Prince Harry has a new role – and with more resources to secure his financial future as he and his wife prepare to give up their bonds.
The Duke of Sussex is set to become the director of impact at San Francisco-based mental health startup BetterUp, the company announced on its website Tuesday morning. The descendant of the British royal family told The Wall Street Journal that it aims to “help make an impact on people’s lives”.
Prince Harry is expected to provide contributions on a number of company initiatives, including product strategy and charitable contributions – in addition to being a public advocate for topics related to mental health, a topic he recently embraced.
At the moment, there are no details on his pay or employment contract, although the Wall Street Journal says he will join the company’s leadership team as a “corporate executive”. He is likely to spend some time in San Francisco from the company. headquarters, in addition to participating in general meetings and special events.
BetterUp, which serves more than 300 companies, including Hilton, NASA, Chevron, Mars, Genentech, Snap Inc. and Warner Media, raised $ 125 million in its last round of financing – valuing the company at an impressive $ 1, 73 billion.
In a recent interview, CEO Alexi Robichaux previously said that “leading to the pandemic, [BetterUp was], on average, doubling or tripling [revenue] year after year “, adding that the company expects even stronger growth in the coming years, as companies continue to invest in mental health to prevent the impact of the pandemic.
BetterUp’s impressive growth means there is more wealth for Prince Harry to share, putting him further down the road to becoming financially independent as he and his wife, Meghan Markle, start a new life in the United States.
In December, the Duke and Duchess of Sussex signed a 3-year podcast deal with Spotify (SPOT) for about $ 15 million – $ 18 million. Still, it was the 5-year deal with Netflix (NFLX) that generated the most buzz, with several reports saying the deal could be valued at up to $ 100 million.
Prince Harry also partnered with Oprah in an Apple TV + (AAPL) mental health series. The project, which originally was due to go live in 2020, has been put on hold.
Combined with the duo’s various appearances, which reportedly amount to around $ 1 million, it is clear that Harry and Meghan continue to expand their media empire – and establish influence outside of their real position.
Financial Ireal match impact
The polarization of the couple’s departure from the House of Windsor is expected to have a significant impact on their finances, which – while not entirely transparent – stand to gain from their various commercial ventures.
Before the new wave of business, the couple’s combined net worth was $ 10 million, according to Forbes, with a sizable share of the equity in their nearly $ 15 million California mansion. For contextual purposes, Queen Elizabeth II is worth about $ 500 million.
Prince Harry inherited about $ 10 million in assets from his late mother, Princess Diana, with Meghan Markle contributing approximately $ 2 million (after tax) to her various works as an actress.
The Sovereign Grant, financed in part by British taxpayers, previously contributed 5% of the couple’s total income. It is currently used to finance and support the Queen’s official duties, including travel, security, personnel and building maintenance.
The remaining 95% of his income came from the Duchy of Cornwall, a privately owned account maintained by Prince Charles. The property is valued at about $ 1.2 billion, with Prince Charles receiving approximately $ 28.3 million to distribute to his family.
Alexandra is an Entertainment Producer and Correspondent at Yahoo Finance. Follow her on twitter @ alliecanal8193
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