Royal accounts show Prince Charles bankrolled Harry and Meghan despite their claim of being 'cut off'
June 24, 2021, 6:09 am

Royal accounts show Prince Charles bankrolled Harry and Meghan despite their claim of being 'cut off'

Harry and Prince charles

Sputnik reported, citing the Daily Mail, that royal accounts show that Charles, Prince of Wales, continued to bankroll Prince Harry and Meghan Markle, handing over a “substantial sum” for months after they sensationally stepped away from life as working royals. Harry and Meghan

Prince Harry statements during the Oprah Winfrey interview, where he suggested that his family “literally cut me off financially” in the “first quarter” of last year are now called into question.

He had stated in the bombshell Oprah Winfrey interview he sat down for with his wife Meghan Markle that he had been financially cut off from his family in the 'first quarter' of last year after the couple stepped down as working royals, forced to live off money left by his mother, the late Princess Diana.

However, the royal accounts show that until the summer of 2020 the Duke and Duchess of Sussex were still listed as receiving money from Prince Charles's Duchy of Cornwall income, despite quitting the monarchy at the end of March last year.

Clarence House's annual review revealed that the heir apparent to the British throne’s bill for the activities of his sons, the Duke of Sussex and the Duke of Cambridge and their families, plus Prince Charles’ other capital expenditure and transfer to reserves in 2020/2021 stood at £4.4 million. Harry and Meghan

The independently audited accounts show the sum is smaller than from the previous year, when the Sussexes were still working royals. The bill for 2019/2020 was £5.6 million. The yearly fiscal report offered no detailed breakdown of the figures.

Sputnik reported a senior Clarence House spokesman as saying: “As we'll all remember, in January 2020 when the duke and duchess announced that they were going to move away from the working Royal Family, the duke said that they would work towards becoming financially independent. The Prince of Wales allocated a substantial sum to support them with this transition. That funding ceased in the summer of last year. The couple are now financially independent.”

When asked to comment on the apparent inconsistency of the fiscal report with Prince Harry’s recent statements, the spokesperson added: “I wouldn't acknowledge that they are dramatically different. All I can tell you are the facts.”

In the bombshell interview Prince Harry claimed that when the couple moved to North America, they had to live on what his late Mother, Princess Diana of Wales, had left him. “Without that we would not have been able to do this”, said Prince Harry, referring to the sum of around £7 million. Harry and Meghan

“My family literally cut me off financially and I had to afford security for us... in the first quarter of 2020… I think she saw it coming. I certainly felt her present throughout this whole process.”

After stepping away as working royals, the couple emigrated first to Canada and then to California. There they acquired an £11 million family home in Montecito and set up their own film and audio company, as well as their Archewell Foundation, writes the outlet. Prince Harry and Meghan Markle have since struck multi-million-pound deals with Netflix and Spotify. Harry and Meghan

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Source: Sputnik

Image source: AP-Sputnik

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.