Meghan Markle, Prince Harry's newborn son Archie already has impressive estimated worth
FBN's Ashley Webster explains why Prince Harry and Meghan Markle's baby could face a U.S. tax liability when he or she reaches adulthood.
Meghan Markle and Prince Harry's royal son Archie Harrison Mountbatten-Windsor may only be days old, but he's already been dubbed a "very rich" young man.
The baby boy — who is seventh in line to the throne, behind his dad — basically started impacting the U.K. economy the moment he was born on May 6. He's the first child for the popular royal couple and quickly created quite a buzz, as Markle opted to wait two days to officially debut Archie to the world outside of their family's Windsor Castle home.
“It puts England back on the front page; there’s something new and different in England,” John Quelch, dean of University of Miami Business School, told Fox Business earlier this week, noting that the 7-pound newborn would create opportunities for merchandising, licensing and possibly even give local establishments and tourism a bump in business.
The birth of Prince Louis of Cambridge, the third child of Prince William and Kate Middleton, reportedly generated $125 million for the British economy alone last April. And that number is small compared to what his big brother and sister, Prince George and Princess Charlotte, has fostered — $3.6 billion and $5 billion, respectively.
One expert told Hello! that sales in children’s clothing and products will increase by $1.47 billion over a two-year period, thanks to Archie.
Aside from the new royal baby's likely boom to the U.K. — and likely even the U.S. — economy, Archie himself is worth a significant amount.
To better understand what Archie's estimated worth is, you have to first look at his parents, the Duke and Duchess of Sussex's combined bank account and other assets.
"His parents aren’t hurting for cash," Money says.
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Former "Suits" star Markle was worth roughly $5 million before exchanging "I dos" with husband Prince Harry, who is estimated to have between $25 million and $40 million, per the finance publication. Archie's great grandma, Queen Elizabeth II, is worth a whopping $500 million, according to Forbes.
The British monarchy as a whole is worth an impressive $88 billion, Forbes reported, citing a 2017 report from Brand Finance. That number includes the value of their various properties, jewelry and other "concrete assets."
Given his already impressive impact on the economy as well as his family's vast fortune, it's safe to assume Archie is going to be worth quite a bit (even before he gets his inheritance from his famous parents).
Fox Business' Brittany De Lea contributed to this report.