star is truly falling. Meanwhile, Spotify was accused of falsely manipulating its own charts to keep Meghan at number one, despite her daily listeners lagging far behind those of comedian Joe Rogan and other stars.
On the surface, Harry and Meghan seem to enjoy an enviably luxurious life. They have chauffeurs to take them anywhere, bodyguards to protect them, and staff to attend to their needs. However, all of this comes at a cost.
The mortgage payments for their sprawling faux Tuscan 9-bedroom home, which boasts more bathrooms than there are working members of the royal family, are significant. They initially took out a $13.9 million mortgage when purchasing the property for a total of $20.5 million.
Their vine-covered 14,000 square foot house includes a home cinema, spa, gym, and a lift. While it's possible that the couple has paid off some or all of the loan at this point, it's not entirely clear based on their U.S. records. The couple's top financial priority is their security, which incurs substantial annual costs estimated between $3.7 and $9.3 million, providing round-the-clock protection.
Whenever they go out, the couple and their children have bodyguards accompanying them, with security teams surveying locations in advance of their visits and robust vehicles ensuring their safe transportation.
However, during their July 4th appearance in Montecito, locals confirmed that they didn't see any bodyguards around them. This could signal that they have fired all their bodyguards to save money, and it suggests that the Sussex brand is running out of time.
The question remains whether Prince Charles will forgive Harry's mistakes. Grant Harrold, formerly a butler for King Charles, said, "I'd never say never." He believes it's possible that one day Harry might want to come back home and even purchase property in the UK if he desires a closer association with Britain. Megan doesn't have much family in Britain, as they are primarily based in the United States, where Harry has chosen to establish his home, at least for now.
Harry was born and raised in Britain, and Grant believes that his ties to the homeland will be too strong for the Duke to sever completely. As he explained, Harry will want to maintain that association with Britain just in case he ever decides to return. Grant doesn't think Harry wants to sever those ties entirely.
