Why Meghan Markle’s and Prince Harry’s Ethical Investing Is Risky.
In a move that a reputation expert told The Washington Newsday could risk over-monetizing their brand, Prince Harry and Meghan Markle went out into finance this week, becoming “impact partners” with an ethical investing firm.
The Duke and Duchess of Sussex made an investment in Ethic early this year and have now joined the firm, which aims to channel resources into sustainable development.
The move is in line with the couple’s focus on the moral goals of their younger target audience, and it’s one of more than ten ventures they’ve established since their royal duties ended.
The Washington Newsday quoted Eric Schiffer, head of Reputation Management Consultants, as saying: “This is another another brilliant approach for them to expand their brand in ways that appeal to Gen Z and younger Millennials.
“However, it’s problematic in many respects because it’s bordering on a department store mindset, where they’re searching for every potential extension of how they can apply and monetize.
“It’s important not to overmonetize anything, and they’re treading carefully.
“I don’t think it’s getting rich that’s the problem; it’s becoming known as a brand that takes advantage of every opportunity to profit rather than doing good for the sake of doing good.
“Compare that to the royal family, who is behaving benevolently in certain areas despite the lack of a financial motivation.”
Keeping BusyHarry and Meghan both worked for HWA, a public speaking firm, before earning multibillion-dollar Netflix and Spotify deals.
The duchess has also written a children’s book, while the duke is working on his memoir, which is set to be published in 2022. They have also partnered with Global Citizen to promote vaccine equity through their charity organization Archewell.
Harry was named Chief Impact Officer of Better Up, a career coaching app, and the couple also partnered with Procter & Gamble, a major consumer goods company.
Meghan’s book, The Bench, is the main fruit of their rapid expansion, since their first two Netflix projects are still in production and their Archewell Audio Spotify podcast has so far resulted in a single seasonal special in December 2020.
Many of their activities, on the other hand, are aligned with the couple’s larger societal goals.
Heart of Invictus, Harry’s first Netflix project, follows athletes in the Invictus Games tournament. This is a condensed version of the information.