Meghan Markle and Prince Harry's business empire 'running out of money' and more staff could be laid off
MONTECITO, CALIFORNIA: Meghan Markle and Prince Harry's business empire is reportedly "running out of money" as experts believe it could lead to the laying off of more staff, Radar Online reported.
Experts estimate that the Duke and Duchess of Sussex, who moved to the US after stepping back from royal duties, could see a decline in income as they exhaust their high-profile deals.
Meghan Markle and Prince Harry's empire is 'running out of money'
The outlet was informed that Meghan and Harry's team is quietly "hemorrhaging staff", with at least four important members on the payroll having exited in recent weeks.
An insider informed reporter Rob Shuter, "This isn't strategy — it's survival. They're running out of money, and now they're running out of people."
Notably, deputy US press secretary Kyle Boulia and longtime UK media liaison Charlie Gipson were reportedly let go.
Apart from them, two other insiders also quit, and who didn't wait around to be officially "restructured" out of a job.
Moreover, sources say that the royal couple doesn't have the budget to keep up with the PR despite hiring big names such as communications expert Meredith Kendall Maines and Netflix veteran Emily Robinson to help rebrand themselves, the outlet reported.
Interestingly, Maines released a statement and called the shake-up a pivot toward "agency-based support" across five time zones.
Meanwhile, an insider said, "That's just spin. They don't have the money to keep the team they built. They tried to recreate the royal court — but California doesn't do crowns on credit."
A different source added, "More layoffs are expected. And Meghan and Harry? They need a major win — fast."
Royal analyst says Meghan and Harry's income is 'going to decline in the future'
Royal analyst and former aide Norman Baker said that Meghan markle and Prince Harry's income is "going to decline in the future", according to Radar Online.
"There's no doubt in my mind that Meghan and Harry's income is going to decline in the future. It's declining now. They've done the big hits that they could do... there is nothing else to come, nothing else to sell apart from themselves," Baker said.
Meghan and Harry have reportedly generated substantial wealth through deals with major media outlets since leaving the royal family.
It includes a five-year, $135 million agreement with Netflix and a $20 million contract with Spotify, per the outlet.
However, the Spotify deal has come to an end, and the Netflix deal is also approaching its end, without a renewed agreement in sight. This makes their financial resources alarming, the outlet reported.
The couple's mortgage, which amounts to $9.5 million on their Montecito home, garners monthly payments that could reach between $50,000 and $100,000, per Radar Online.
Moreover, Prince Harry must also bear the costs of personal security apart from the mortgage.
Former royal protection officer Simon Morgan said, "You are looking at somewhere in the region of about $4 million a year to protect somebody who stays at home... security is not a fashion accessory, it's a need."
