Prince Andrew has faced calls to confirm how he funded the substantial out-of-court settlement – which is reported to be as much as £12 million – and whether the Queen or even the Prince of Wales contributed to the sum. The Queen receives £21.7 million a year from the Duchy of Lancaster and is believed to use an unknown amount of this private income to fund Andrew’s royal duties and part of his private life. Daily Mail Royal editor Rebecca English has claimed Andrew’s expensive lifestyle could force him to ask for handouts from other royals.
Palace Confidential on Mailplus host, Jo Elvin said: “With no work on the horizon, presumably he’s going to be relying on his family’s help for he rest of his life?”
Ms English added: “It’s important to stress that Prince Andrew is not living on the bread line but he does have a very expensive lifestyle.
“He may not be working now but he does still live in a very grand house, Royal Lodge at Windsor.
“The upkeep of that and grounds must be massive.
“Of course the big issue for him is he and his ex-wife Sarah, Duchess of York have always lived and aspired to a lifestyle they couldn’t really afford which is one of the reasons why they found themselves being bank-rolled by some pretty nefarious characters over the years in the first place.
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“Quite what he’s going to do for money going forwards, I don’t know.
“He will have private investments and money that’s bequeathed to him like other members of the Royal Family.
“I suspect he will probably have to go to the bank of mum in the future as well.”
The Queen receives the Sovereign Grant to fund her official duties as head of state and to maintain the occupied Royal Palaces.
No member of the royal family receives a private income from the grant or any other public funds.
She stripped him of his honorary military roles in January, with the duke also giving up using his HRH – a style he was born with.
The legal document from Ms Giuffre and the duke’s legal team read: “Pursuant to Federal Rule of Civil Procedure 41(a)(1)(A)(ii), and the parties’ settlement agreement dated February 12 2022, Plaintiff Virginia L. Giuffre and Defendant Prince Andrew, Duke of York hereby stipulate to the dismissal of this action, with prejudice.
“Each party to bear her/his own costs and fees.”
Andrew is reportedly in the process of selling his Swiss ski chalet, with the property expected to generate many millions in funds.