JPMorgan Chase CEO Jamie Dimon has reportedly moved to seize the Montecito mansion of Prince Harry and Meghan Markle after a U.S. federal court ruled against the royal couple in a $23 million unpaid debt dispute.
According to court documents leaked late Monday evening, the Sussexes defaulted on a high-interest private loan facilitated by JPMorgan’s elite wealth division in early 2021. The loan, reportedly used to fund property renovations, staff salaries, and production costs for their now-defunct media ventures, ballooned after missed payments and contractual breaches.
The court’s ruling, handed down last week, gave JPMorgan the legal right to begin foreclosure proceedings. By Friday morning, sources close to the matter confirmed that Dimon himself had signed off on the asset seizure, a rare move for a CEO of his stature, but one that signals the gravity of the situation.
Lavish Lifestyle, Limited Liquidity?
The Montecito estate, purchased by Harry and Meghan for an estimated $14.7 million in 2020, had become the centerpiece of their post-royal brand. However, insiders suggest that the couple’s various media deals — including those with Netflix, Spotify, and Penguin Random House — failed to deliver long-term financial stability.
“They were banking on their brand,” said a former advisor. “But Hollywood is unforgiving, and the couple over-leveraged their assets to maintain a lifestyle that quickly outpaced their income.”
In addition to the unpaid principal, the couple reportedly racked up over $4 million in penalties, legal fees, and interest, pushing the total owed to just over $23 million.
Jamie Dimon’s Direct Involvement Raises Eyebrows
While Dimon is not typically involved in individual account disputes, sources suggest that this case had become an internal flashpoint for JPMorgan. The bank had reportedly faced criticism for “celebrity-driven risk” — lending based on fame rather than traditional creditworthiness.
“Jamie Dimon’s move to personally authorize the asset seizure was symbolic,” said a financial analyst. “It was a message that no one — not even royals — is above accountability.”