WHY Andrew has been partying around the world, driving a £220,000 Bentley, and expensive solicitors have reported paying up to £2,000 an hour – but where does his money come from ?
Once dubbed “Air Miles Andy” and “Playboy Prince” for his penchant for luxury travel and the reputation that lives for it, new questions are being raised about the Duke’s seemingly extraordinary wealth. .
With a watch collection believed to be worth hundreds of thousands of pounds, life on the jet has seen him party everywhere from St Tropez to New York, and, until recently, chalets £17 million skiing in the Alps, Andy’s millionaire lifestyle seems to eclipse that of other Royals.
However, despite all this glitz, his official annual income is believed to be just £248,000 in pocket money from the Queen and a Royal Navy pension of just under £20,000.
With that stipend aimed at covering the costs of his duties, including his staff, it doesn’t seem far enough to cover his lavish lifestyle.
The rest of Andrew’s private fortune remains – as royal financier David McClure puts it – “hidden in mystery”, with the Royal pension and pension being the only source of official income. his for the past 20 years.
His apparent hidden fortune is back in the spotlight as he faces a potentially multimillion-pound legal battle against his sex accuser Virginia Giuffre.
Andrew has a luxury car and watch collection, including several Rolexes, Cartier products and a Patek Philippe watch worth nearly £150,000.
And he is also known to have a fondness for expensive cars, including the Bentley and a brand new £80,000 Range Rover.
Last year, Andrew’s old Bentley Flying Spur went up for sale for £94,450.
Bought brand new in July 2015 for an estimated £150,000, it was later resold by Duke before its new owner also sold it.
Andrew also spent the 2000s becoming a regular on the transatlantic jet when he paired up with Jeffrey Epstein and Ghislaine Maxwell.
And just some of his vacations include a trip to Phuket in 2000, where he stayed at a “super exclusive” £4,000-a-night resort and photographed topless women on private yachts.
The Duke has also partyed a number of times in St Tropez – and has been photographed attending social events in the US, such as in New York and Florida.
Throughout the years, Andrew worked as a trade ambassador until he resigned in 2011.
During this time, he is said to have interacted with the rich and powerful, including hunting with Kazakh leader Nursultan Nazarbayev and having a meeting with the Libyan dictator, Col Gaddafi.
Andrew is said to have always traveled in style – including himself massage mattress with him, have a private healthcare doctorand have a servant equipped with ironing board.
And around this time, it was claimed that Andrew teetotal would open £300 bottles of champagne to his friends as he frequented nightclubs and went “on holiday after holiday”. “.
David McClure, whose book The Queen’s True Value released in 2020, told The Sun Online: “The answers behind the source of Andrew’s fortune are shrouded in mystery.”
The royal expert says questions have been raised about Andrew’s wealth “for at least 15 to 20 years”.
Fighting his legal case against Virginia was previously estimated to cost him up to £4.4 million.
Bloomberg has reported that his team, led by powerful Los Angeles lawyer Andrew Brettler, will cost him up to £220,000 a month – Brettler alone is reported to pay commanding fees of up to 2,000 hourly table.
And if he loses, Andrew could face up to £10m in damages – or face the bailiff if he refuses to stand up.
While this may have been partially funded by his recent ski chalet sale, the question remains where all this money will come from.
The chalet was initially paid for a £13m mortgage mortgaged by Andrew and his ex-wife Sarah Ferguson, with the promise of a final £5m payment in cash.
The duke earlier this year is said to have paid £6.6m – £5m plus interest – to French social site Isabelle de Rouvre following a legal battle over the unpaid charge.
And before that, the Duke sold his home in Sunninghill Park – a marriage gift from the Queen – for £15 million in 2007, which may have somehow financed the his lifestyle.
Mr McClure added that although the Duke is selling his Swiss ski chalet to cover some of his expenses, he is “hardly able to make more than £2-3m from the sale”.
Andrew and Fergie share the Royal Lodge, the former home of the Queen Mother, after moving into the beloved 30-room mansion upon her death in 2001.
According to David, the couple only paid a “pepper rent” for the house, although the exact amount is not known.
“We will not comment on any individual’s lease details,” a Crown Estate spokesman told The Sun Online.
In 2003, Andrew is said to have spent around £7.5m renovating the property and again, the source of this money is unclear.
Despite the favorable rental situation from his mother, he still has to pay staff rent and maintenance, which is estimated at £1 million a year.
Mr McClure speculates that Andrew “mixed with the rich” when he was the UK’s trade ambassador, which may have helped him build a “valuable stock portfolio”.
“I wouldn’t be surprised if some of the wealthy people he meets, such as Jeffrey Epstein, give him helpful financial advice,” David said.
Norman Baker, a former Lib Dem minister who wrote the book “…And what do you do?” Royal spending polls, have also raised questions about Andy’s wealth.
“Andrew has accumulated a lot of money over the years without us even knowing it,” he told The Sun Online.
The former minister continued: “He has clearly been receiving money elsewhere for decades.”
Mr Baker said he believed many of the Duke’s luxuries could have been gifts from business partners, but this still could not cover his costs.
David McClure said: “There is no doubt that Andrew likes to live high up.
“He doesn’t have much to do and he seems to have been bored since leaving the navy.
“Aside from his job as a trade ambassador, he hasn’t had a proper role, and he’s cut a character that’s pretty sad.”
Mr Baker added that Prince Andrew was “likely” still supporting his ex-wife Sarah Ferguson, who had previously run into money troubles.
“Fergie spends money like water on a sieve,” says Norman.
The Duchess of York has had several cash troubles over the years, including the recovery of an estimated £5 million overdraft from Coutts, the Queen’s bank, in the mid-1990s, before running into financial trouble again in 2011, debt piled up to £2m.
And she even accepted £15,000 from Andrew’s close friend Epstein to clear her personal debt.
A year earlier, she was caught trying to sell access to Andrew, then the trade envoy, for £500,000.
Mr Baker said that with Andrew’s growing legal troubles, many of his former contacts now consider “damaged goods” and will “fight it” to find a source of funds. new.
“Andrew will need to cut his fabric from now on,” he said.
David agrees and adds: “It is inevitable that if he loses, he will have to accept a restriction in his lifestyle.
“We saw that to an extent when he sold off his Bentley and ski chalet, which I’m sure he wouldn’t want to do.”
There is certainly a need for full disclosure, and if necessary, a parliamentary inquiry into Andrew’s financial position
If Andrew loses the civil case, David believes the Queen will step in to cover the legal costs of her favorite son, “if only to save the Royal Family from further embarrassment”.
A precedent exists for this, as when Prince Charles divorced Diana in 1996, the Queen is said to have loaned her son to help cover a £17 million settlement.
The anti-monarchy advocacy group Republic has called on Congress to investigate the sources of Andrew’s assets.
Chief executive Graham Smith told The Sun Online: “There is certainly a need for full disclosure, and if necessary, a congressional investigation into Andrew’s financial position.
“The apparent disparity between his lifestyle and any apparent income is a serious cause for concern as it raises suspicions that he may be receiving funding from desirable sources.” waiting for something in return.
“Despite everything, Prince Andrew is still well connected and part of the royal family.
“That means any doubt about his financial liabilities becomes a question of public interest.”
The Sun has approached Prince Andrew’s representative for comment.
https://www.thesun.co.uk/news/17548812/prince-andrew-money-house-sarah-ferguson/ The mystery of Prince Andrew’s millionaire partying lifestyle with a 30-bed palace and £220,000 Bentley