Prince Andrew's Net Worth and Source of Income Revealed as He Loses Royal Titles
In a decision that did not surprise many, Prince Andrew renounced his royal titles on October 17, following a discussion with King Charles. Reportedly, Charles was determined to ensure that Andrew either relinquished his titles willingly or risk having them revoked through Parliament. As the Duke loses his last remaining honors, many have speculated about the Prince's source of income and net worth, now that the King has officially cut him off.
While Andrew's net worth has never been publicly shared, Celebrity Net Worth reports that he is currently worth $2 million. Previously, The Times cited that Andrew was able to raise money for Royal Lodge through credible sources approved by Sir Michael Stevens, the Keeper of the Privy Purse. According to a new report by HELLO!, Andrew's only income source is from his Royal Navy pension, which is approximately $26,700 a year. Before stepping back from royal duties, he would have been able to earn a salary of around $3,33,500 from the Sovereign Grant.
In terms of his property sales, the former Duke of York has made several high-profile deals, generating handsome income. In 2022, he sold a luxury chalet in Verbier to British financier Philip Muelder for roughly $26.7 million, which he and Sarah Ferguson bought in 2014. Similarly, in 2007, he sold his Sunninghill Park home to Timor Kulibayev, the son-in-law of the then-President of Kazakhstan, for about $20 million.
However, royal author Andrew Lownie, who wrote the scathing book, Entitled: The Rise and Fall of the House of York, hinted that some of Andrew's funds may have come through his connections from his friendship with Jeffrey Epstein. He told The Times, "As the Duke himself admitted in his Newsnight interview, Jeffrey Epstein introduced him to useful business contacts."
The author spilled, "He [Andrew] also developed lucrative connections in Central Asia and the Middle East during his ten years as special representative for trade and investment. There have long been concerns about how he has since used those contacts. Now he is no longer a working royal, there is far less scrutiny of his business activities — but it is an area that needs to be looked at." Lownie has previously claimed that the disgraced Prince continued to fund his lavish lifestyle through discreet 'under-the-radar' activities, even after being cut off by Charles.
In his book, Lownie also alleged that the late Queen Elizabeth had a role in securing Andrew's future after being cut off. He shared that the 65-year-old had allegedly received a $317,000 allowance from the late Queen, who had approved the arrangement, and that he was permitted to claim additional expenses. Although government officials had assured the public that he would be "kept on a tight rein," Lownie claimed that the Prince "whenever possible... used his official role to indulge other activities."