IMPORTANT POINTS
- Prince Andrew has an estimated net worth of $ 45 million
- He receives a tax-free payment of $ 323,000 each year from his mother, Queen Elizabeth II
- The Duke of York resigned from his royal duties in 2019 after giving an interview about his connections with Jeffrey Epstein
Like other members of the British royal family, Prince Andrew leads a life of luxury. But despite having enormous net worth and owning a valuable real estate portfolio, the disgraced Duke of York earns much less compared to other high-ranking members of the royal family.
The 61-year-old prince, ninth in line to the British throne, is receiving a sizeable, tax-free payment of $ 323,000 a year for performing his royal duties, the Times reported. This money comes directly from the private property of Queen Elizabeth II, the Duchy of Lancaster.
Prince Andrew, the third child of the monarch and her late husband, Prince Philip, has ceased official duties as a member of the royal family after stepping down from royal duties in 2019 after a backlash over his ties to Jeffrey Epstein. It is unclear whether his annual salary has decreased since he retired.
But the Duke of York still has a staggering $ 45 million fortune, according to Celebrity Net Worth.
In addition to his allowance from his mother, Prince Andrew is also receiving an annual pension of $ 26,000 from the Royal Navy, where he served for 22 years before retiring in July 2001, Fox Business reported.
Most of Prince Andrew’s fortune is tied up in his multimillion-dollar real estate, including a $ 17 million Helora chalet in the Swiss ski resort of Verbier and a $ 10 million 30-room residence in Windsor Park called Royal Lodge. He shares this with his ex-wife Sarah Ferguson, Duchess of York.
Prince Andrew also received a large estate called Sunninghill House as a gift when he tied the knot with Ferguson in 1986. In 2002, six years after the couple divorced, Prince Andrew put the house up for sale but could not find a buyer for more than five years.
The house was bought in 2007 by Timur Kulibayev, the son-in-law of the former President of Kazakhstan, for $ 20 million, several million dollars more than the price, according to Fox Business and Celebrity Net Worth. It is believed that some of his current wealth will come from the money he made from selling the property.
His older brother and British heir to the throne, Prince Charles, meanwhile controls the Duchy of Cornwall, which generates around $ 20 million in revenue every year. The trust also pays Prince William and Kate Middleton and earlier Prince Harry and Meghan Markle.
In April, Prince Andrew gave interviews to the UK media following the death of his father, Prince Philip, his first since retiring from public duties for the royal family.
Recently, Virginia Roberts Giuffre, one of Epstein’s alleged victims, filed a lawsuit against Prince Andrew accusing him of sexually abusing her when she was under 18 years old.
Prince Andrew has vehemently denied having sex with Virginia Giuffre, saying he couldn’t remember meeting her Photo: AFP / JOHN THYS