Recent reports suggest that the Duke and Duchess of Sussex are angered by assertions that they are "strapped for cash." The couple's charity, Archewell Foundation, purportedly lost £9 million in pledges and donations over the past year.
According to the charity's 2022 accounts, it received two donations totaling £1.6 million, a significant drop from the previous year's donations of over £10.4 million. After accounting for salaries, expenses, and grants, Archewell reportedly faced a revenue loss of approximately £536,000. However, the foundation still holds more than £6.8 million in funds.
In response to these reports, a representative from Archewell denied claims that the charity is in the red. The representative emphasized that Harry and Meghan, along with Archewell, have substantial funds stashed away.
Royal reporter Kinsey Schofield commented on the situation, stating that the couple didn't appreciate the headlines in the UK regarding Archewell's alleged losses. Schofield added that someone from Archewell informed TMZ that the recent report suggesting financial struggles was misleading, as it failed to consider the nature of the foundation, emphasizing that Archewell is not a corporation.
