Meghan Markle and Prince Harry have shown frustration over recent reports about their charity, Archewell, indicating substantial financial losses.
The Duke and Duchess of Sussex are reportedly displeased with assertions that they are facing financial strain. Reports have surfaced, suggesting that their charity, Archewell Foundation, witnessed a substantial decrease of £9 million in pledges and donations over the past year.
These reports emerged after the couple's charity disclosed its 2022 accounts, revealing a notable decline in donations. While the foundation received £10.4 million in donations the previous year, it received only £1.6 million in two donations this year, marking a drastic reduction of £8.7 million.
After accounting for salaries, expenses, and grants, Archewell recorded an approximate revenue loss of £536,000. Nonetheless, the foundation maintains funds exceeding £6.8 million.
In response to these reports, representatives from Archewell denied claims of financial struggles during an interaction with a media outlet, as reported by GB News.
Royal reporter Kinsey Schofield commented on the situation, expressing the couple's dissatisfaction with the headlines concerning Archewell's supposed losses. Schofield mentioned that sources from Archewell, as relayed by TMZ, clarified that Meghan, Harry, and the charity have substantial reserves. They emphasized that the recent report misrepresents their financial position as it doesn't consider their non-corporate status.
The unfavorable headlines surrounding Archewell's financial situation reportedly irked the Duke and Duchess of Sussex in the United States.
