Where Prince Andrew gets his money from 'explained' and does he have a job?
Prince Andrew has not been a working royal since 2019
Amid all scandal surrounding him, some may be wondering where Prince Andrew gets his money from.
Prince Andrew’s future has been thrown into turmoil following a string of damaging scandals and his recent loss of royal titles.
Andrew is facing pressure over his finances and living arrangements, prompting a major question: where does Prince Andrew actually get his money from, and how is he still able to afford his lavish lifestyle at Royal Lodge?
Where does Prince Andrew get his money?
When Prince Andrew was still a working royal, he reportedly received income from the Sovereign Grant, a publicly funded allowance used to support official royal duties.
His exact share of this sum was never made public. However, it is understood that the grant ceased in 2019 when he stepped back from royal duties following his disastrous BBC Newsnight interview.
In that now-infamous broadcast, the prince addressed his friendship with convicted sex offender Jeffrey Epstein. He also denied Virginia Giuffre’s sexual assault allegations against him.
The interview sparked widespread public outrage and led to him stepping back.
His mother, Queen Elizabeth II, allegedly continued supporting her son with a private allowance. King Charles reportedly followed suit. However, last year, reports claimed that the king had put his foot down and withdrew Andrew’s financial support.
“The duke is no longer a financial burden on the king,” a source told the Daily Mail at the time.
Andrew was reportedly left with a £20,000 naval pension.
Since then, Andrew’s financial independence has been the subject of speculation. Some reports estimate his personal fortune to be around $5million (around £3m). However, it is believed that much of his wealth comes from investments and business connections rather than any active employment.
He reportedly built a portfolio of international business connections, particularly in China and the Gulf States. Andrew also had a now-suspended partnership with Dutch start-up Startupbootcamp through his company, Pitch@Palace.
Andrew also profited handsomely from the 2007 sale of Sunninghill Park. The 12-bedroom mansion was gifted to him by the queen as a wedding present. The property sold for £15million (around $19m), reportedly £3m over the asking price.
Royal Lodge lease
Another major financial buffer for Andrew is his lease on Royal Lodge, the sprawling 30-room mansion in Windsor Great Park where he has lived since 2004.
The prince signed a 75-year lease in 2003 with the Crown Estate. He reportedly paid £1million upfront for the lease and invested £7.5 million in renovations.
The arrangement allows him to pay a symbolic “peppercorn rent”. This is the equivalent of just £1 per year, “if demanded”.
However, the property has become a source of royal tension.
Despite his legal lease, pressure to remove Andrew from Royal Lodge is mounting. King Charles and the Prince and Princess of Wales are reportedly determined to see him vacate the residence before William and Kate move into their new home, Forest Lodge, which is located nearby in Windsor Great Park.
According to reports, Andrew has offered to give up Royal Lodge if he and his ex-wife Sarah Ferguson are granted Frogmore Cottage and Adelaide Cottage instead.
Prince Andrew allegations
Meanwhile, Andrew’s reputation has been further damaged by new revelations about his association with Epstein.
In recent weeks, a leaked 2011 email emerged allegedly showing the prince telling the disgraced financier, “we’ll play some more soon”. The email was reportedly sent after the now-infamous 2001 photo of him with then-17 Virginia Giuffre emerged in the press for the first time.
The timing of the message directly contradicts Andrew’s claim in the 2019 Newsnight interview that he had cut ties with Epstein in December 2010.
The BBC also recently verified that a 2006 photograph of Epstein and his associate Ghislaine Maxwell was taken in the gardens of Royal Lodge. The revelation seems to confirm that they were hosted at Andrew’s private home during his daughter Princess Beatrice’s 18th birthday celebrations.
The event took place months after a US arrest warrant had been issued for Epstein for the alleged sexual assault of a minor.
Meanwhile, Ms Giuffre’s posthumous memoir was released last week after her tragic death in April. It has reignited scrutiny over Andrew’s past.
In the book, she detailed the allegations that she was made to have sex with Andrew on three occasions when she was 17 after she was trafficked by Epstein.
Andrew has vehemently denied all allegations and maintains he has no recollection of ever meeting her.
In 2022, he reached an out-of-court settlement with Ms Giuffre without admitting liability after she sued him in 2021 in a US civil case.
Read more: ‘Desperate ploy’ behind Prince Andrew and Sarah Ferguson’s ‘plan’ over Royal Lodge ‘move’
What do you think? Let us know by leaving a comment on our Facebook page @RoyalInsider. We want to know your thoughts!
