Prince Harry is set to inherit millions on his 40th birthday. Here's how he and Meghan Markle make and spend their money.

Erin McDowellSep 14, 2024, 21:18 IST

Prince Harry and Meghan Markle in Colombia in August 2024.Eric Charbonneau/Archewell Foundation via Getty Images<ul class="summary-list"><li><a href="https://www.insider.com/prince-harry-meghan-markle-relationship-timeline">Prince Harry and Meghan Markle</a> left their royal roles in 2020 to become "financially independent."</li><li>Later that year, they signed a deal with Netflix reportedly worth $100 million.</li></ul>Prince Harry will reportedly inherit millions from a trust fund set up by the Queen Mother when he turns 40 on Sunday.However, that's just the tip of the iceberg when it comes to the fortune he and his wife, Meghan Markle, have amassed since <a href="https://www.businessinsider.com/prince-harry-meghan-markle-relationship-with-royal-family-timeline-2022-10">their decision to become financially independent</a> from the royal family in 2020.From lucrative deals with Netflix and Spotify to both of their book deals, the couple have made a fortune profiting from public interest in their post-royal lives. However, they have also run into controversy over the years.In June 2023, reports emerged that Markle and Harry had <a href="https://www.businessinsider.com/spotify-meghan-markle-podcast-archetypes-prince-harry-sussex-archewell-2023-6" rel>ended their partnership with Spotify</a> and that they would not receive the full $20 million payout from their Spotify deal. Here's a look at Prince Harry and Meghan Markle's combined net worth, and how they spend their money.

In January 2020, Prince Harry and Meghan Markle shared their decision to be "financially independent" from the royal family.

Prince Harry and Meghan Markle.Phil Noble/Pool/Getty Images

Harry told Oprah Winfrey in March 2021 that the royal family cut him off financially after he and Meghan "stepped back" from being senior royals.

Prince Harry and Meghan Markle spoke with Oprah Winfrey for their first sit-down interview since leaving their royal duties.Handout/Getty Images

A senior Clarence House spokesperson said that Harry and Meghan received a "substantial sum" from Charles to make their transition to financial independence easier.

Meghan Markle, King Charles III, and Prince Harry attended Trooping the Colour in 2018.Samir Hussein/Samir Hussein/WireImage/Getty Images

Harry and Meghan have also relied on inheritance from his mother's estate.

Princess Diana, Prince William, and Prince Harry visited Thorpe Park in 1993.Julian Parker/UK Press via Getty Images

Harry will also reportedly receive millions from a trust fund when he turns 40 on September 15, 2024.

Prince Harry was included in a trust fund set up by the Queen Mother.KOLA SULAIMON/AFP via Getty Images

He earned around $50,000 a year from his job as a captain in the British Army.

Prince William and Prince Harry both served in the military.Chris Jackson/Getty Images

Before she left acting to join the royal family, Meghan Markle had an estimated net worth of $5 million.

Meghan Markle was an actor before joining the royal family.Samir Hussein/WireImage/Getty Images

She also ran the successful lifestyle blog The Tig, which she shut down after getting engaged to Harry.

Meghan Markle acted on "Suits."Ian Watson/USA Network/NBCU Photo Bank/NBCUniversal/Getty Images

Meghan Markle is also a published New York Times bestselling children's book author.

Meghan Markle wrote "The Bench" based on a poem she gave Harry for Father's Day.Facundo Arrizabalaga - Pool/Getty Images, Penguin Random House

Prince Harry's autobiography, "Spare," was released in January 2023. He reportedly received a $20 million advance for the book.

Prince Harry released his memoir, "Spare," in 2023.Ben A. Pruchnie/Getty Images, Penguin Random House

In September 2020, Meghan and Prince Harry founded their own production company and signed a deal with Netflix reportedly worth $100 million.

Prince Harry and Meghan struck a deal with Netflix in 2020.Photo by Britta Pedersen/picture alliance via Getty Images

Meghan and Harry also received $30 million for a three-year podcasting deal with Spotify.

Prince Harry and Meghan Markle also signed a deal with Spotify.Kirsty Wigglesworth/Pool/Getty Images

Meghan announced in March that she would be launching her own lifestyle and alcohol brand, American Riviera Orchard.

Meghan Markle announced her brand, American Riviera Orchard, in 2024.Mark Cuthbert/Getty Images

Harry and Meghan's charity organization Archewell was temporarily deemed "delinquent" in 2024 before the matter was resolved.

Prince Harry and Meghan Markle attended a volleyball match in Nigeria in May 2024.Emmanuel Osodi/Anadolu via Getty Images

After stepping back from their roles as senior royals, Meghan and Harry repaid the £2.4 million, or $2.9 million, cost of renovating their home, Frogmore Cottage in Windsor.

Meghan and Harry previously lived in Frogmore Cottage.zz/KGC-09/STAR MAX/IPx 2019/AP

After stepping back from their roles as senior royals, Meghan and Harry repaid the £2.4 million, or $2.9 million, cost of renovating their home, Frogmore Cottage in Windsor.

They purchased their first home together, an estate in Santa Barbara, California, in July 2020 for $14.65 million.

The couple later purchased property in Santa Barbara, California.Jordan Siemens/Getty Images

Meghan and Harry have received criticism for their use of private jets to travel.

Prince Harry and Meghan were married in 2018.Steve Parsons/pool photo via AP

Prince Harry and Meghan Markle also pay for their own security.

Meghan Markle and Prince Harry have fought for the UK to pay for their security costs while in the country.Rosa Woods - Pool/Getty Images

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Prince Harry is set to inherit millions on his 40th birthday. Here's how he and Meghan Markle make and spend their money.

In January 2020, Prince Harry and Meghan Markle shared their decision to be "financially independent" from the royal family.

Harry told Oprah Winfrey in March 2021 that the royal family cut him off financially after he and Meghan "stepped back" from being senior royals.

A senior Clarence House spokesperson said that Harry and Meghan received a "substantial sum" from Charles to make their transition to financial independence easier.

Harry and Meghan have also relied on inheritance from his mother's estate.

Harry will also reportedly receive millions from a trust fund when he turns 40 on September 15, 2024.

He earned around $50,000 a year from his job as a captain in the British Army.

Before she left acting to join the royal family, Meghan Markle had an estimated net worth of $5 million.

She also ran the successful lifestyle blog The Tig, which she shut down after getting engaged to Harry.

Meghan Markle is also a published New York Times bestselling children's book author.

Prince Harry's autobiography, "Spare," was released in January 2023. He reportedly received a $20 million advance for the book.

In September 2020, Meghan and Prince Harry founded their own production company and signed a deal with Netflix reportedly worth $100 million.

Meghan and Harry also received $30 million for a three-year podcasting deal with Spotify.

Meghan announced in March that she would be launching her own lifestyle and alcohol brand, American Riviera Orchard.

Harry and Meghan's charity organization Archewell was temporarily deemed "delinquent" in 2024 before the matter was resolved.

After stepping back from their roles as senior royals, Meghan and Harry repaid the £2.4 million, or $2.9 million, cost of renovating their home, Frogmore Cottage in Windsor.

They purchased their first home together, an estate in Santa Barbara, California, in July 2020 for $14.65 million.

Meghan and Harry have received criticism for their use of private jets to travel.

Prince Harry and Meghan Markle also pay for their own security.