Meghan Markle and Prince Harry are facing a challenging time in the world of fashion, as several brands have refused to collaborate with them.
However, behind the scenes, their friends reveal that the couple is much more distressed than they let on.
The mounting bills and shattered dreams of finding success in the United States after leaving the royal family are now causing trouble in their marriage.
During an interview, Harry downplayed the significance of their deals with Spotify and Netflix, stating that they were never part of their original plan.
He hinted that financial difficulties forced him to sign these quick deals, particularly to cover the cost of security.
This revelation left Spotify bosses horrified, questioning why the couple had spent lavishly on a sprawling property in Montecito if they couldn’t afford proper security.
According to a source, the Sussexes are burdened with staggering expenses.
Curiously, it is worth noting that they technically do not own the Montecito mansion.
This raises questions about the nature of their purchase.
Did they secure a commercial or residential mortgage?
In an interview, TW expressed surprise at how the couple could afford such a property when Harry himself claimed in court documents that he lacked the funds to pay for his own security.
The property was purchased by a residential real estate trust located at 8383 Wilshire Boulevard Suite 1000 California 90211, which shares the same address as Fremark Financial.
This arrangement effectively makes the couple tenants, renting rooms within the mansion.
Their office space is touted as being for business use, allowing them to write off related expenses.
Additionally, the entity that purchased the property would be responsible for repairs, renovations, and upkeep, all of which can be deducted as expenses.
However, there are still questions surrounding the purchase.
Was it made under a trust for tax purposes?
If so, would it be classified as a benefit in kind and be subject to taxation?
It is worth recalling Meghan’s admission during the cut interview that they only saw the exterior of the house before deciding to buy it.
This revelation raises concerns about their financial prudence and priorities, as Meghan seemingly placed more importance on the house’s appearance rather than its interior.
The financial strain on the Sussexes is evident.
They are struggling to keep up with basic expenses, let alone the substantial mortgage payments and maintenance costs for a property of this size.
It is estimated that just the upkeep and groundskeeping alone could amount to around $700,000.
With their reported difficulties in maintaining their own personal grooming, necessary maintenance of the property may have been neglected, leading to its deterioration.
Consequently, they might be forced to sell the mansion at a significantly reduced price.
Their financial situation is dire, especially considering they won’t be receiving the full $20 million from Spotify and the expected income from their Netflix deal for three to four shows.
As a result, Meghan and Harry are teetering on the edge of bankruptcy, with their financial woes becoming increasingly apparent.
In a related development, the recent passing of Russian oligarch Sergei Grishin has complicated matters for the Sussexes.
Grishin generously allowed the couple to stay in his luxurious nine-bedroom, 16-bathroom mansion in Montecito last year.
Now, his wife and children are seeking to reclaim ownership of the property and evict the Sussexes.
As Meghan Markle and Prince Harry navigate these turbulent financial waters, their marriage faces mounting pressure.
The couple’s dreams of success in the U.S. have been overshadowed by their massive bills and questionable financial decisions.