How much will Harry make from his book? Prince and Meghan Markle’s Spare book and Netflix deals explained
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Millions of people - whether they love the prince or aren’t so keen on him - are expected to pick up the book, which promises to divulge insider secrets of the Royal Family, shedding light on the usually private relationships of its members.
Already, headlines have been stirred by the book’s leaking (the Spanish edition of the tome was accidentally released early) and a raft of television interviews the prince has conducted to promote it.
Those who side with the prince say it’s high time he got to share his side of the story, while those who cast Harry as the villain say it’s nothing more than a publicity stunt, designed to raise funds now missing from his bank account since his official withdrawal from the Royal Family.
But how much is the book projected to make in profit, and how much exactly will Harry earn from it - and his lucrative deal with Netflix? Here is everything you need to know
What is Prince Harry’s net worth?
It’s hard to gauge an accurate figure on what Prince Harry’s net worth may actually be, The exact amount of wealth he is sitting on is not a number that is publicly available.
However, a number of outlets have reported that the combined net worth of Harry and Meghan is thought to be around $60 million (£49.2 million).
How much money will Harry make from ‘Spare’?
It was first revealed that Harry would release a memoir through Penguin Random House in July 2021, but it was thought that Harry had been working on secret drafts of the book for up to a year previously.
Page Six reported at the time that Harry would receive at least $20 million (£16.4 million) up front for the publication of his memoirs, and that ghostwriter J.R. Moehringer, Harry’s co-author, would reportedly receive an advance of at least $1 million (£820,000).
The website said that although Harry declared that all proceeds from the book would be donated to charity, “it’s yet to be made clear whether he will keep the multimillion advance.”
The Guardian reports that Harry has already donated $1.5 million (£1.2 million) to Sentebale, an organisation he and Prince Seeiso of Lesotho formed to benefit vulnerable children and young people living with HIV/AIDS in Lesotho and Botswana, as well as £300,000 to WellChild, a charity that allows young people with severe medical requirements to receive treatment at home rather than in hospital.
But Spare isn’t the only book expected to come from Harry and Meghan, and the memoir is thought to be part of a four-book publishing deal.
That deal reportedly also includes a second book by Harry (originally intended to be published “after the Queen’s death”, according to the Daily Mail) and a wellness guide by Meghan. The topic of the fourth instalment is as yet unknown.
How much was Harry’s deal with Netflix worth?
Seven months on from leaving their positions as senior working royals in 2020 due to conflicts within the family and difficulties with royal life, Harry and Meghan inked a lucrative contract with Netflix valued at over £100 million to make documentaries, children’s programmes, scripted shows, and feature films.
At the time, Meghan and Harry released a statement saying: “Our focus will be on creating content that informs but also gives hope. As new parents, making inspirational family programming is also important to us.”
The first fruits of that deal with Netflix came just a few weeks ago with the six-part ‘ Harry & Meghan’ docuseries, which debuted on the streaming giant on Thursday 8 December.
At the time of the Netflix deal, Harry and Meghan also signed a lucrative deal with Spotify, and the audio branch of their Archewell production company - set up to “produce programming that uplifts and entertains audiences around the world” - is working on projects to be streamed there. Spotify has in the past released episodes of Meghan’s ‘Archetypes’ podcast.
The news came after Princess Diana’s friend Jemima Khan stepped down from helping the show’s team recreate the final years of her life, saying The Crown had not handled Diana’s story “as respectfully or compassionately as she had hoped”.
The Duke of Sussex was criticised for not “finding his voice” on how Netflix was portraying his mother, and was urged to distance himself from the streaming giant.
Angela Levin, author of Harry: A Biography of a Prince, told The Sun: “Harry has remained absolutely silent about Netflix. He should tear the deal up and make a stand for his mother. What’s more important? Money or defending his mum? It’s astonishing he can’t find his voice on this.”