Prince Andrew has formally relinquished all his royal titles, including the Duke of York, in a dramatic move that caps years of controversy.
The decision follows a series of scandals, from his friendship with the late paedophile Jeffrey Epstein to his reported links with an alleged Chinese spy.
This week, the former royal made headlines again due to his connection with Cai Qi, a Chinese official at the center of a collapsed espionage trial.
The timing is notable, coming just ahead of the publication of the late Virginia Giuffre’s memoir, which alleges a sexual relationship with Andrew when she was 17.
Andrew stepped back from royal duties in 2019, but he has continued living at Royal Lodge in Windsor despite not drawing a public income.
This has sparked curiosity over the former Duke of York’s personal fortune. Celebrity Net Worth estimates it at around £3.7 million.
Last year, The Times reported that the he successfully secured enough funds to continue living at Royal Lodge in Windsor approved by Sir Michael Stevens, Keeper of the Privy Purse, confirming the money came from legitimate sources.
The former Duke of York’s finances remain a mystery, but it’s widely believed his only guaranteed income comes from his Royal Navy pension around £20,000 a year.
Before stepping back from royal duties and losing access to the Sovereign Grant, Andrew could have drawn a salary of roughly £250,000.
Big ticket property sales have clearly boosted his fortune. In 2022, he sold a luxury chalet in Verbier to British financier Philip Muelder for near its £20 million asking price.
Andrew and his ex-wife, Sarah Ferguson, had purchased the property in 2014 from a friend.
Earlier, in 2007, he sold Sunninghill Park to Timor Kulibayev, son in law of Kazakhstan’s ex president for £15 million.
Biographer Andrew Lownie suggests that some of Andrew’s wealth may stem from connections made through his friendship with the late Jeffrey Epstein.
Lownie told The Times, “As the duke himself admitted in his Newsnight interview, Epstein introduced him to useful business contacts. He 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.”
