Prince Harry and Meghan Markle’s charity has recorded a whopping loss this year, documents show.
The Duke and Duchess of Sussex have raised around £1.96million but spent around £3.8million, showcasing a loss of £1.9 million on Archwell Foundation.
However, a representative of the couple said that losses in charities are ‘expected.’
They said: “The $2.5million in-year difference simply reflects the Foundation drawing on existing reserves to fund impact, rather than stockpiling funds.
“This was an intentional, missing-aligned decision demonstrating Archewell’s commitment to putting dollars to work in the world and maximising social return on past fundraising efforts.
“The Foundation did not lose money – it used previously raised funds for their intended purpose.
“The Archewell Foundation’s approach is to raise funds for specific projects and deploy them as those projects reach key stages of implementation.”
They added: “We are honoured to have worked with incredibly talented and caring people who dedicate themselves to helping others.”
Prince Harry left the Royal Family back in 2020 alongside wife Meghan Markle and son, Prince Archie. The couple later accused the Royal Family of showcasing racism towards their son and publicly shared their grievances on television. Harry and Meghan now live in California, where they also welcomed their daughter, Princess Lilibet.
Prince Harry never intended to leave the Royal Family, says an expert.
The Duke of Sussex, who exited his position as a senior Royal back in 2020, did not want a full exit from hai duties as a Senior Royal.
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