Prince Andrew has recently relinquished his royal titles, but despite this, his net worth remains substantial. The former Duke of York withdrew from his official duties in 2019, yet he continues to reside at Royal Lodge in Windsor without a public income. Reports suggest he has managed to sustain his lifestyle through undisclosed means.
While the specifics of Andrew’s income sources remain unclear, it is known that he receives a pension from his service in the Royal Navy, amounting to approximately £20,000 annually. Additionally, in 2022, he sold his extravagant chalet in Verbier for £20 million. Celebrity Net Worth now estimates his total net worth at £3.7 million post his title renunciation.
The decision to part ways with his titles was made in consultation with the King and the Prince of Wales. The monarch reportedly expressed satisfaction with the outcome, as Prince Charles has grappled with the ongoing issue of his brother’s tarnished reputation since assuming the throne. Prince William, the future king, is believed to support a decisive stance on the matter.
This action marks the first time in over a century that a senior royal has voluntarily given up a dukedom. The last similar instance occurred when Queen Victoria’s grandson, the Duke of Albany, was stripped of his title in 1917 for siding with Germany during World War I.
In an official statement released by Buckingham Palace, Prince Andrew articulated, “In discussion with the King, and my immediate and wider family, we have concluded the continued accusations about me distract from the work of His Majesty and the Royal Family.” Emphasizing his commitment to prioritizing his family and country, he declared his decision to forgo his titles and honors.
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