Prince Harry and Meghan Markle have recently sold their house in Montecito, California, amidst reports of their extravagant spending habits.
The sale comes after Harry’s unsuccessful attempt to secure a pension from King Charles during the coronation ceremony at the monastery.
Sources reveal that Harry’s request was flatly denied by the king, leading to his immediate departure from the event with visible anger.
It seems that the couple’s expenses far outweigh their income, as calculations show that Meghan debuted an astonishing $143,000 worth of new jewelry and clothing last year alone.
While their lucrative deals with Netflix and a billion-dollar Wall Street investment fund may suggest otherwise, insiders claim that their spending habits are becoming increasingly unsustainable.
Speculation about the couple’s living situation intensified when moving trucks were spotted at their Montecito mansion.
Crystal Martin on Cora confirmed this information, stating that the house has indeed been sold.
Although they have been living apart for some time now, it is important to note that these claims remain alleged.
Earlier this year, news outlets reported that Harry and Meghan were already considering selling their Montecito residence.
However, due to their high-profile status, the property will not be listed on the market.
Instead, it will only be shown to serious buyers with confirmed funds.
While the couple wishes to remain in the neighborhood or nearby, they are not entirely satisfied with their current house and location.
According to sources close to Heat UK, there may be more to their decision than meets the eye.
As the world gradually reopens, Harry and Meghan aim to expand their global connections and strengthen their presence across the United States and beyond.
This ambition has prompted them to consider purchasing additional properties, such as a townhouse or beach pad in Beverly Hills or Malibu.
They are also exploring different houses in Montecito.
The couple’s desire to broaden their horizons and engage with a wider social circle has led them to consider an apartment in Manhattan and possibly even Washington D.C.
Maintaining their current Montecito estate requires significant upkeep, which they deem unnecessary if they will not be residing there full-time.
Furthermore, their move to California puts their Frogmore Cottage in the U.K. at risk.
Since stepping down from the royal family, Harry and Meghan no longer receive financial support from the Sovereign Grant.
The collapse of the Silicon Valley bank has also cast a shadow over their finances, as they are both based in California.
Royal biographer Angela Levin sheds light on the couple’s financial troubles, stating that King Charles refused Harry’s persistent requests for more money.
According to Levin, Harry was unaccustomed to budgeting and had purchased an extravagant $11 or $14 million house with 16 bathrooms.
The loss of Queen Elizabeth II on September 8, 2022, marked Charles’ ascension to the throne as King Charles III, making Prince William the next in line for the British throne.
This change in hierarchy resulted in William inheriting a substantial fortune, including the Duchy of Cornwall, which spans around 130,000 acres in southwest England and is valued at approximately $1.2 billion.
The Duchy of Cornwall was established in 1337 by King Edward III to provide private income to his heir, Edward, later known as the Black Prince.
It continues to serve this purpose to this day, funding the heir to the throne.
The estate includes numerous leases, tenancy agreements, farms, development land, and commercial properties, generating substantial revenue.
These funds are utilized for public, private, and charitable activities, as stated on the official website.
In conclusion, Harry and Meghan’s decision to sell their Montecito mansion reflects their desire to explore new opportunities and expand their global connections.
Their lavish spending habits have raised concerns about their financial stability, especially after Harry’s failed attempt to secure a pension from King Charles.
As they navigate their new lives outside the royal family, the couple faces the challenge of maintaining their luxurious lifestyle while adapting to their changing circumstances.
