Prince Harry and Meghan Markle seem to be learning the hard way that the glamorous lifestyle they’ve chosen comes with a hefty price tag.
Recently, it was revealed that the Sussexes have been hit with an enormous tax bill for their sprawling Montecito mansion—a figure that would make anyone’s eyes water. The grand total? A staggering $100,000. The former royals are now grappling with a tax burden that seems almost as large as their estate. In a decision that has left many people puzzled, Harry and Meghan splurged on an $11 million mansion with seven bedrooms and a host of unforeseen complications.
Though the couple may have envisioned a life of luxury among Montecito’s elite, maintaining such a grand estate has proven to be far less glamorous than they anticipated. The property taxes alone are enough to cause alarm, and they’ve been steadily rising. In 2022, the Sussexes faced a $110,000 bill, following a $108,000 bill in 2021. Clearly, even former royals aren’t immune to the taxman’s reach.
Despite pulling in millions from lucrative deals with Netflix and Spotify, there are hints that the Sussexes’ financial situation might not be as rosy as it appears. After all, there’s only so much they can capitalize on their royal status and grievances. While their income may look impressive on paper, their extravagant lifestyle is rapidly eating away at their earnings. Maintaining a $14 million mansion comes with significant expenses beyond just the taxes.
There are numerous hidden costs associated with keeping up such a property. For instance, the massive garden and lawn likely require a fortune just to maintain, especially in an area prone to mudslides, which drives up insurance premiums. What was once an idyllic home may be turning into more of a financial burden than a blessing. Adding to their expenses are the costs of groceries, vehicles, wardrobe design for Meghan and the children, and more.
Perhaps one of the more amusing elements of their story is just how unprepared Harry and Meghan seem for the realities of everyday life. In a memorable interview with The Cut, Harry tried his hand at home maintenance and proudly shared his experience. However, his complaints about plumbing mishaps revealed just how out of his depth he truly was. The thought of Harry attempting to fix leaky pipes almost borders on comedic, though he certainly deserves some credit for trying. Still, their Montecito mansion, humorously dubbed “Montecito Show” by some, seems to have its fair share of issues.
As the tax bills keep piling up, the Sussexes’ financial future is looking increasingly precarious. While their Montecito neighbors—like Oprah Winfrey, Ellen DeGeneres, and Katy Perry—are worth millions, or even billions, Harry and Meghan’s wealth pales in comparison.
Oprah, for example, sits on a fortune of about $3 billion, while Harry and Meghan are struggling with a fraction of that. It’s safe to say they’re the “paupers” of the neighborhood, despite their best efforts to fit in with the elite. There’s also irony in the fact that the couple, who appeared to believe they could easily join Montecito’s upper echelons, now seem stuck with a mansion they may not be able to afford in the long run.
Rumor has it that the mansion had been on the market for quite some time before Harry and Meghan purchased it, likely due to ongoing maintenance issues, including plumbing problems and postponed repairs. In hindsight, it seems they may have bought themselves a money pit. With their bills mounting and their funds potentially dwindling, many are beginning to wonder what’s next for the couple. Harry’s upcoming 40th birthday might not feature the lavish celebration they once envisioned, perhaps instead being a humble potluck at a local Moose Lodge. As for the mansion? They might have to sell it sooner than they had hoped.