Questions persist over how Prince Andrew financed the luxury lifestyle | Prince Andrew

With little visible support, questions about how the Duke of York was able to finance his way of life were rarely answered. In the past, he seemed to be living the jet-set life of a multimillionaire, with vacations on luxury yachts, regular golf breaks, and ski trips to exclusive beach resorts.

Yet the only publicly known income of the Queen’s second son was the £ 249,000 a year he received as a stipend to fund his Buckingham Palace office while taking on royal duties. The allowance was paid by the Queen from the private income she received from the estate of the Duchy of Lancaster. In addition to this allowance, Andrew would also have a small pension from his service in the Royal Navy, a job he left in 2001.

Today, with no royal duties to perform, it is not known what he receives, if any, from his mother. Forced to retire from public life in November 2019 following the fallout from his Newsnight interview about a car accident on his friendship with Jeffrey Epstein, he is rarely seen in public.

He owned Sunninghill Park, his former marital home in Windsor. And in 2014, he and his ex-wife, Sarah Ferguson, bought a seven-bedroom chalet in the Swiss ski resort of Verbier.

One source of income, one can assume, could come from the sale of Sunninghill Park, which was bought in 2007 by Timor Kulibayev, the President of Kazakhstan’s son-in-law, for £ 15million, or £ 3million more than ask for a price.

Today he and Ferguson cohabit at the Royal Lodge, a Grade II listed house in Windsor Great Park and the former residence of the Queen Mother, where they moved in 2004.

As for the Swiss chalet: in 2020 it would have hit the market with an asking price of £ 18.3million. According to Mail on Sunday, who said the figure was exactly what the couple had paid for it six years ago, the property was the subject of a lawsuit between the Yorks and a French socialite.

Andrew’s friendship with David Rowland has regularly been the subject of speculation on how the Duke has managed to maintain his comfortable lifestyle.

The Duke was an official guest at the opening of Rowland’s bank Havilland in Luxembourg in 2009. Two years later, in 2011, it was claimed that Rowland had helped pay off some of Ferguson’s debts.

Sunday mail reported sources close to Ferguson as confirming Rowland had helped wipe out his £ 5million debts, saying he was one of many friends “who rallied”. At the time, the Duchess’s spokesperson said the deal was flawless. However, the claim came days after Ferguson admitted a “Huge error in judgment” by accepting £ 15,000 from Jeffrey Epstein to help him settle his debts.

A Rowland spokesperson told the newspaper: “Prince Andrew was present at the opening of our bank in 2009, but it has nothing to do with anything other than he is supporting a UK company overseas in as a commercial envoy. “

In November 2019, the Mail on Sunday said he had conducted an investigation and claimed Andrew was involved in a business venture with the financier, based in a Caribbean tax haven.

He alleged that Andrew allowed Rowland and other members of his family to accompany him on certain trade missions while he was then Britain’s “special representative” for trade and investment. Andrew was forced in 2011 to resign from his post, for which he received no salary but paid his expenses and travel expenses, after growing criticism of his friendship with Epstein.

Responding to the latest allegations regarding property sales, a spokesperson for the Duke said he did not intend to comment “on the veracity or not” of the claims made, “other than to state that the Duke has the right to a certain degree of confidentiality in the conduct of fully legitimate personal financial affairs, on which all appropriate accounting actions are taken and all taxes duly paid.


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