“The costs pile up quickly, but it comes with luxury living,” a property expert told The Sun. “Keeping a place this big properly staffed and maintained takes major money.”
Moreover, royal expert Katie Nicholl said that an expert told her: “You can’t live in Montecito the way they’re living without it costing about $20 million a year.”
Prince Harry’s financial plan for Prince Archie and Princess Lilibet
Even though Harry and Meghan might have backlash regarding their business ventures, the Duke is doing well. In any case, if money had been tight, the birthday present he got for his 40th birthday would have solved many problems.
It’s been reported that Harry received around $10 million from a family trust fund set up by the late Queen Mother when he was only a child.
According to several news outlets, Harry’s great-grandmother set up a trust to provide tax-free money to all her great-grandchildren.
“There was a trust fund set up at the time. It was a way in which the Queen Mother could set aside money for when her great-grandchildren were older and a way of passing a slice of her estate down in a tax-efficient way. It was a way in which some of her estate could be ring-fenced for them,” a former palace aid told Express.
Despite that, there have been concerning reports about Harry’s finances. However, aristocrat Lady Vicotria Hervey said that the Duke is “doing well financially.”
“He got an extra chunk of money for his birthday,” she told GB News.
“So we don’t know how he’s deciding to spend that. I’m sure that will come in very handy for what they [him and Meghan Markle] want to do next.”
“He wants to put the inheritance away for their future”
Harry was also handed millions after his mother tragically passed away. Looking to the future, his children, Prince Archie and Princess Lilibet, are growing up in a world of luxury, and it seems like Harry has a plan in store for his children.
According to a GB News source, Harry will ensure that his son and daughter inherit millions of pounds. The money he got from his great-grandmother’s trust fund is not for him to use but for his children.
“He wants to put the inheritance away for their future, especially for Archie and Lili,” the source told GB News.
While having a lot of money makes some parts of life easier, in Harry and Meghan’s case, having a lot of cash has also brought troublesome headlines, which have also dragged their children into the mix.
Archie is beginning kindergarten this fall, while Lilibet is enrolling in preschool.
There’s still plenty of time until Archie and Lilibet begin their studies, which include at least high school or college. Until then, they will likely attend a school near the fashionable Montecito, California, where they live.
One journalist suggests that the Sussexes have begun looking at schools in the surrounding area. Inevitably, Harry and Meghan are now facing much criticism for their choice of possible institutions.
Prince Harry & Meghan Markle criticized over school decision for Archie & Lilibet
Speaking with the Mirror, Rochard Mineards, with the Montecito Journal, revealed that Harry and Meghan have been eyeing a local private school. And it costs a pretty penny indeed.
“The Riven Rock twosome were spotted inspecting an institution’s campus last week, bringing them one-step closer to a decision,” Mineards said.
He added: “School fees in our area range from $60,000 to $50,000 plus for older grades, with most of the institutions having 100 percent of students going on to attend four-year colleges.”
It can be assumed that Harry and Meghan have the funds to send their children to private schools, and in a worst-case scenario, they could use the inheritance Harry received from the trust fund.
However, the fact that Harry is looking at such an expensive school only fits well with some.
US-based journalist Lee Cohen has moved to slam the royal couple, branding them “frauds.”
Expert brands Prince Harry & Meghan as “frauds”
In an interview with GB News, he said it’s “infuriating” that the Sussexes are planning to enroll their children in an “outrageously expensive” school, not least since they have the issue of equality close to their hearts.
“Their supposed commitment to progressive causes is nothing but a facade,” he continued. “If they’re willing to indulge in this epitome of elitism, there is no advocating for equality Yet they’re willing to pay staggering tens of thousands per year for their children’s education. How can they possibly justify this when so many families struggle to afford even the basic necessities?”
Cohen concluded his rant by accusing the couple of sustaining their “systems of privilege,” even though they claim to be working against it.
“Sending their children to such a prestigious institution completely exposes the frauds that Harry and Meghan are. By perpetuating the very systems of privilege that they claim to expose,” Cohen told GB News.
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