Prince Harry has likely raked in tens of millions of pounds from Spare, which became the fastest-selling non-fiction ever when it was published.
Robert Lacey questions Prince Harry’s motives behind ‘Spare’
Prince Harry has been made substantially richer thanks to the success of his memoir Spare, claims presenter and fellow bestselling author Richard Osman.
The Duke of Sussex made headlines around the world when his controversial book was revealed in January 2023, as it told the story of his experiences in the Royal Family, which he eventually left with his wife Meghan Markle in 2020.
It may not have been popular with fans of the Firm, but Spare became the fastest-selling non-fiction book ever when it was published by Penguin Random House.
Harry is understood to have received a £16 million ($20 million) advance for his memoir as part of a four-book deal worth £32 million ($40 million) which was signed in June 2021.
Richard Osman, whose hit book series The Thursday Murder Club is about to be made into a film directed by Chris Columbus, has given an estimate on how much Harry may have made from the hardback version.
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Prince Harry laughing in Invictus crowd.
Speaking on his podcast The Rest Is Entertainment, Mr Osman told co-host Marina Hyde back in April: “The book that Harry wrote, it’s impossible to overestimate how much money that has made.
“I mean, it’s been one of the most successful books. The fastest-selling non-fiction book of all time. I’ve done some back-of-the-envelope calculations because I like to.
“I know what you get paid per book. Got a $20 million (£16 million) advance. Thing with an advance is, you get paid in advance, $20 million in that case, you do not make a penny until your publisher makes back their $20 million (£16 million).”
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Harry and Meghan attend WellChild Awards
Harry and Meghan’s life in the Royal Family was certainly eventful. (Image: Getty)
Mr Osman added: “And once they’ve made back their $20 million (£16 million), and there are all sorts of sliding scales about how that works, what they get, what you get, once you’ve made the $20 million (£16 million), then you get your royalties.
“I think – and his book has not come out in paperback yet. So this book is purely hardback. I reckon he’s made $26, $27 million (£20.4, £21.2 million). So he’s earned out an advance of $20 million (£16 million) on the hardback of his first book alone.
“Forget rights to other things and audiobooks and what have you. He has earned that out already. When the paperback comes out, it’s just money rolling into the Sussexes.”
Prince Harry’s book Spare on shelves.
Given that the latest update on how much Spare made came in April, it is likely in the past three months he has made even more money from his book.
A spokeswoman for Penguin Random House also confirmed to MailOnline that there is still no release date for the paperback version of Spare.
There has been speculation that Meghan Markle may shortly pen her memoirs, tracking her life from a starting actress to a TV star in Suits to a royal Duchess.