Speculations about the financial status of Prince Harry and Meghan Markle are escalating after reports revealed a sharp cutback in the staff of their charity "Archewell," which has raised fears that the couple is facing increasing financial pressures that could lead them towards the specter of bankruptcy.
According to Page Six, only two employees remain at the foundation after letting go of three others, which is about 60% of the workforce, in a clear effort to reduce expenses before renaming it to "Archewell Philanthropies."
Informed sources confirmed that the decision came after months of discussions about the future of the foundation amid rising operational costs and dwindling financial resources. The couple considered tough options including closing the foundation or handing its management over to another charity to cover its expenses.
In an attempt to quell the controversy, a spokesperson for the Duke and Duchess of Sussex stated that "the core team is still in place," adding that the restructuring included only the dismissal of some entry-level administrative positions, but this has not dispelled concerns about the financial situation.
The figures reinforce these concerns, as data showed that "Archewell" incurred expenses of 5.1 million dollars in 2024, including 913 thousand dollars in salaries, with expenses rising by 54% compared with the previous year, while donations and grants dropped from 5.3 million dollars in 2023 to 2.1 million dollars in 2024, raising questions about the foundation’s ability to continue without losses.
Meanwhile, the couple continues their production activities through "Archewell Productions" with projects involving Netflix and documentaries, but observers think that these steps might not be sufficient to offset the financial downturn, making the question of bankruptcy strongly relevant in the upcoming period.
