Prince Andrew has been banished from Royal duties in the midst of the Jeffrey Epstein allegations, but the Queen’s second son is still an extremely wealthy man.
The Prince, who was born Andrew Albert Christian Edward, was removed from his public duties after a disastrous television interview following claims of sexual misconduct involving an underage girl. He denies those claims, but he’s been unable to shake them.
The Royal Family’s net worth is in the billions of dollars, but much of the family’s great fortune is tied up in properties that the family members would never be able to sell. Still, members of the Royal Family are quite wealthy in their own right, and they, in the most prominent cases, derive annual incomes from those properties.
What is the Prince Andrew’s net worth? How much is the Duke of York worth?
Prince Andrew Net Worth: At least $41 Million
Net worth estimates for Prince Andrew vary, but they all agree on one thing: The Prince is worth many millions of dollars, at least $41 million. Celebrity Net Worth puts Andrew’s net worth at $45 million. The Richest goes higher, putting Andrew’s net worth at $85 million. The Sun reports that Andrew’s net worth is about $41 million.
Here’s what you need to know:
1. Prince Andrew Received a Sovereign Grant
Because he was performing royal duties and had about 200 patronages, Prince Andrew had qualified for a sovereign grant. That will now end, according to News.com.au.
Andrew received a sovereign grant of around $320,000 a year. According to Metro, that payment was tax-free.
The Queen’s supposed favorite son could receive money from his mother, though. The Duke lives a celebrity lifestyle. As The Sun puts it, he’s spotted on St. Tropez beaches, superyachts, and “jetting around the world.”
2. The Duke Owns a Swiss Chalet & Drives a Bentley With a Personalized Plate
According to Metro, Prince Andrew owns a Swiss chalet in Verbier, a ski resort.
It’s one of two major properties that he owns. Express reports that Andrew’s chalet is worth almost $17 million.
The Sun describes the chalet as containing “priceless antiques, seven bedrooms, massive indoor pool, sauna, sun terrace and bar.” The British publication reported that the Prince is prone to other excess, tooling around in a Bentley with the personalized license plate DOY.
3. Prince Andrew Owns the Royal Lodge in Windsor Park & Sold Another Home for Millions
The Royal Lodge in Windsor Park is the prince’s key residence. The English mansion has 30 rooms and is worth $10 million. When Andrew married Sarah Ferguson, his mother gifted him a country estate called Sunninghill House.
According to Celebrity Net Worth, he sold the home in 2007 for $20 million after it sat on sale for five years. The home was purchased by an overseas trust and then sat empty. The Sun reports that the buyer was the son-in-law of Kazakh dictator Nursultan Nazarbayev. Daily Mail described the buyer as Timur Kulibayev, “another Kazakh oligarch Andrew met on the global trade circuit.”
Prince Andrew also served in the Navy and he qualifies for a pension of around $25,000 a year.
4. Andrew’s Source of Income Remains a Bit of a Mystery
The prince once known as “Randy Andy” has always courted a bit of mystery – and controversy – around his net worth. David McClure, author of Royal Legacy told the Times: “There is a mystery as to what he lives on and where his money comes from. Andrew’s situation raises the wider issue of the lack of meaningful employment opportunities for middle-ranking royals.”
According to the Richest, the prince has been a shrewd investor in the stock market who also owns several London restaurants, a football team called the London Angels, and Vodka and perfume brands.
British publications have accused the prince of conducting secretive, perhaps dodgy deals. Daily Mail reported that he’s developed a reputation as “a sort of commercial ‘fixer’ to wealthy businessmen, using his contacts book and Royal stardust to help them set up lucrative deals in far-flung corners of the globe.” Yet, how much he makes from them and the specifics remain unclear. In the case of Epstein, the duke was given access to his plane and mansions, according to Daily Mail. Some of those contacts have occurred in the Middle East. He’s spent time in Kazakhstan on trade visits.
He had enough money to pay off his ex-wife’s debts, to renovate his primary residence, and to sport Rolex watches.
5. Queen Elizabeth II’s Net Worth Is Around Half a Billion Dollars
Queen Elizabeth II is said to be worth about $425 million, although some sites say she is worth about $550 million. When her father died, Elizabeth inherited castles and other properties. For example, according to House Beautiful, the Queen owns the $65 million Sandringham House and $140 million Balmoral Castle because she inherited them from King George VI, her father. She also receives what is called a “sovereign grant” and also money from the Duchy of Lancaster.
Estimates have pegged the Royal Family’s net worth at about $88 billion. That’s misleading, though, only because the family can’t sell much of its vast landholdings, and the figure includes the family’s power as a brand. You can’t put a for sale sign on Buckingham Palace, for example. However, the senior members of the royal family are still sitting pretty on a massive fortune, and they derive millions of dollars in income each year through those properties and other ventures.
The queen, who is the wealthiest member of the royal family, earns millions of dollars a year from what is called the “Crown Estate.” Although she can’t sell the vast landholdings within the Crown Estate, Queen Elizabeth II reaps an annual income from its management. This is in addition to wealth she personally inherited from her father, the late King of England.
“The Sovereign Grant is conditional — the Queen surrenders all profits from the Crown Estate, a massive collection of land and holdings in Wales, Ireland and Scotland, in exchange for 15% of the Crown Estate’s net revenue from two years prior,” House Beautiful reported, noting that this has given the queen as much as $48 million a year and the cut was raised to pay for Buckingham Palace renovations.
According to BBC, the Crown Estate “is an independent commercial property business and one of the largest property portfolios in the UK. Most of the portfolio is made up of residential property, commercial offices, shops, businesses, and retail parks.” The money from the Crown Estate goes to the treasury, but the Queen is then given a percentage of it back as income. Once Charles is crowned as King, it’s expected he will gain this income too.
Prince Charles’ net worth is in the area of $100 million, The Richest has estimated.
Princes William and Harry also receive money from the Duchy of Cornwall, which spent about $9 million on them and Prince Charles collectively over the past two years for public activities.
When the Princess of Wales died in Paris, she made sure that her sons, William and Harry, would be well cared for, bequeathing them both millions of dollars. Princess Diana’s estate is believed to have been about $28 million. Her sons received equal portions of her estate when they turned 30-years-old.
READ NEXT: More on Prince Andrew.