Prince Harry and Meghan Markle’s charity has shrunk to just two employees ahead of a much-publicized rebrand, multiple sources tell Page Six as the couple desperately tries to save money.
A source said: “Prince Harry and Duchess Meghan were forced to cut staff because the costs were so high.”
The Duke and Duchess of Sussex announced last week that the Archewell Foundation would become Archewell Philanthropies, claiming that their “move to a ‘charitable’ model marks one that is more flexible, has less administrative burden, and is designed to grow and evolve over time.”
However, Prince Harry and Markle have reportedly spent the past few months having in-depth discussions about the future of the charity, which has struggled to raise funds.
“The big question was whether Archewell would close or another charity would take over,” the source said. “Prince Harry and Duchess Meghan were looking for a financial sponsor, someone who could shoulder their expenses and keep things cheap.
“Really, it’s all smoke and mirrors.”
Page Six has confirmed that three members, representing 60% of the charity’s staff, have been made redundant.
James Holt, who has been the executive director since the couple worked for the royal family in Britain, and Shona Knepp, the charity’s deputy chair, will be the only ones remaining at the rebranded charity.
A spokesperson for Prince Harry and Ms Markle said: “Currently, the same full team remains in place. This move means that some recruitment is inevitable, particularly in junior manager roles.”
Earlier this year, Page Six reported that the couple cut ties with their six personal employees as they focused on saving cash and security costs were said to be around $2 million a year.
And new tax information revealed that funds were being drained from their charities.
Archewell recorded expenses totaling $5.1 million, according to his latest 990 form released Friday.
Salary in 2024 is listed at $913,000, with expenses up 54% from the previous year, jumping from $3.3 million. This could be related to the couple’s quasi-royal trip to Nigeria and Colombia in 2024, as “other expenses” were recorded at $2.9 million. In 2023, the total value of this category was $1 million.
Meanwhile, donations and grants to the organization fell from $5.3 million in 2023 to $2.1 million in 2024.
Insiders are skeptical how Archewell, which provided a $1.25 million grant in 2024, will survive.
“If they’re running out of subsidy money, it’s a net loss and they’re not bringing in as much money,” the official said.
Last week, the Sussexes announced they would produce a film adaptation of Jasmine Guillory’s book The Wedding Date for Netflix, which retains a first-look deal after losing its exclusive deal.
They are producing the project with Tracy Ryerson for Archewell Productions Hub, Deadline reported.
However, a director and cast have not yet been decided for the film adaptation of the hit work “Let’s Meet at the Lakeside.”
They also signed a deal to produce a Girl Scout cookie doc called “Cookie Queen,” which will premiere at Sundance next month. But officials pointed out that they were simply putting their names on the project rather than developing their own.
