The headlines of Fox Business Flash are here. See what clicks on FoxBusiness.com.
Prince Harry, no longer a working member of the royal family, has a new job: executive at a Silicon Valley business.
The Duke of Sussex will become the chief impact officer of BetterUp Inc., the fast-growing coaching and mental health firm, which the company will announce on Tuesday.
The role is the latest venture for the Duke, who along with his wife, Meghan Markle, have given up their roles as full-time working members of the British monarchy and exploited their fame over the past few months with a range of lucrative deals.
“I intend to make an impact on people’s lives,” Prince Harry said in an email when asked why he accepted the job. “Proactive coaching offers endless possibilities for personal development, increased awareness and a better life.”
MEGHAN MARKLE, PRINCE HARRY: HOW MUCH DOES SECURITY COST?
In the BetterUp position, Prince Harry is expected to have input on initiatives, including decisions on product strategies and charitable contributions, and to publicly advocate for topics related to mental health.
“This is a meaningful and meaty role,” said BetterUp CEO Alexi Robichaux. He said he was introduced to Prince Harry by a mutual friend and started dating him last fall.
The position of chief impact officer is relatively rare in the corporate world, although some companies, including Salesforce.com Inc. The title is more common in organizations such as Amnesty International USA and the United Way.
Mr. Robichaux declined to comment on how Prince Harry would be remunerated and did not share the details of his employment deal, saying he would join the company’s leadership team as an “corporation officer”. Prince Harry will not manage employees or have immediate reports, but he is likely to spend some time in San Francisco headquarters once it is safe, and attend all meetings, Mr. Robichaux said. He is also expected to appear at special company events.
MEGHAN MARKLE, PRINCE HARRY: WHAT ARE THEY JUST WORTH?
Prince Harry has long been open about his personal struggles with sadness and mental health issues, and BetterUp executives were drawn to his earlier advocacy work as a member of the royal family, and feel he has a different perspective for the company, Mr. said. He added that he regarded the military experience of the duke as another distinctive force. “He comes from a very different background” than other drivers, he said.
Meghan Markle and her husband, Prince Harry, are advocates for mental health. (Getty)
“It’s about acknowledging that it’s not so much what’s wrong with us, but more about what has happened to us over the course of our lives,” Prince Harry said of the importance of striving for spiritual fitness. ‘Often due to social barriers, financial problems or stigma, too many people cannot focus on their mental health before being forced. I want us to move away from the idea that you should feel broken before seeking help. ‘
In addition to the BetterUp post, the Duke and Duchess have signed an agreement to provide content for Netflix Inc. create another to host podcasts for Spotify Technology SA. According to people with knowledge of the agreement, the five-year Netflix deal is valued in the $ 100 million range, The Wall Street Journal reported earlier.
MEGHAN MARKLE, PRINCE HARRY: HOW MUCH DID THE ROYAL USE ON DUKE AND DUCHY OF SUSSEX?
The Duke and Duchess of Sussex undertook a flash for public relations, which recently appeared in a buzzing premium-time interview with Oprah Winfrey that drew millions of viewers. In the interview, the couple discussed mental health issues, and the Duchess said she had suicidal thoughts after marrying the British royal family.
Although more companies have utilized celebrities in recent years due to their pop culture expertise and to give organizations a marketing boost, most have placed high figures on their boards, rather than in the C-suite. According to Mr. Robichaux of BetterUp, the company decided on the position of the impact officer because he wants a title that will reflect the wide range of responsibilities.
GET FOX BUSINESS ON THE GO by clicking here
Mr. Robichaux says there has been little backlash from the management of BetterUp or others in the company to bring Prince Harry on board.
“He’s synonymous with this approach to mental fitness and really investing in yourself,” he said. Robichaux said. “It was not a hard internal sale.”
The CBS primetime special “Oprah with Meghan and Harry” averaged 17.1 million viewers on Sunday night to end with the largest primetime audience for a non-sporting event during the 2020-21 television season. (Joe Pugliese / Harpo Productions via AP)
After its founding in 2013, BetterUp grew rapidly. The company has a network of more than 2,000 buses and the platform is used by a number of large companies, including Hilton Worldwide Holdings Inc., Chevron Corp., Salesforce.com and others. In February, BetterUp raised $ 125 million in a range of D-financing that the company valued at $ 1.73 billion.
Prince Harry has been using the BetterUp app and a trainer for a few months now, and he said filling out the initial questionnaire was a bit awkward because his background did not match a list of multiple-choice questions. “I realize I’m an outlier, and there’s no need to hire the engineers for that!” he joked, adding: “I was connected to my coach, who honestly is really great and has always given me good advice and a fresh perspective, which is so valuable.”
CLICK HERE TO READ MORE STORIES ABOUT FOX CASES
BetterUp’s CEO says the duke has already considered decisions. At a recent strategy meeting on how to position a product, Prince Harry recommended that managers set the instrument in terms of resilience and overcome adversity and setbacks in a challenging time, Mr. Robichaux said.
Although he will not run his own team, the prince will find a receptive audience among other BetterUp employees who are eager to work with him – and perhaps rub his elbows – Robichaux predicted.
“He will, of course, make the whole organization jump in to help him,” he said. Robichaux said.