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No longer a working member of the royal family, Prince Harry has a new job: executive at a Silicon Valley startup.
The Duke of Sussex will become impact director for BetterUp Inc., the fast-growing mental health and training company, which the company plans to announce on Tuesday.
The role is the latest move into the business of the duke, who, with his wife, Meghan Markle, resigned as a full-time working member of the British monarchy and won his celebrity with a series of lucrative deals in recent months.
“I intend to help make an impact on people’s lives,” said Prince Harry in an email response to questions about why he is taking the job. “Proactive coaching offers endless possibilities for personal development, greater awareness and a better life in all directions.
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In the BetterUp position, Prince Harry should participate in initiatives, including decisions on product strategies and charitable contributions, and publicly advocate on topics related to mental health.
“It’s a significant and significant role,” said Alexi Robichaux, CEO of BetterUp, who said he was introduced to Prince Harry through a mutual friend and who started talking to him last fall.
The role of impact director is relatively rare in the corporate world, although some companies, including Salesforce.com Inc., do. The title is most common among nonprofits in organizations like Amnesty International USA and United Way.
Mr. Robichaux declined to comment on how Prince Harry would be compensated and did not share details of his employment contract, saying he would join the company’s leadership team as a “director of the corporation”. Prince Harry will not manage employees or have direct reports, but he will likely spend time at the company’s San Francisco headquarters, when it is safe, and attend general meetings, Robichaux said. He must also appear at special company events.
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Prince Harry has always been open about his personal struggles with grieving and mental health issues, and BetterUp executives have been drawn to his previous advocacy work as a member of the royal family, feeling that he could bring a different perspective to the company, Mr Robichaux said. He added that he considered the Duke’s military experience as another differentiating force. “He comes from a very different background” than other executives, he said.
Meghan Markle and her husband, Prince Harry, are advocates of mental health. (Getty)
“It is about recognizing that it is not so much what is wrong with us, but more about what has happened to us throughout our lives,” said Prince Harry of the importance of striving to maintain mental form. “Often, because of social barriers, financial difficulties or stigma, many people are unable to focus on their mental health until they are forced to do so. I want us to move away from the idea that you must feel broken before asking for help. “
In addition to the BetterUp work, the duke and duchess signed an agreement to create content for Netflix Inc. and another to present podcasts to Spotify Technology SA. The five-year deal with Netflix is valued at $ 100 million, according to people with knowledge of the business, The Wall Street Journal previously reported.
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The Duke and Duchess of Sussex undertook a public relations campaign, recently appearing in a prime-time interview with Oprah Winfrey that drew millions of viewers. In the interview, the couple discussed mental health issues, and the duchess said she had suicidal thoughts after marrying a member of the British royal family.
Although more companies have summoned celebrities in recent years for their experience in pop culture and to give organizations a marketing boost, most have put prominent figures on their boards, rather than on the board. BetterUp’s Robichaux said the company decided on the impact director position because it wanted a position that reflected the wide range of responsibilities.
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Robichaux says there was little resistance from BetterUp’s board of directors or others within the company about bringing Prince Harry on board.
“He is synonymous with this approach to mental readiness and really investing in yourself,” said Robichaux. “It was not a difficult domestic sale.”
The CBS prime-time special “Oprah with Meghan and Harry” on Sunday night averaged 17.1 million viewers to end the largest prime-time audience for a non-sporting event during the 2020- 21. (Joe Pugliese / Harpo Productions via AP)
After its foundation in 2013, BetterUp grew rapidly. The company includes a network of more than 2,000 buses and its platform is used by several major companies, including Hilton Worldwide Holdings Inc., Chevron Corp., Salesforce.com and others. In February, BetterUp raised $ 125 million in a Series D financing round that valued the company at $ 1.73 billion.
Prince Harry has been using the app and a BetterUp trainer for a few months, and he said filling out the initial questionnaire was a little strange because his background does not fit into a list of multiple-choice questions. “I know I’m a stranger, so there’s no need to involve the engineers in this!” he joked, adding: “I was cast with my coach who, frankly, is really amazing and has always given me good advice and a new perspective, which is very valuable”.
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BetterUp’s CEO says the duke has already weighed in on the decisions. During a recent strategy meeting on how to position a product, Prince Harry recommended that executives structure the tool in terms of resilience and overcoming adversity and setbacks at a challenging time, said Mr. Robichaux.
Although he does not manage his own team, the prince will find a receptive audience among other BetterUp employees eager to work – and perhaps elbow – with him, Robichaux predicted.
“He will obviously have the entire organization running to help him,” said Robichaux.