The final oracle of Haggai is often viewed as royalist in orientation, with the prophet promoting Zerubbabel as a royal (or even messianic) figure. This study seeks to dispute the majority view. Neither the election terms used nor the metaphor of the “seal” assign a royal identity to him. The focus is on the dual leadership of Zerubbabel and Joshua. Nowhere in the prophecy is Zerubbabel identified unequivocally as a Davidide. The temple orientation and the highlighting of divine action show that the establishment of God’s kingdom is in view, not the promotion of Zerubbabel as God’s vice-regent.