Questions about Prince Andrew’s net worth and financial status have been circulating for many years now, especially since it was reported that King Charles removed his annual personal allowance.
Now, rumours are swirling that Prince Andrew has secured enough legitimate funds to remain living at the Royal Lodge – but how? Here’s everything we know about the Duke of York’s finances.
What is the net worth of Prince Andrew of England?
Prince Andrew reportedly has a net worth of £3.9 million pounds, which is around AU$7.65 million.
When his status as a senior working royal was removed in 2019, his salary dropped significantly as he was also removed from the Sovereign Grant list, which is an annual payment from the United Kingdom government to the monarch that funds their official duties.
In the past, the Duke of York is said to have made much of his money through real estate. For example, in 2007 he sold his Sunningdale mansion to a Kazakh tycoon for AU$5.89 million.
However, his only reported current income stream is a modest navy pension.
Prince Andrew has reportedly already spent millions on refurbishing his home at the Royal Lodge, however there were reports that suggested he may be evicted by King Charles as he didn’t have enough money to pay for the maintenance costs.
Now, The Sunday Times has reported that the Duke of York has raised the money to continue living at his residence in Windsor.
The publication alleged that Prince Andrew’s funds were approved by the Keeper of the Privy Purse, Sir Michael Stevens, as coming from legitimate sources, however where this newfound income has come from remains unknown.
How much does Prince Andrew make a year?
Prior to Queen Elizabeth II’s death in 2022, Prince Andrew received an annual personal allowance of AU$2 million.
However, the King allegedly removed this payment when Andrew refused to downsize to Frogmore Cottage instead.
In his new book Charles III: New King, New Court, The Inside Story, royal author Robert Hardman suggested that King Charles offered to move him out of his home at the Royal Lodge to Frogmore Cottage, where the Duke and Duchess of Sussex lived before moving to the United States, to save money on security.
According to Robert, the King would stop paying Andrew’s allowance if he refused the offer to move, but Andrew “had assured the Palace that he would be able to meet all these bills through a combination of money left him by the Queen and his own commercial activities”.
Prince Andrew was allegedly left a significant sum of money as his inheritance from his late mother, which may have contributed to his current financial situation.
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