Meghan Markle and Prince Harry’s combined worth is said to be around £60million – but that impressive fortune is not enough for the Duchess of Sussex, who has her hopes set on becoming a billionaire, a royal expert has claimed.
The former actress’s lucrative contract with Netflix, thought to be worth $100million (£74million), was ‘downgraded’ in August to a ‘first-look’ deal for film and television projects and the couple’s relationship with Spotify was short-lived.
But the mother-of-two is likely hoping her lifestyle brand, which this week launched its first Christmas range, will be the key to amassing a bigger fortune and joining the likes of Kim Kardashian and Jeff Bezos in the billionaire club.
Speaking on the new Channel 5 documentary, The Meghan Effect: How She Shook Up the Royal Family, royal commentator Emily Andrews claimed: ‘I’ve been told by those close to Meghan that she wants to become a billionaire.’
Andrews continued: ‘To become a billionaire, she has to build her brand to be as big and successful as it possibly can. Jam is just the beginning.’
It comes amid rumours that the Duchess could be set to launch a Kardashian-style ‘mega brand’ after she was spotted cosying up to the British Dragon’s Den star who masterminded Kim’s hugely popular Skims range.
Multi-millionaire Emma Grede shared a flurry of posts featuring Meghan as the ‘star guest’ at her Los Angeles dinner on Instagram earlier this month.
PR experts speculated the posts were an indication that Prince Harry’s wife is leaning on the business woman’s years of expertise ahead of launching a new venture.
Andrews believes a pursuit in the hospitality sector is on the cards, saying: ‘I can see her moving into hospitality more generally, and if she manages to do that, I can absolutely see her becoming a billionaire.’
While Andrews has predicted hospitality, PR experts have claimed that couture or makeup are also possibilities for Meghan.
Rumours of a potential new venture for the Duchess spread earlier this month after she posted two clips on Instagram showing her applying lipstick – with the brand names obscured.
It’s a ‘tell-tale sign’ she may be gearing up to promote her own range, industry sources said at the time.
One told The Mail on Sunday: ‘On her Instagram reel, the make-up lined up on her dressing table was unbranded or had the brand labels obscured, which felt deliberate.
‘That’s a tell-tale sign Meghan has something in the pipeline. The fact she didn’t want to promote or reveal any other brand is a big clue that she’s gearing up to promote her own range eventually – it is a sign for industry insiders.’
In New York just weeks ago to collect a ‘humanitarian of the year’ award with her husband, Prince Harry, the Duchess spoke about her desire to build a ‘long-lasting business empire’ after Netflix downgraded its multi-million-pound contract with the couple to a ‘first-look’ deal.
So far, As Ever has focused on elegantly packaged artisanal food products – but it is unclear how much profit the business is making because sales figures have not been released.
Days after her appearance in New York, experts suggested Meghan could be set to launch a Kardashian-style ‘mega brand’ after she was spotted with Ms Grede, who is also the driving force behind Khloe Kardashian’s successful Good American brand.
The Duchess was photographed attending Emma’s vegan banquet, which celebrated women ‘owning their power’ and helping ‘each other get s**t done’.
As the world waits to see what Meghan’s rumoured new business venture will be, PR experts speculated that Ms Grede’s posts could be the biggest indication yet.
Sources close to Ms Grede have ruled out an official collaboration, but PR guru Chad Teixeira believes their blossoming friendship could be a sign that Meghan is leaning on her years of expertise.
He said: ‘Meghan Markle’s appearance at Emma Grede’s Los Angeles dinner series is far too strategic to be a coincidence.
‘The timing is significant and there’s growing speculation that Meghan is preparing to launch a fashion line, and Emma Grede, who has built billion-dollar brands like Skims and Good American, is exactly the kind of collaborator who could help her do that successfully.
‘When you look at the imagery and social media content surrounding the event, it’s clearly not just a casual dinner.
‘The visuals are polished, professional, and designed to frame Meghan and Emma as equals within the same creative space.
‘That kind of staging doesn’t happen by accident, it’s a soft-launch strategy we often see in PR when something bigger is on the horizon.’
Experts have also speculated that using the unrivaled expertise of a woman trusted by the Kardashians would be appealing for Meghan, who has repeatedly shown her fondness for the famous family, from sending matriarch Kris Jenner an As Ever press package to later featuring the ‘momager’ on her Instagram story.
Meghan is simultaneously travelling at full steam ahead with her lifestyle brand As Ever, which launched its first Christmas range just days ago.
The Duchess took to Instagram to unveil the collection in a clip showing the mother-of-two decking the halls in an olive green dress, making desserts with her fruit preserves and glazing a turkey with one of her honeys.
Meghan’s festive range includes new products, such as two candles inspired by her wedding date and her August 4 birthday and a 2021 Vintage Napa Valley Brut, costing $89.
The Meghan Effect: How She Shook Up the Royal Family aired on Channel 5 on Saturday.
