Are you curious about how Harry and Meghan make money after stepping down from their royal duties? At money-central.com, we’ll delve into their diverse income streams, from media deals to entrepreneurial ventures, providing a clear picture of their financial independence. Discover the financial strategies of the Duke and Duchess of Sussex, exploring their revenue streams and wealth management practices, ultimately giving you insights into celebrity finance, royal finances, and business ventures.
1. What Are the Primary Sources of Income for Harry and Meghan?
Harry and Meghan generate income primarily through media deals, entrepreneurial ventures, and investments. Their departure from royal duties in 2020 marked a significant shift towards financial independence.
Media Deals
Harry and Meghan’s media company, Archewell Productions, has a multi-year deal with Netflix to produce documentaries, feature films, scripted shows, and children’s programming. They also have a partnership with Spotify through Archewell Audio to create podcasts and other audio content.
For example, their Netflix docuseries “Harry & Meghan” became a global hit, providing an inside look into their personal lives and their decision to step down as senior royals. According to a Forbes report in July 2024, the Netflix deal alone is estimated to be worth around $100 million.
Meghan Markle in a bright and spacious kitchen, With Love, Meghan promotional photo
Entrepreneurial Ventures
Meghan has launched a lifestyle brand called American Riviera Orchard, which is expected to sell food products, home goods, and lifestyle items. The brand reflects Meghan’s personal style and interests, drawing inspiration from her life in Santa Barbara, California.
Their website, Sussex.com, serves as a hub for their various activities and ventures. According to a Wall Street Journal analysis in August 2024, experts predict that American Riviera Orchard could generate millions in revenue through product sales and endorsements.
Investments
Harry and Meghan have also made strategic investments in various companies and projects. While specific details of their investment portfolio are not publicly available, it’s likely that they have diversified their assets to ensure long-term financial security.
Additional Revenue Streams
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Book Deals: Harry’s memoir, “Spare,” became a bestseller, generating substantial income from sales and royalties. Meghan also wrote a children’s book called “The Bench,” which added to their revenue.
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Speaking Engagements: Both Harry and Meghan participate in paid speaking engagements, sharing their perspectives on various topics, including mental health, social issues, and personal growth.
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Inheritance: Harry inherited a significant portion of his mother, Princess Diana’s, estate, which has contributed to his overall wealth.
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Acting: Prior to her marriage, Meghan earned a considerable income as an actress, most notably for her role in the TV series “Suits”.
By diversifying their income streams and leveraging their personal brand, Harry and Meghan have created a solid foundation for their financial future. For more detailed insights and financial advice, visit money-central.com.
2. How Did Stepping Down as Senior Royals Impact Harry and Meghan’s Income?
Stepping down as senior royals significantly impacted Harry and Meghan’s income by ending their reliance on public funds and enabling them to pursue commercial ventures. This transition gave them the freedom to earn income through various channels, but also placed the responsibility of financial self-sufficiency on their shoulders.
Loss of Public Funding
As senior royals, Harry and Meghan received a substantial portion of their income from the Sovereign Grant, which is taxpayer-funded. According to a report by the BBC in 2020, this grant accounted for 5% of their annual income, with the remaining 95% coming from Harry’s father, then Prince of Wales. When they stepped down, they relinquished their claim to this public funding.
Freedom to Pursue Commercial Ventures
One of the primary reasons Harry and Meghan stepped down as senior royals was to gain financial independence and pursue commercial opportunities. They were previously restricted from engaging in business activities that could be seen as exploiting their royal status.
This new freedom allowed them to sign lucrative deals with companies like Netflix and Spotify, launch their own brands, and pursue other income-generating ventures.
Increased Financial Responsibility
With the loss of public funding and the freedom to pursue commercial ventures came increased financial responsibility. Harry and Meghan had to manage their own finances, pay for their security, and cover all their living expenses.
According to a financial analysis by Forbes in 2023, the couple’s annual expenses, including security costs, could run into the millions of dollars. This placed added pressure on them to generate sufficient income to maintain their lifestyle and support their charitable activities.
Impact on Brand Value
Stepping down as senior royals had a mixed impact on Harry and Meghan’s brand value. On one hand, they lost some of the prestige and recognition associated with their royal status. On the other hand, they gained a new level of authenticity and relatability, which resonated with many people around the world.
Their willingness to speak out on social issues and share their personal stories made them more appealing to certain audiences and brands. This has helped them to secure lucrative partnerships and endorsements.
Financial Independence
Overall, stepping down as senior royals has enabled Harry and Meghan to achieve financial independence and chart their own course. While the transition has not been without its challenges, they have successfully built a diversified portfolio of income streams and established themselves as influential figures in the media and business worlds.
Explore more about financial planning and investment strategies on money-central.com.
3. What Are Some of Harry and Meghan’s Most Notable Business Ventures?
Harry and Meghan’s most notable business ventures include Archewell Productions, Archewell Audio, Sussex.com, and Meghan’s lifestyle brand, American Riviera Orchard. These ventures reflect their diverse interests and their commitment to creating meaningful content and products.
Archewell Productions
Archewell Productions is Harry and Meghan’s media company, which has a multi-year deal with Netflix to produce a range of content. This includes documentaries, feature films, scripted shows, and children’s programming.
One of their most successful projects to date is the docuseries “Harry & Meghan,” which became a global phenomenon and provided an intimate look into their lives. According to Netflix viewership data, the series was watched by millions of people around the world and generated significant buzz on social media.
Archewell Productions is also working on other projects that align with Harry and Meghan’s values, such as documentaries that highlight social and environmental issues.
Archewell Audio
Archewell Audio is Harry and Meghan’s audio production company, which has a partnership with Spotify to create podcasts and other audio content. Their first podcast series, Archetypes, featured Meghan in conversation with other well-known women, exploring topics such as gender equality, identity, and overcoming stereotypes.
The podcast was a commercial success and topped the Spotify charts in several countries. In 2024, Archewell Audio ended its exclusive deal with Spotify. It has since partnered with Lemonada Media to create Confessions of a Female Founder.
Sussex.com
Sussex.com serves as the official website for Harry and Meghan’s various activities and ventures. The website provides information about their charitable work, their media projects, and their other business endeavors.
It also serves as a platform for them to communicate directly with their audience and share their perspectives on various issues.
American Riviera Orchard
American Riviera Orchard is Meghan’s lifestyle brand, which is inspired by her life in Santa Barbara, California. The brand is expected to sell a range of products, including food items, home goods, and lifestyle accessories.
Meghan has been teasing the launch of the brand on social media, sharing images of branded jam jars and other products. According to trademark filings, the brand may also offer cookbooks, tableware, and gardening tools.
Impact and Potential
These business ventures have the potential to generate significant income for Harry and Meghan and to amplify their influence in the media and business worlds. By aligning their ventures with their values and leveraging their personal brand, they have created a strong foundation for long-term success.
Stay informed about the latest financial trends and business opportunities at money-central.com.
4. How Much Did Harry’s Memoir “Spare” Contribute to His Income?
Harry’s memoir, “Spare,” significantly contributed to his income, generating millions of dollars in sales and royalties. The book became a bestseller and garnered worldwide attention, further enhancing his financial standing.
Sales Figures
“Spare” was published in January 2023 and quickly became one of the fastest-selling memoirs of all time. According to the publisher, Penguin Random House, the book sold more than 3.2 million copies in its first week across all formats (hardcover, e-book, and audiobook).
In the United Kingdom, “Spare” sold 467,183 copies in its first week, making it the fastest-selling non-fiction book since records began. The book was translated into 16 languages and sold in more than 50 countries.
Royalties
As the author of “Spare,” Harry received a substantial royalty payment for each copy sold. The exact royalty rate is not publicly known, but it is estimated to be between 10% and 15% of the book’s retail price.
Based on these estimates, Harry could have earned millions of dollars in royalties from the sales of “Spare.” According to financial analysts, the total royalty income from the book could be in the range of $20 million to $30 million.
Charitable Donations
Harry pledged to donate a portion of the proceeds from “Spare” to charitable organizations. He announced that he would donate $1.5 million to Sentebale, a charity he co-founded to support children and young people affected by HIV in Lesotho and Botswana.
He also pledged to donate £300,000 to WellChild, a UK-based charity that provides support to seriously ill children and their families. These donations demonstrate Harry’s commitment to using his wealth to make a positive impact on the world.
Impact on Brand Value
The success of “Spare” has also enhanced Harry’s brand value and increased his earning potential. The book has made him an even more sought-after speaker, commentator, and influencer.
It has also opened up new opportunities for him to collaborate with other brands and organizations. The book’s success has solidified Harry’s position as a global icon and a powerful voice for change.
Financial Security
Overall, the income generated from “Spare” has significantly contributed to Harry’s financial security and has enabled him to pursue his various ventures and philanthropic activities with greater confidence.
Learn more about managing your finances and building wealth at money-central.com.
5. What Role Does Meghan’s Previous Acting Career Play in Her Financial Portfolio?
Meghan’s previous acting career, particularly her role in the TV series “Suits,” plays a significant role in her financial portfolio, contributing both to her past earnings and her current brand value.
Earnings from “Suits”
Meghan Markle starred as Rachel Zane in the legal drama “Suits” from 2011 to 2018. According to reports, she was paid approximately $50,000 per episode for her role in the series.
Over the course of seven seasons, Meghan appeared in more than 100 episodes of “Suits.” This means that she earned millions of dollars from her acting career.
Residual Income
In addition to her per-episode salary, Meghan also earns residual income from reruns and streaming of “Suits.” Residuals are payments made to actors, writers, and other creative professionals when their work is re-used.
As “Suits” continues to be popular on streaming platforms like Netflix, Meghan likely receives a steady stream of residual income from the series.
Brand Value
Meghan’s role in “Suits” helped to establish her as a well-known actress and a recognizable face in the entertainment industry. This has contributed to her overall brand value and has made her more appealing to companies and organizations seeking partnerships and endorsements.
Her acting career also gave her valuable skills and experience in areas such as public speaking, media relations, and brand management. These skills have proven to be valuable assets in her current ventures.
Financial Independence
Meghan’s earnings from her acting career have contributed to her financial independence and have given her the freedom to pursue her passions and interests. Her financial success has also made her a role model for other women seeking to achieve financial independence.
Current Ventures
Meghan’s acting background has also influenced her current ventures. Her experience in the entertainment industry has given her a unique perspective on media production and content creation. This has helped her to make informed decisions about the projects she chooses to pursue through Archewell Productions.
Long-Term Impact
Overall, Meghan’s previous acting career has played a significant role in her financial portfolio, contributing both to her past earnings and her current brand value. Her success as an actress has paved the way for her current ventures and has helped her to achieve financial independence.
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6. How Do Harry and Meghan Manage Their Wealth and Investments?
Harry and Meghan manage their wealth and investments through a combination of professional advisors, strategic planning, and diversified investments. Their approach focuses on long-term financial security and aligns with their values and goals.
Professional Advisors
Harry and Meghan likely rely on a team of professional advisors to help them manage their wealth and investments. This team may include financial advisors, investment managers, accountants, and lawyers.
These advisors provide expert guidance on areas such as asset allocation, tax planning, and estate planning. They also help Harry and Meghan to make informed decisions about their investments and to ensure that their finances are managed in a responsible and ethical manner.
Strategic Planning
Harry and Meghan likely have a long-term financial plan that outlines their goals and objectives. This plan may include goals such as building a diversified investment portfolio, generating passive income, and supporting their charitable activities.
The plan also likely includes strategies for managing risk, minimizing taxes, and protecting their assets. By having a clear financial plan in place, Harry and Meghan can make informed decisions about their finances and stay on track to achieve their goals.
Diversified Investments
Harry and Meghan likely have a diversified investment portfolio that includes a mix of asset classes, such as stocks, bonds, real estate, and private equity. Diversification helps to reduce risk and to increase the potential for long-term growth.
They may also invest in alternative assets, such as art, collectibles, and cryptocurrencies. However, it is important to note that alternative assets can be more volatile and may not be suitable for all investors.
Ethical Investing
Harry and Meghan are known for their commitment to social and environmental issues. It is likely that they incorporate ethical considerations into their investment decisions.
This may involve investing in companies that have strong environmental, social, and governance (ESG) practices. It may also involve avoiding investments in companies that are involved in activities that they consider to be harmful, such as tobacco, weapons, or fossil fuels.
Transparency and Accountability
Harry and Meghan are likely committed to transparency and accountability in their financial dealings. This may involve disclosing their financial information to the public and being open about their sources of income and their charitable donations.
By being transparent and accountable, they can build trust with their audience and demonstrate their commitment to ethical and responsible financial management.
Long-Term Perspective
Harry and Meghan likely take a long-term perspective on their wealth management and investment decisions. They understand that building wealth takes time and that there will be ups and downs along the way.
By staying focused on their long-term goals and avoiding short-term market fluctuations, they can increase their chances of achieving financial success.
Explore more about wealth management and investment strategies at money-central.com.
7. What Tax Implications Do Harry and Meghan Face Living in the US?
Harry and Meghan, as residents of the United States, face various tax implications under US law, including federal and state income taxes, as well as potential taxes on their worldwide income.
US Residency
As residents of the United States, Harry and Meghan are subject to US federal income tax on their worldwide income, regardless of where it is earned. This includes income from their business ventures, investments, and other sources.
They are also subject to state income tax in California, where they reside. California has one of the highest state income tax rates in the country, so this can have a significant impact on their overall tax liability.
Federal Income Tax
US federal income tax is progressive, meaning that the tax rate increases as income increases. The top federal income tax rate is currently 37%, which applies to individuals with taxable income over a certain threshold.
Harry and Meghan’s income likely falls into the top tax bracket, so they are subject to the highest federal income tax rate.
State Income Tax
California state income tax is also progressive, with rates ranging from 1% to 12.3%. In addition, California has a 1% mental health services tax that applies to individuals with taxable income over $1 million.
Harry and Meghan’s income likely falls into the top state tax bracket, so they are subject to the highest state income tax rate, as well as the mental health services tax.
Foreign Tax Credits
Because Harry and Meghan may earn income from sources outside the United States, they may be able to claim foreign tax credits to offset their US tax liability. Foreign tax credits are designed to prevent double taxation of income earned in foreign countries.
However, there are limits on the amount of foreign tax credits that can be claimed, so it is important to consult with a tax advisor to ensure that they are taking full advantage of this tax benefit.
Tax Planning
Given the complexity of US tax law, it is essential for Harry and Meghan to engage in careful tax planning to minimize their tax liability. This may involve strategies such as:
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Contributing to tax-deferred retirement accounts, such as 401(k)s or IRAs.
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Investing in tax-advantaged investments, such as municipal bonds.
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Donating to charitable organizations to reduce their taxable income.
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Taking advantage of all available deductions and credits.
Compliance
It is also important for Harry and Meghan to comply with all US tax laws and regulations. This includes filing accurate tax returns on time and paying all taxes due. Failure to comply with US tax laws can result in penalties and interest charges.
Professional Advice
Given the complexities of their financial situation, Harry and Meghan should seek professional tax advice from qualified tax advisors who are familiar with US tax law and international tax issues.
A qualified tax advisor can help them to navigate the US tax system and to minimize their tax liability while complying with all applicable laws and regulations.
Stay informed about tax planning and financial regulations at money-central.com.
8. What Are Some of the Challenges Harry and Meghan Face in Maintaining Financial Independence?
Harry and Meghan face several challenges in maintaining financial independence, including high security costs, managing public perception, and navigating the complexities of the entertainment industry.
High Security Costs
One of the biggest challenges Harry and Meghan face is the high cost of security. As former members of the British royal family, they are still considered to be high-profile figures and potential targets for security threats.
According to reports, their security costs run into the millions of dollars per year. This includes the cost of hiring private security guards, installing security systems, and taking other measures to protect their safety.
Managing Public Perception
Harry and Meghan also face the challenge of managing public perception. As public figures, they are constantly scrutinized by the media and the public.
Any misstep or controversy can damage their reputation and impact their earning potential. They need to be careful about the projects they choose to pursue and the messages they send to the world.
Entertainment Industry Complexities
The entertainment industry is notoriously competitive and unpredictable. Harry and Meghan face the challenge of navigating the complexities of this industry and building a successful media empire.
They need to produce high-quality content that resonates with audiences and generates revenue. They also need to manage their relationships with studios, distributors, and other industry players.
Maintaining Relevance
Another challenge Harry and Meghan face is maintaining relevance in a rapidly changing media landscape. The entertainment industry is constantly evolving, and new platforms and technologies are emerging all the time.
They need to stay ahead of the curve and adapt their strategies to remain relevant and competitive. This may involve experimenting with new formats, engaging with audiences on social media, and collaborating with other creators.
Balancing Privacy and Publicity
Harry and Meghan also face the challenge of balancing their desire for privacy with the need to promote their projects and maintain their public profile. They need to find a way to share their stories and connect with their audience without compromising their personal lives.
This requires careful planning and communication, as well as a willingness to set boundaries and protect their privacy.
Maintaining Financial Discipline
Finally, Harry and Meghan face the challenge of maintaining financial discipline and managing their wealth responsibly. As high-income earners, they need to be careful about their spending habits and to invest wisely for the future.
They need to work with financial advisors to develop a long-term financial plan and to stay on track to achieve their goals.
Overcoming Challenges
Despite these challenges, Harry and Meghan have demonstrated their resilience and determination to succeed. By remaining focused on their goals, staying true to their values, and working with a team of talented professionals, they can overcome these challenges and build a lasting legacy.
For more financial guidance and support, visit money-central.com.
9. How Do Harry and Meghan’s Charitable Activities Fit Into Their Financial Strategy?
Harry and Meghan’s charitable activities are an integral part of their financial strategy, enhancing their brand image, aligning with their values, and potentially offering tax benefits.
Enhancing Brand Image
Harry and Meghan’s charitable activities help to enhance their brand image and to create a positive public perception. By supporting causes that are important to them, they demonstrate their commitment to making a difference in the world.
This can help to attract new audiences, build trust with their existing audience, and increase their earning potential. Companies and organizations may be more likely to partner with them if they are seen as ethical and socially responsible.
Aligning with Values
Harry and Meghan’s charitable activities align with their personal values and their commitment to social justice and environmental protection. They have spoken out on issues such as mental health, gender equality, and climate change.
By supporting organizations that are working to address these issues, they can use their platform and their resources to make a positive impact on the world.
Tax Benefits
In the United States, charitable donations are tax-deductible. This means that Harry and Meghan can reduce their taxable income by donating to qualified charitable organizations.
The amount of the deduction is limited to a certain percentage of their adjusted gross income, but it can still be a significant tax benefit.
Strategic Giving
Harry and Meghan likely engage in strategic giving, which involves carefully selecting the organizations they support and aligning their donations with their overall goals and objectives.
They may focus on supporting organizations that are working to address the root causes of social problems, rather than simply providing short-term relief. They may also focus on supporting organizations that are aligned with their brand and their values.
Transparency and Accountability
Harry and Meghan are likely committed to transparency and accountability in their charitable giving. This may involve disclosing the organizations they support and the amount of money they donate.
It may also involve providing regular updates on the impact of their donations. By being transparent and accountable, they can build trust with their audience and demonstrate their commitment to making a difference.
Archewell Foundation
Harry and Meghan founded the Archewell Foundation, which is a non-profit organization that supports a range of charitable activities. The foundation focuses on issues such as mental health, racial justice, and online safety.
Through the Archewell Foundation, Harry and Meghan can direct their charitable giving and ensure that their donations are used effectively.
Overall Impact
Overall, Harry and Meghan’s charitable activities are an integral part of their financial strategy, enhancing their brand image, aligning with their values, and potentially offering tax benefits. By engaging in strategic giving and supporting causes that are important to them, they can use their wealth and their influence to make a positive impact on the world.
Learn how to incorporate charitable giving into your financial plan at money-central.com.
10. What Financial Lessons Can Be Learned from Harry and Meghan’s Journey to Financial Independence?
There are several financial lessons that can be learned from Harry and Meghan’s journey to financial independence, including the importance of diversifying income streams, building a strong brand, and aligning financial decisions with personal values.
Diversify Income Streams
One of the most important financial lessons that can be learned from Harry and Meghan is the importance of diversifying income streams. They have multiple sources of income, including media deals, entrepreneurial ventures, investments, and charitable activities.
By diversifying their income streams, they reduce their reliance on any single source of income and increase their financial security. This is a valuable lesson for anyone seeking to achieve financial independence.
Build a Strong Brand
Another important lesson is the importance of building a strong brand. Harry and Meghan have cultivated a unique and recognizable brand that is associated with values such as authenticity, social justice, and environmental protection.
This strong brand has helped them to attract new audiences, build trust with their existing audience, and increase their earning potential. Building a strong brand is essential for anyone seeking to succeed in today’s competitive marketplace.
Align Financial Decisions with Personal Values
Harry and Meghan have aligned their financial decisions with their personal values. They have supported causes that are important to them, such as mental health, gender equality, and climate change.
By aligning their financial decisions with their personal values, they have created a sense of purpose and meaning in their work. This is a valuable lesson for anyone seeking to achieve financial fulfillment.
Seek Professional Advice
Harry and Meghan likely rely on a team of professional advisors to help them manage their wealth and investments. This team may include financial advisors, investment managers, accountants, and lawyers.
Seeking professional advice is essential for anyone seeking to manage their finances effectively. A qualified advisor can help you to develop a financial plan, make informed investment decisions, and minimize your tax liability.
Plan for the Future
Harry and Meghan have a long-term financial plan that outlines their goals and objectives. This plan may include goals such as building a diversified investment portfolio, generating passive income, and supporting their charitable activities.
Planning for the future is essential for anyone seeking to achieve financial security. A financial plan can help you to stay on track to achieve your goals and to protect your assets.
Be Prepared for Challenges
Harry and Meghan have faced several challenges in their journey to financial independence, including high security costs, managing public perception, and navigating the complexities of the entertainment industry.
Being prepared for challenges is essential for anyone seeking to achieve financial success. There will be ups and downs along the way, but by staying focused on your goals and remaining resilient, you can overcome any obstacle.
Stay Informed
Finally, it is important to stay informed about financial matters. The financial landscape is constantly changing, and it is essential to stay up-to-date on the latest trends and developments.
By staying informed, you can make better financial decisions and increase your chances of success. Visit money-central.com for the latest financial news, tips, and advice.
By following these lessons, anyone can improve their financial situation and work towards achieving financial independence.
FAQ: Harry and Meghan’s Finances
Here are some frequently asked questions about how Harry and Meghan make and manage their money.
1. How did Harry and Meghan become financially independent?
Harry and Meghan achieved financial independence by stepping down as senior royals and pursuing commercial ventures, including media deals with Netflix and Spotify, entrepreneurial projects like American Riviera Orchard, and book deals.
2. What is Archewell Productions, and how does it generate income?
Archewell Productions is Harry and Meghan’s media company that creates content for Netflix, including documentaries, films, and series. It generates income through licensing fees and royalties from Netflix.
3. How much did Harry earn from his memoir, “Spare”?
Harry’s memoir, “Spare,” generated millions in sales, with estimated royalties ranging from $20 million to $30 million.
4. What role does Meghan’s acting career play in her financial portfolio?
Meghan’s acting career, particularly her role in “Suits,” contributed to her past earnings and current brand value, providing residual income and enhancing her appeal to companies.
5. How do Harry and Meghan manage their wealth and investments?
Harry and Meghan manage their wealth through professional advisors, strategic planning, diversified investments, and ethical considerations, focusing on long-term financial security.
6. What tax implications do Harry and Meghan face as US residents?
As US residents, Harry and Meghan face federal and state income taxes on their worldwide income, requiring careful tax planning to minimize their liability.
7. What are some challenges they face in maintaining financial independence?
Maintaining financial independence poses challenges such as high security costs, managing public perception, navigating the entertainment industry, and maintaining financial discipline.
8. How do their charitable activities fit into their financial strategy?
Their charitable activities enhance their brand image, align with their values, and potentially offer tax benefits, making them an integral part of their financial strategy.
9. What is American Riviera Orchard, and how is it expected to generate revenue?
American Riviera Orchard is Meghan’s lifestyle brand inspired by her life in Santa Barbara, California, expected to generate revenue through sales of food items, home goods, lifestyle accessories, and related products.
10. What financial lessons can be learned from their journey to financial independence?
Lessons include diversifying income streams, building a strong brand, aligning financial decisions with values, seeking professional advice, and planning for the future.
We hope this article has provided valuable insights into how Harry and Meghan make money. For more information on personal finance, wealth management, and investment strategies, visit money-central.com today! Our comprehensive resources can help you achieve your financial goals.
Disclaimer: The information provided in this article is for general informational purposes only and does not constitute financial advice. It is essential to consult with a qualified financial advisor before making any financial decisions.
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