Prince Harry and Meghan Markle have been dealt a financial setback as a monetary chasm has appeared between the Sussexes and Prince William’s foundation.
A stark fiscal disparity has surfaced between the charitable foundations of Prince William and Prince Harry, with newly published figures revealing a significant difference in their fundraising achievements.
The Earthshot Prize, an environmental initiative led by Prince William, has declared a total income of £23.5 million in its most recent annual report according to reports by GB News.
On the other hand, Prince Harry and Meghan‘s Archewell Foundation garnered just £4.67 million from all sources during the same timeframe.
These numbers underscore the widening financial gap between the two royal brothers’ ventures. The success of Earthshot’s fundraising becomes even more striking when considering its underlying growth, with donations increasing by 68 per cent after accounting for £8.6 million of the £22.5million raised the previous year was from a one-off donation from The Royal Foundation.
A particularly impressive accomplishment comes from The American Friends of The Royal Foundation of The Prince and Princess of Wales, which more than doubled its contribution to £6.1 million from £2.7 million in the prior year.
This single American donation alone surpasses the total amount raised by the Archewell Foundation. The founding partners of The Earthshot Prize contributed £14.4 million to the environmental initiative.
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Meghan Markle and Prince Harry’s Archewell Foundation saw a significant increase in its fundraising efforts in 2023, securing £4.1 million in grants, more than double the £1.5 million raised the previous year, according to a recent report.
Now in its third year, the charitable organisation distributed £1 million to various charitable causes from January to December 2023.
The impressive growth is indicative of increased support for the foundation’s initiatives, including The Parents Network and other community-focused programmes.
The foundation’s total revenue for the year reached £4.5 million, inclusive of investment income, marking a notable achievement since its inception in 2020 following the Sussexes’ step back from their senior royal duties.
A substantial chunk of the foundation’s funding was provided by a single donation of £3.9 million from an individual donor. An additional £260,000 was donated by five separate individuals.
Tax records show that both Harry and Meghan dedicate one hour per week to Archewell’s operations, which is standard practice for directors of U.S. tax-exempt organisations. They do not draw any salary from the foundation, according to the tax documents.
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