Prince Harry and Meghan Markle have vowed to become 'financially independent' when they step down as senior members of the royal family, but the two shouldn't have much trouble making money.
The couple has an estimated $45 million private fortune to fund their new life, but they have the opportunity to make even more through various projects. If famous political couples like the Obamas and Clintons are any indication, the two can easily procure a fortune through profitable book deals, speaking engagements, and, in Meghan's case, fashion partnerships.
In fact, experts say that the Duke and Duchess of Sussex have the potential to rake in tens of millions of dollars annually, particularly if they choose to follow in Barack and Michelle's very lucrative footsteps with public speaking opportunities, books, and TV deals.
Surprise: Prince Harry and Meghan Markle announced on Wednesday that they are stepping down as senior members of the royal family and will become 'financially independent'
In the money: Experts say Harry and Meghan have the potential to rake in tens of millions of dollars annually, particularly if they follow in the footsteps of the Obamas
'Their earning power — both individually and as a couple — is limitless in all aspects of endorsements,' Ronn Torossian, CEO of New York-based PR firm 5W Public Relations, told DailyMail.com.
'Whether appearances, brand partnerships or more, they could make eight or nine figures annually with endorsement deals.'
Ronn said it 'wouldn't be surprising' if the couple started looking at options to make money in North America, where they will be staying when they're not in the United Kingdom.
'With the level of name recognition both of them have, brands will no doubt be tripping over themselves to offer Meghan and Harry partnerships, endorsement deals, positions as brand ambassadors, and more,' he explained.
'The sky is the limit for the two of them in terms of earning potential in North America.'
A branding and social media expert, who asked to remain anonymous, believes that Harry and Meghan will follow in Barack and Michelle's footsteps by setting up a charitable foundation, producing documentaries for a streaming service, and teaming up with Spotify to create podcasts.
'I think you're looking at a Michelle and Barack situation,' the expert said. 'They will definitely follow the Michelle and Barack model, and it will definitely work for them because people are incredibly thirsty for those royals.'
Harry and Meghan certainly have plenty of A-list friends who are as business savvy as they are famous to help them transition into their new lives — and make plenty of money along the way.
The couple has relationships with both the Obamas and the Clintons, with Harry being particularly close with Barack and Michelle.
Last year, Meghan secretly invited Hillary Clinton to Frogmore Cottage, her Windsor home, to meet her son, Archie.
Oprah Winfrey recently teamed up with Harry to create a mental health docu-series after attending his wedding to Meghan in 2018.
The media mogul can easily set them up with interviews, as can her best friend Gayle King. The CBS News anchor was one of the many famous faces who attended Meghan's New York baby shower last year.
Meanwhile, Meghan's close friend Jessica Mulroney works for Good Morning America as a style consultant.
The opportunities are seemingly endless for the Duke and Duchess of Sussex, who have connections with people from all walks of life.
They also have the resources to hire professionals to help them navigate their careers as they move away from their royal duties.
In September, it was revealed Meghan hired a top crisis PR firm that once represented Harvey Weinstein in a bid to improve her public image.
In a significant break from royal protocol, the former actress brought in the New York-based firm Sunshine Sachs behind the back of Buckingham Palace's own advisers.
Sunshine Sachs is among the U.S.'s most prominent crisis management firms, but it has been accused of employing 'dark arts' tactics to improve the image of its clients.
Goals: Barack and Michelle Obama scored a reported $65 million advance as part of their joint book deal, and it's possible the royals can bring in even more
Deals: Bill Clinton was given a hefty $15 million advance for his 2004 autobiography, My Life, while his wife, Hillary, got an estimated $14 million for her 2014 memoir Hard Choices
If Prince Harry and Meghan choose to write memoirs about their lives, they will likely start a bidding war between publishing houses and procure eight-figure advances.
Fans would love to read about their vastly different childhoods and how their lives became entwined when they were brought together through a mutual friend.
Their love story is one for the ages, and while they have shared bits and pieces about their courtship, people are still clamoring for more information about the highs and lows of their romance.
Success: Michelle's memoir, Becoming, has sold more than 10 million copies
In 2017, the Obamas scored a joint book deal at Penguin Random House worth a reported $65 million — an unprecedented amount for a presidential memoir.
While Barack's upcoming book has yet to be released, Michelle's autobiography, Becoming, sold 1.4 million copies in the first week and went on to become the best-selling book in the U.S. in 2018.
As of March 2019, it sold more than 10 million copies and was on track to become the best-selling memoir of all time.
Prior to Barack and Michelle's record-breaking deal, Bill Clinton was given a hefty $15 million advance for his 2004 autobiography, My Life.
He has written four books since leaving the White House in 2001. Most recently, he published his first best-selling novel, The President is Missing, which he co-wrote with superstar author James Patterson.
His wife, former Secretary of State Hillary Clinton, has written numerous books as well. She earned a reported $8 million dollar advance for her 2003 memoir, Living History, and a believed $14 million for her 2014 follow-up, Hard Choices.
If Harry and Meghan aren't willing to get personal, there are other options.
Hillary and her daughter Chelsea recently co-wrote and published The Book of Gutsy Women: Favorite Stories of Courage and Resilience, which features portraits of female role models who inspire them.
Now that they're parents, the Duke and Duchess of Sussex may want to follow in Chelsea's footsteps and write children's books focusing on topics they're passionate about.