Initially administered by the Royal Foundation, which was established by Prince William and Prince Harry in 2009 to advance their charitable endeavors, the Earthshot Prize transitioned into an independent charity in 2022. According to reports from The Mail, the newly formed Earthshot Prize charity generated £22.5 million in income during its first nine months. While £8.6 million was transferred from the Royal Foundation, the remaining funds came from various sources, as documented by the Charity Commission. Donations amounted to £7 million, and "gifts in kind" contributed a little over £3 million. Additionally, a grant from the American Friends of the Royal Foundation accounted for £2.7 million, while sponsorship and licensing income contributed £1.1 million.
In contrast, the Archewell Foundation, established by the Duke and Duchess of Sussex after their departure from the Royal Foundation, experienced a significant decrease in donations. According to figures published by US tax authorities, Archewell's donations plummeted from £10.3 million to just under £1.6 million in a year, representing an £8.7 million decline. As a result, Archewell incurred a loss of £535,000 for 2022, with expenses totaling £2.1 million.
It is noteworthy that the Duke and Duchess of Sussex do not draw a salary from Archewell. However, James Holt, the Executive Director of Archewell, received a salary of £180,835 and a bonus of £15,904, earning a total of approximately £200,000. The foundation employed five individuals in 2022, with a combined salary expenditure of £508,984 for the year.
These financial figures highlight the contrasting trajectories of Prince William's Earthshot Prize, which has flourished with substantial financial support, and Meghan Markle and Prince Harry's Archewell Foundation, which experienced a decline in revenue. The success of the Earthshot Prize reflects the widespread recognition and backing it has garnered in a relatively short period, while Archewell faces challenges in maintaining its financial momentum.
