Prince Andrew’s net worth: Royal family funding in disgrace after his exclusion from the royal family | royal | New
Prince Andrew is ‘confident’ he will find a role again, says Wilkinson
The Duke of York has been forced to stay out of public view after being excluded from the traditional Order of the Garter procession at Windsor Castle. Buckingham Palace sources have confirmed that a “family decision” meant Prince Andrew was only invited to lunch and the investiture of new members of the Old Order, both of which are being held privately. But he did not join other members of the royal family who traveled from Windsor Castle to St George’s Chapel for the Garter Day service.
It has been reported that Prince Charles and Prince William convinced the Queen that Andrew’s appearance at the traditional event would have provoked a public backlash.
Garter Day would have been the Duke of York’s first public appearance since taking a prominent role at Prince Philip’s memorial service in March in the face of widespread public criticism.
Andrew has remained largely out of the spotlight since his out-of-court settlement with Virginia Roberts Giuffre, who had brought a civil action against the prince for sexual assault.
The Duke has always denied the allegations and the settlement was not an admission of guilt.
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Andrew was kicked out of the Garter Day ceremony.
As a member of the order, Andrew would have had the right to take a prominent part in the procession
After stepping down from public office after his disastrous Newsnight interview in 2019 two years earlier, Andrew was eventually stripped of his royal and military honors before settling the multi-million pound case.
The Prince settled the lawsuit for £12million, a deal the Queen is said to have helped fund.
So what is the Duke of York worth?
From what is known of Andrew’s personal wealth, she would not have been able to cover a settlement of her size.
Andrew was last seen at his father’s memorial service in March.
In 2017, staff at his private bank, Luxembourg’s Banque Havilland SA, estimated his fortune at around £5 million.
As a working royal, Andrew is said to have received a £250,000 stipend from his mother and some reports suggest he still receives that annual salary.
His other known source of income is a £20,000 pension from the Royal Navy.
And although Andrew has retired from public duties, his lifestyle seems to have remained largely the same.
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How he financed his lavish lifestyle, which includes luxurious vacations, ski trips to exclusive resorts and private jets, has long been wondered.
The prince has a property portfolio which could be used to provide funds.
Last year, Andrew put his £18million Swiss ski chalet up for sale and it was believed he was using the money from the sale to fund part of his payment to Ms Giuffre.
In January, it was reported that a buyer had been found for the seven-bed property in the luxury resort of Verbier.
Andrew owns a Swiss chalet in the luxurious seaside resort of Verbier.
While Andrew hadn’t visited the Chalet in years, his ex-wife Sarah Ferguson – who he shares the house with – and their two daughters are said to have spent New Years there with their families.
It’s unclear exactly how much Andrew would have received from the sale – according to the Daily Mail the property was bought in part from the former couple’s French socialite friend Isabelle de Rouvre, with the rest to be paid in several installments.
Ms de Rouvre sued in May 2020 to recover £5million plus interest owed to her after claiming Andrew and Sarah had missed payments.
At the end of 2020, the case was settled, the prince would have settled all the outstanding debts, which meant that the couple were free to sell the property.
Andrew and Sarah bought the cottage together.
The sale is currently underway, although not yet finalized.
Andrew previously sold his Sunninghill Park home – a wedding gift from the Queen – where he spent the early years of his relationship with Fergie.
In 2007 he sold the property for £15million to Timor Kulibayev, the son-in-law of the then president of Kazakhstan, through an offshore trust in the British Virgin Islands.
Now both Andrew and Fergie reside at the Royal Lodge on the Windsor Estate.
The Grade II listed property, which has 30 bedrooms, a private chapel and 21 acres of secluded land, is leased to the Crown Estate and is not an asset that could be sold.
Andrew and Sarah spent their holidays in Switzerland with their two daughters.
It became Andrew’s private sanctuary, especially as he retired from life as a working royal.
However, there has been speculation that Andrew could return to public life, and the prince is keen to find a way back to his royal duties.
On Sunday, The Telegraph reported that the Duke believes “his status as HRH and ‘Prince of the Blood’… should be restored and his position recognized and respected”.
He is also said to be pushing for his daughters, Princess Beatrice and Princess Eugenie, to become members of the royal family.