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Yahoo Finance's Alexandra Canal breaks down where Prince Harry and Meghan Markle's finances stand.
ZACK GUZMAN: Welcome back to Yahoo Finance Live. In this week's Fame and Fortune, spotlight on growing tensions between Prince Harry and Meghan Markle-- dare I say the highest tension that we've seen between an American and royalty since 1776. Joining us now for more on that is Yahoo Finance's Ali Canal. And Ali, I mean, tongue in cheek, but this is beginning to be a pretty serious stance that these two are taking against the royals, considering that they're now-- well, they had been financially going their own, but what do we know so much about that in terms of their own finance?
ALEXANDRA CANAL: Yeah, and you're right. There has been a lot of tensions between the royal family and Harry and Meghan. They actually are going to be sitting down with Oprah on Sunday for a two-hour tell-all, which will focus on their life since leaving the royal family one year later. And with leaving that family came with a significant impact to their finances. At the current moment, Harry and Meghan are worth approximately $10 million, which does include equity in their California mansion that they recently purchased.
So let's break down how they got here. So on the side of Harry, he inherited about $10 million from his late mother, Princess Diana. Meanwhile, Meghan Markle was worth approximately $2 million for her various work as an actress, especially her leading role in "Suits." However, I did mention that California mansion. Now that is worth nearly $15 million, according to Forbes. The couple put down $5 million and then took out a $10 million mortgage.
On top of that, they also decided to repay the renovations that were done to their cottage over in the UK. Now the renovations were previously funded by the sovereign grant, which is basically a collection of money that's partially funded by the UK taxpayers. But because they left the royal family, Harry and Meghan decided that they would donate $3 million to that fund and repay for those renovations.
So that leaves them with just about $5 million total, excluding the equity from their house. And if we can compare that to how much the queen is worth, Forbes, in their latest estimate, said she's worth $500 million. It's significantly less. So because of that, Harry and Meghan have to find alternative forms of income to truly be financially independent. And they found that through various partnerships with different companies.
So most recently, they partnered with Spotify for a three-year podcasting deal. Forbes estimates that's worth between $15 and $18 million. Meanwhile, they have a mega deal with Netflix. Multiple reports have said that's worth up to $100 million. So both of those deals, as well as their different appearances-- Harry spoke at a JP Morgan conference. And that was worth around $1 million. All of that is helping them achieve financial independence away from the palace.
So they really seem to be expanding their media and streaming empire, focusing on their various charity initiatives as well. And I'm sure we're going to get a lot more information on how that relationship is with the palace when that special airs on Sunday as well.
ZACK GUZMAN: Yeah, that special going to be interesting to see kind of how they hit back. Because right now, I think a lot of people have been talking about, you know, their waning public image amidst this latest scandal. And as you're kind of highlighting there, a lot of that work and a lot of the interest stems from them, I guess, being kind of included in the royals. And if they chose to go this other route, I mean, how important does that become maybe years down the line, especially if maybe some of these partnerships in media don't pan out?
ALEXANDRA CANAL: Right, but it is important to keep in mind that Harry and Meghan are extensions of British soft power. And the young royals-- and this includes Kate and William as well-- they do have a lot of power and influence completely on their own. So I think in the case for Harry and Meghan, it doesn't really matter if they are the Duke and Duchess of Sussex. It doesn't matter if they are the brand Sussex Royal, which they did try to trademark in the UK before pulling that application due to some controversy over their use of the word, "royal." It just matters that they are Harry and Meghan, and that is a brand completely onto itself.
So I think you're going to continue to see big name companies try to think about how they can incorporate the former royal couple, I should say, into their business model, especially since they know that they're in a position where they just want to make some really great deals. They want to keep expanding that empire that they already have. So I ultimately don't think it really matters if they are completely separated from the royal family. I think this special on Sunday tells you right there that people are still interested for what they're doing, what they're up to, their next moves.
So hopefully, that continues to be a lucrative option for them, especially as they really do seem to be completely independent from the palace. When they first separated, they were expected to keep receiving a little bit of an allowance from the Duchy of Cornwall, which is managed by Prince Charles. However, multiple reports after that Netflix deal said that that is no longer. So they really are completely on their own now.
AKIKO FUJITA: OK, a lot of people will be watching that interview this weekend. Ali Canal, thanks so much for that.