Archie Harrison Mountbatten-Windsor is not even a week old and already, the first child of Meghan Markle and Prince Harry is worth more than most people who work their entire lives. In fact, he’s downright loaded, impacting the U.K. economy the moment he came into this world.
John Quelch, dean of University of Miami Business School, told Fox Business that Archie will create opportunities for other businesses by way of merchandising, licensing and potentially a bump in tourism. Remember when Meghan and Prince Harry got married? Reuters predicted that the U.K. would see a major boost in its economy to the tune of around $600 million, thanks to the flocking of tourists who were predicted to be eager to get a closeup of the matrimonial action.
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According to Fox Business, the birth of Prince Louis, the youngest child of Kate and William, reportedly generated $125 million for the British economy alone last April. And while that may seem like a lot, the amount pales in comparison to his older siblings, Prince George and Princess Charlotte, who generated $3.6 billion and $5 billion, respectively.
And Professor Joshua Bamfield, director of the Centre for Retail Research, told Hello! that baby Archie will increase spending in children’s wear and infant products by nearly $1.5 billion over a two-year period, saying, “Meghan and Harry are an attractive couple and their first child will naturally be of great public interest across the world.”
But forget all that. The kid alone is worth a royal bundle. He doesn’t exactly come from a poor family.
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Markle was already worth about $5 million, thanks to her acting career, before she married Harry, who is estimated to have between $25 million and $40 million, according to Money.
And according to Forbes, the royal family is valued at about $88 billion.
If it’s any consolation, Archie may be wealthy, but he’s expensive, too. On average, it costs about $300,000 to raise a child in the U.K., according to 2015 estimates by the Telegraph. As for Archie, if the cost of raising Prince George is any indication, the newborn will cost upwards of a million bucks.