Prince Harry and Meghan’s Montecito Mansion Doubles in Value to Nearly $30 Million

Prince Harry and Meghan Markle have reportedly earned a whopping £12 million, nearly $15 million, in the past two years just by staying at their home in the US.

The couple purchased the luxurious 18,671 sqft Montecito mansion for £11.93 million, $14.6 million, in June 2020, and it has now more than doubled in value in just 23 months.

According to property website Redfin, the mansion in Oceanside Montecito, which boasts 9 bedrooms and 19 bathrooms, is currently valued at £23,960,720, $29,350,320, million.

This means that if the Duke and Duchess of Sussex sold their home today, they would make a staggering £12 million, nearly $15 million.

While rival website Zillow values the couple's home at £21.6 million, $26,485,500, it is believed that it could fetch as high as £30 million, $36.81 million.

A luxury estate agent has revealed that property prices have soared in the past 18 months, and show no sign of slowing down.

The agent added that Harry and his wife only had to sit back and watch their home's values skyrocket.

The hike in their home's value, which is soaring way above the average increase in California's superheated housing market, could be contributing to rumours that Harry and Meghan are considering selling it.

However, there has been no official announcement from the couple yet.

Meanwhile, Netflix has announced that it has laid off 150 members of staff due to falling revenue.

This comes after the streaming giant scrapped Meghan Markle's upcoming project, Pearl.

One social media user claimed that the platform threw away $100 million, referring to their multi-million dollar deal with the Sussexes.

Another user claimed that Harry and Meghan are bad luck and Netflix wasted $50 to $100 million.

Netflix's cutbacks come just one month after it said it was losing subscribers for the first time in a decade.

The redundancies, which account for around 2% of its North American workforce, will primarily affect staff in its Californian office.

The streaming platform said the cutbacks were a result of a drop in revenue.

In a statement, it said, “These changes are primarily driven by business needs rather than individual performance, which makes them especially tough as none of us want to say goodbye to such great colleagues.”

The Duchess of Sussex was set to be an executive producer on Pearl, a feminist cartoon about a young girl learning about influential women throughout history.

Royal expert Richard Fitzwilliams said the cutbacks would be a blow to the Sussexes.

Speaking to the Mail Online, he said, “The serious financial situation for Netflix, which has seen its shares plummet and which has announced radical changes to its content, is reflected in the decision to cancel Meghan's animated TV series Pearl.

This will be a blow to the Sussexes and the question obviously is, what do Netflix want from the royal couple now?”

Harry's Heart of Invictus series will be due out soon, but the circa $100 million deal with the company is huge and they will need a return on their investment.

The company that boasted a deal with the Sussexes and the success of The Crown is now being forced to make drastic cutbacks and changes to its output.

It may well pressurise the Sussexes, who have an internationally known brand, to produce more quickly.

In conclusion, Prince Harry and Meghan Markle's Montecito mansion has almost doubled in value to nearly $30 million in just 23 months.

The hike in their home's value, which is soaring way above the average increase in California's superheated housing market, could be contributing to rumours that Harry and Meghan are considering selling it.

Meanwhile, Netflix's cutbacks are a result of falling revenue and the cancellation of Meghan Markle's upcoming project, Pearl.