Prince Harry and Meghan have seen a significant increase in their wealth over the past two years, simply by residing in their luxurious home in the US.
The couple purchased the sprawling 18,671 square foot Montecito mansion for £11.93 million, which is approximately $14.6 million, back in June 2020.
Fast forward to today, the property’s value has more than doubled in just 23 months.
Situated in Oceanside Montecito, this lavish estate boasts 9 bedrooms and an impressive 19 bathrooms, currently appraised at £23,960,720 or $29,350,320 million by the property website Redfin.
If the Duke and Duchess of Sussex were to sell their residence now, they could potentially earn £12 million, nearly $15 million.
On the other hand, Zillow estimates the value of their home at £21.6 million, equivalent to $26,485,500, but speculations suggest it could fetch as high as £30 million or $36.81 million.
A luxury real estate agent noted that property prices have been on a steep incline in the past 18 months, showing no signs of slowing down.
The agent highlighted how Harry and Meghan have been able to witness firsthand the remarkable surge in their home’s value, surpassing the average appreciation rate in California’s highly competitive housing market.
This spike in value has fueled rumors about the couple contemplating selling their property.
Meanwhile, Netflix has made headlines by cutting ties with Meghan Markle‘s upcoming project, resulting in the termination of 150 employees due to declining revenue.
The streaming service recently axed Meghan’s project, Pearl, prompting mixed reactions on social media.
A Twitter user expressed disbelief over the reported $100 million loss associated with the Sussexes’ deal with Netflix, attributing the decision to unforeseen circumstances within the company.
Another user criticized Harry and Meghan, labeling them as “bad luck” and urging others to boycott Netflix.
Netflix’s recent downsizing initiatives come following a rare decline in its subscriber base for the first time in ten years, losing 200,000 subscribers in the initial quarter of the year.
The layoffs, affecting around 2% of its North American workforce primarily based in California, were attributed to a decrease in revenue.
The streaming platform emphasized that these measures were driven by business requirements rather than individual performance, acknowledging the difficulty of parting ways with valued colleagues.
The Duchess of Sussex’s involvement as an executive producer in the feminist cartoon series, Pearl, faced cancellation amidst Netflix’s financial challenges.
Royal expert Richard Fitzwilliams expressed concerns over the implications of these cutbacks on the Sussexes.
He questioned Netflix’s intentions towards the royal couple, especially considering their substantial deal and upcoming projects.
With Harry’s Heart of Invictus series on the horizon, the pressure mounts on the couple to deliver results in light of Netflix’s evolving content strategy and financial constraints.
The company’s need to restructure and reduce expenses may influence the Sussexes to accelerate their production output to meet expectations in a rapidly changing landscape.
