Meghan Markle and Prince Harry are working to become "financially independent."

In an official statement shared on their website and social media accounts, the Duke and Duchess of Sussex wrote that they intend to "step back" as "senior" members of the royal family , but will continue to support Queen Elizabeth.

Most of the British monarchy's wealth is derived from inherited lands and investments . British taxpayers also support the royal family through a " sovereign grant " issued by the treasury.

That set-up prohibits royal family members from earning professional income, according to their website . By choosing financial independence, Meghan and Harry would no longer receive money through the sovereign grant and would be able to work professionally.

Together, Meghan and Harry are worth $30 million: Meghan's reported net worth is around $5 million from her acting career and Harry's net worth is reportedly at least $25 million, comprised of an inheritance from Princess Diana and an annual allowance from Prince Charles. It's unknown how much of this comes from the crown.

Here's how much money they'd need to maintain their lavish lifestyle, based largely on the millions they've spent in the past year alone.

See the rest of the story at Business Insider

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DON'T MISS: Together, Meghan Markle and Prince Harry are worth about $30 million and none of that money belongs to the crown