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Original word coined by The Toadours, defined here by Viktor Philippines. The same definition as Megxit. It means Meghan's exit from the Royal Family.
Prince Harry thinks Megxit or Sussexit was made out of malice. It was not.
Sussexit is a play on the term 'Brexit' and refers to Prince Harry and his wife Meghan stepping back as members of the British royal family.
The first and second definitions here of Sussexit is done by Vikor Philippines or Archewell LV Harvatera Asia on Twitter.