Prince Harry and Meghan Markle are facing renewed scrutiny after reports emerged that their charitable foundation has laid off a significant number of staff amid mounting financial losses.
According to sources cited by Daily Mail, the Sussexes’ charity — recently rebranded as Archewell Philanthropies — has been struggling to balance its books, with expenses far exceeding donations.
On December 19, the Duke and Duchess of Sussex announced that their foundation would be renamed Archewell Philanthropies, marking the organisation’s fifth anniversary.
Just one day later, Daily Mail reported that three employees had been informed they would be let go as part of an internal “restructuring” under the new name. Among them was Kristen Slevin, the foundation’s Director of Programs and Operations, whose reported annual salary stood at $146,000.
More strikingly, sources claimed that staff were told the charity might be approaching closure — a claim that immediately raised questions about its financial health.
Following the layoffs, the organisation is said to be left with just two staff members: James Holt, a long-time adviser and close friend of Prince Harry, and Shauna Nep, a philanthropy specialist.
Limited involvement from the founders
Harry and Meghan are listed as leaders of the organisation but do not draw salaries. Sources say the couple reportedly dedicate an average of just one hour per week to the foundation’s work.
New financial data obtained by Daily Mail from the U.S. Internal Revenue Service (IRS) paints a troubling picture of Archewell’s finances in 2024.
Costs surge as donations fall
According to the filings:
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Total expenses rose to $5.1 million, up from $3.3 million the previous year
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Total donations fell sharply to $2.1 million, down from $5.73 million
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Only $1.25 million was directed toward charitable grants
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Staff salaries amounted to $913,000
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“Other expenses” surged to $2.9 million, nearly triple the previous year
The result was a net loss of $2.5 million in 2024, compared with a surplus of $2.4 million the year before.
Sources believe the spike in costs may be linked to the Sussexes’ high-profile overseas trips to Nigeria and Colombia, which were widely described as “royal-style” tours.
Assets shrinking
Archewell’s net assets are now reported at $8.2 million, down from $10.7 million the previous year — further fuelling concerns about the charity’s sustainability.