How Do Other Members Of The Royal Family Earn Money?

Meghan Markle and Prince Harry won't be the only British royalty to be financially independent.
PHOTO: NEIL MOCKFORD/GETTY IMAGES

Since Prince Harry and Meghan Markle announced last week that they plan to step down from their positions as "senior" members of the Royal family and become financially independent (a move which they had apparently not informed the Royal family about), one question that remains to be answered is whether Harry and Meghan are now on the job hunt.

While it's been rumored that the Duchess of Sussex is already in talks to partner with top fashion brand Givenchy, nothing has been confirmed yet as to how exactly the royal couple plan to fund themselves in their new capacity as non-senior members of the Royal family.

Up until now, Prince Harry has benefitted from the Sovereign Grant, a government-supported fund that finances actively working members of the monarchy. According to the statement posted on sussexroyal.com, Harry and Meghan would actually "prefer to release this financial tie" as they "value the ability to earn a professional income"which, in their previous roles, they were unable to do.

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While Meghan has previously worked as an actor, starring in US legal drama Suits, and Prince Harry rose up the ranks in the army before ending his active service in 2015, it's unlikely that they will return to such roles in their new freedom.

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So, what exactly will they do? As we wait to find out, let's look at how other non-working members of the Royal family earn their keep.

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Princess Eugenie

Princess Eugenie has used her Art History degree (a favorite amongst Royals it seems) from the University of Newcastle to carve out a career for herself in the art world.

Eager to enter the working world, after she graduated, Eugenie briefly moved to the US to work for a New York-based auction house. She returned to the UK in 2015 to take up a new role at London art gallery Hauser & Wirth. At the age of 29, Eugenie now holds the impressive title of Director at the gallery.

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Speaking about her position at Hauser & Wirth in 2016, the Princess of York explained that her role includes "planning special projects, supporting the artists in the gallery and managing events."

It all sounds pretty vague, but it's reported that Eugenie receives a hefty salary for her work at the gallery (a rumored £110,000 or P7.3 million a year). All in all, the Princess is suspected to be worth an approximate £3.9 million or P258 million.

Princess Beatrice

Princess Beatrice, 31, who is set to marry her Italian property developer boyfriend, Edoardo Mapelli Mozzi later this year, has had a mixed professional life since she gained her BA in History at Goldsmiths College, London. First, she completed a stint as a personal shopper at London department store Selfridges before changing track and volunteering at the Government Foreign Officeboth of which she refused to receive a salary for.

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She briefly toyed with the idea of working in film production when she undertook an internship at Sony Pictures, but it seems she eventually settled on a career in the financial sector. Since 2015, Beatrice has held positions at venture capital firm Sandridge and software company Afiniti where she is now VP of Partnership and Strategy.

According to the company's website, she's responsible for the "management of the strategic Afiniti partnerships" as well as company growth through "unique initiatives and client development." We're not sure what that means, but surely an impressive job title like Vice President comes with an equally impressive pay packet?

Beatrice is reported to have a net worth of around £3.8 million or P251 million, which was boosted by the alleged sum of £820,000 or P54.2 million she received when her parents divorced.

Peter Phillips

The oldest (and reportedly favorite) grandchild of Queen Elizabeth II, Peter Phillipsson of Princess Anne and Mark Phillips—has also had somewhat of a varied career history. According to his LinkedIn page, Phillips has held roles at the Royal Bank of Scotland, Williams Grand Prix Racing and even sports car company, Jaguar.

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It seems Peter (who, along with his sister
Zara, does not hold a royal title following Princess Anne's decision to raise them outside the Royal bubble) has pursued a lifelong passion for sports, having originally studied Sports Science during his time at the University of Exeter.

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Peter now serves as CEO and Chairman of City Racing, a horse racing company, alongside being Managing Director of Sports & Entertainment Limited. Through the latter, he was able to convince the royals to allow him to organize an event to celebrate the Queen's 90th birthdayfor which his company received a £750,000 or P50 million payout. While it's unclear what salary Peter himself receives for his work, his estimated net worth is £20 million or P1.3 billion.

Zara Tindall

Zara Tindall has had the most public-facing career out of all of Prince William and Harry's cousins. Like her mother Princess Anne before her, she has become an accomplished and Olympic medal-winning equestrian.

However, it seems her plans weren't always to follow in her mother's footsteps: She studied at the University of Exeter as a physiotherapist. Shortly after qualifying, she began riding professionally and became the first member of the Royal family to sign a sponsorship deal when she partnered with Cantor Index in 2003.

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Since then, she has not shied away from brand endorsements to help cover the cost of her equestrian career, teaming up with both Land Rover and Rolex over the years. In 2015, she even launched her own jewelry collection inspired by her lifelong love of horses. Her net worth is thought to be around the £15 million or P990 million mark.

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It seems that Zara is perhaps the one who Harry and Meghan will turn to for inspiration as they step into their new roles as financially independent from the monarchy.

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This article originally appeared on Cosmopolitan.com/uk. Minor edits have been made by the Cosmo.ph editors.

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