Jan 18, 2020

Harry and Meghan Markle to repay $3.1 million in taxpayer funds, forego titles

Harry and Markle at the British High Commissioner residency in Oct. 2019. Photo: Michele Spatari/AFP via Getty Images

Prince Harry and Meghan Markle have agreed to repay roughly 2.4 million pounds, or $3.1 million, of taxpayer money spent on Windsor Castle renovations, AP reports.

The big picture: The Duke and Duchess of Sussex will also no longer use "royal highness" titles, or receive any public funds as part of their deal to "step back" as senior royals, per AP.

What they're saying:

"Following many months of conversations and more recent discussions, I am pleased that together we have found a constructive and supportive way forward for my grandson and his family. Harry, Meghan and Archie will always be much loved members of my family.

I recognize the challenges they have experienced as a result of intense scrutiny over the last two years and support their wish for a more independent life.

I want to thank them for all their dedicated work across this country, the Commonwealth and beyond, and am particularly proud of how Meghan has so quickly become one of the family.

It is my whole family's hope that today's agreement allows them to start building a happy and peaceful new life."

— Queen Elizabeth II's statement on Saturday

Go deeper: Prince Harry and Meghan Markle to "step back" as senior royals

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Rebecca Falconer

Prince Harry addresses his and Meghan Markle's royal decision

Prince Harry and Meghan Markle, Duchess of Sussex, in Johannesburg, South Africa, on Oct. 2. Photo: Samir Hussein/WireImage

Prince Harry told a London charity event Sunday he and Meghan Markle, Duchess of Sussex, had "no other option" but to step back from working as senior members of Britain's royal family.

Why it matters: In his first speech since the couple agreed to relinquish their "royal highness" titles in order to split their time between the U.K. and North America, Harry expressed "great sadness" about the move. He alluded to British press harassment in his speech, saying "the media is a powerful force." They hoped to continue to with duties "without public funding," he said. "Unfortunately, that wasn't possible."

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Fadel Allassan

Prince Harry and Meghan Markle make first appearance since royal departure

Prince Harry, Duke of Sussex and Meghan, Duchess of Sussex depart Canada House on Jan. 07, 2020 in London, England. Photo: Chris Jackson/Getty Images

Prince Harry and Meghan Markle made their first public appearance since stepping back from their royal duties at a JPMorgan event in Miami on Thursday, reports the New York Post.

Why it matters: As part of their agreement with Buckingham Palace, Harry and Meghan agreed to forego their royal titles and stop receiving public funds — in line with the couple's announcement that they plan to become "financially independent." The BBC notes that Harry spoke at the event, but it was not confirmed whether he was paid to appear.

Keep ReadingFeb 7, 2020 - World

Dan Primack

Edgewell and Harry's case against the FTC merger block

Illustration: Aïda Amer/Axios

Razor-maker Harry's last May agreed to be acquired for $1.37 billion by Schick parent Edgewell and, for the next six months, there were few concerns at either company.

But, but, but: Shortly before Christmas, everything changed. "[Regulators] started asking different sorts of questions, and you could see where they were heading," says a source familiar with the situation.

Go deeperFeb 4, 2020 - Economy & Business