Prince Harry and Meghan’s Montecito Mansion Doubles in Value, Potentially Earning Them Millions

Prince Harry and Meghan Markle have seen a substantial increase in their wealth over the past two years, thanks to the soaring value of their luxurious Montecito mansion in the US.

The couple purchased the stunning 18,671 square foot property for £11.93 million, approximately $14.6 million, back in June 2020.

Fast forward to the present day, and the mansion's value has more than doubled in just 23 months, now standing at an impressive £23,960,720 or $29,350,320 million according to property website Redfin.

The magnificent estate, nestled in Oceanside Montecito, boasts 9 bedrooms and 19 bathrooms, making it a truly lavish abode.

While rival website Zillow estimates the home's value at £21.6 million or $26,485,500, some experts suggest it could potentially fetch as high as £30 million or $36.81 million in today's market.

A notable luxury estate agent highlighted the remarkable surge in property prices over the past year and a half, emphasizing that Harry and Meghan have witnessed their home's value skyrocket without much effort on their part.

The significant spike in the value of their residence, surpassing the average growth in California's bustling real estate market, has sparked speculation that the Duke and Duchess of Sussex might be contemplating selling the property.

Meanwhile, Netflix, a prominent streaming service, recently made headlines for axing projects in California, including Meghan Markle's upcoming venture, “Pearl.”

The company announced the layoff of 150 employees due to declining revenue, following the cancellation of the Duchess of Sussex's project.

Reacting to Netflix's decision, social media users expressed mixed opinions on the matter.

One Twitter user lamented the purported loss of $100 million associated with the Sussexes' deal with the streaming platform, attributing the situation to unforeseen circumstances.

Another user criticized Harry and Meghan, labeling them as “bad luck” for Netflix and urging others to boycott the service.

These developments come on the heels of Netflix reporting a decrease in subscribers for the first time in ten years, losing 200,000 subscribers in the initial quarter of the year.

The staff layoffs, affecting around 2% of Netflix's North American workforce primarily based in California, were attributed to a drop in revenue by the streaming platform.

Netflix emphasized that the cutbacks were driven by business needs rather than individual performance, acknowledging the difficulty of parting ways with valued colleagues.

Notably, Meghan Markle was poised to serve as an executive producer for “Pearl,” a feminist animated series exploring the stories of influential women throughout history.

Royal expert Richard Fitzwilliams weighed in on the situation, highlighting the financial challenges faced by Netflix, leading to the cancellation of Meghan's project.

He underscored the impact of these cutbacks on the Sussexes, questioning the future dynamics of their relationship with the streaming giant.

With Harry's upcoming series “Heart of Invictus” on the horizon, the pressure mounts for the couple to deliver results in light of the substantial deal struck with Netflix.

Amidst the backdrop of Netflix's operational changes and financial constraints, the Sussexes find themselves in a pivotal position to deliver content that meets the platform's evolving demands and expectations.