The Buckingham Palace statement, released this evening, states that Meghan Markle and Prince Harry “understand that they are required to step back from Royal duties, including official military appointments”. The couple will continue to maintain their private patronages and associations, “with the Queen’s blessing”, however they will no longer “formally represent” the Queen.
The Sussex’s will also not use their HRH titles, as they are no longer working members of the Royal Family.
In the statement, it was announced that the Duke and Duchess of Sussex have “shared their wish” to repay Sovereign Grant spending for the refurbishment of Frogmore Cottage.
The property is to remain as their UK family home.
The Sussex Royal website details that since the establishment of The Office of the Duke and Duchess of Sussex, 95 percent of the funding they’ve received for their Office expenditure has come from income allocated by Prince Charles.
This income is generated through the Duchy of Cornwall.
The Duchy of Cornwall website states that the revenue from the Duchy of Cornwall estate “is used to fund the public, private and charitable activities of The Duke and his children”.
This form of income differs to the Sovereign Grant, and income from the Sovereign Grant has been the remaining five percent of funding for the Office of The Duke and Duchess of Sussex.
Amid the news, some may wonder how the couple will cover their costs in the future.
While the exact details about funding their work in the future are unknown, the couple have a net worth that’s estimated to be in the millions.
In their statement released earlier this month, the paid said they’re working to become “financially independent”.
Meghan Markle and Prince Harry net worth
Following her successful acting career, Meghan has an estimated net worth of $5million, according to Business Insider.
The publication reports that together, they’re thought to have a joint net worth of $30million.
Meanwhile, Celebritynetworth.com estimates Prince Harry’s net worth is $40million (around £30million).
The full statement from Buckingham Palace reads: “The Duke and Duchess of Sussex are grateful to Her Majesty and the Royal Family for their ongoing support as they embark on the next chapter of their lives.
“As agreed in this new arrangement, they understand that they are required to step back from Royal duties, including official military appointments.
“They will no longer receive public funds for Royal duties.
“With The Queen’s blessing, the Sussexes will continue to maintain their private patronages and associations.
“While they can no longer formally represent The Queen, the Sussexes have made clear that everything they do will continue to uphold the values of Her Majesty.
“The Sussexes will not use their HRH titles as they are no longer working members of the Royal Family.
“The Duke and Duchess of Sussex have shared their wish to repay Sovereign Grant expenditure for the refurbishment of Frogmore Cottage, which will remain their UK family home.
“Buckingham Palace does not comment on the details of security arrangements. There are well established independent processes to determine the need for publicly-funded security.
“This new model will take effect in the Spring of 2020.”