Archewell Foundation faces financial and legal challenges
The Archewell foundation, created by Prince Harry and Meghan Markle, is in a complicated situation. By the end of 2023, donations to the foundation were reported to have decreased significantly, dropping from 12 million to just two. Additionally, the foundation is now facing legal issues, as California Attorney General Rob Bonta has issued a notice stating that the foundation is in debt and has registered as delinquent. This has led to it being forced to cease its activities until the problem is resolved.
Failure to submit reports and pay fees
On May 3, California Attorney General Rob Bonta officially reported that Archewell had failed to file required annual reports or pay renewal fees. This omission has placed the foundation in a precarious position, preventing it from soliciting or disbursing charitable funds and potentially carrying out additional sanctions, including suspension or revocation of its registration.
Meghan Markle’s personal financial challenges
In addition to the foundation’s financial and legal problems, Meghan Markle’s personal expenses also cause concern. According to close sources, Meghan spends around 10,000 euros per month on maintaining her image. This includes investments in designer clothing, aesthetic treatments, hairdressing, manicure and skin care products from luxury brands. These exorbitant expenses are affecting the finances of the marriage, especially considering the cancellation of several professional projects that reduced her financial capacity.
The future of Archewell and the Duke and Duchess of Sussex
The Archewell Foundation, created in 2019 with the aim of having a positive impact on various charitable causes, is now facing a crossroads. Resolving financial and legal issues is crucial to your survival and to restoring confidence in your philanthropic work. Harry and Meghan remain committed to their charitable initiatives, but finding a balance between their ambitions and financial challenges will be critical to ensuring the sustainability of their foundation.
In conclusion, the Archewell foundation, created by Prince Harry and Meghan Markle, faces financial and legal challenges that threaten its viability. Failure to submit reports and pay fees has led to the foundation being considered delinquent, preventing it from soliciting or disbursing charitable funds. In addition, Meghan Markle’s high personal expenses have affected the finances of the marriage and further complicated the financial situation of the couple and their foundation. Resolving these issues will be crucial to Archewell’s future and to restoring confidence in its philanthropic work.