What we know of the royal’s wealth as he sells his £ 17million Swiss ski chalet

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Prince Andrew, Duke of York, has found a buyer for his luxury Swiss ski chalet, after settling a £ 6.6million debt on the Verbier property to help fund his alleged abuse sexual, I has learned.

It is understood that the buyer has agreed to purchase the chalet for around £ 17.5million and is nearing completion.

Prince awaits decision from New York judge on whether Virginia Giuffre’s sexual assault allegations will be dismissed by court, following Ms Giuffre’s settlement agreement with Jeffrey Epstein unsealed last week.

In the event that Judge Lewis Kaplan denies the Duke’s request to dismiss the case, the money from the sale of the cottage will be added to his defense fund.

The money can also be used to help settle the matter out of court with Ms. Giuffre.

The sale of the cottage raises the question of just how wealthy Andrew is and how badly the affair could hurt him financially.

Here is what we know.

How rich is Prince Andrew?

Since leaving the Royal Navy in 2001, the Duke’s only known income was the £ 249,000 a year he was receiving as an allowance from Buckingham Palace for the performance of his royal duties.

However, he was forced to step down from that post in November 2019, following his infamous Newsnight interview about his alleged friendship with the late convicted sex offender Jeffrey Epstein.

Prince Andrew receives a pension of £ 20,000 a year from the Navy. It is not known if he still receives a stipend from the Queen.

There have long been questions about how he funded his lavish lifestyle, which included multiple vacations, ski trips to exclusive resorts, private jets, and lavish yachts.

He will likely have received money from the sale of Sunninghill Park, the house he shared with his ex-wife Sarah Ferguson. It was bought by Timor Kulibayev, the President of Kazakhstan’s son-in-law, for £ 15million in 2007.

Prince Andrew and Mrs Ferguson currently live at the Royal Lodge, a Grade II listed house in Windsor which once housed the Queen Mother.

The Duke’s friendship with multi-millionaire conservative donor and financier David Rowland is frequently brought up in conversations about his financial situation.

Companies related to Mr. Rowland reportedly repaid a personal loan of £ 1.5million that Andrew released in 2017.

Bloomberg News reported in November that Andrew took out the loan from Luxembourg’s private bank Banque Havilland in December 2017, and that it was repaid 11 days later by companies associated with Mr. Rowland, the bank’s founder.

the Mail on Sunday Previously reported that Mr Rowland helped repay some of Ms Ferguson’s debts – estimated at around £ 5million – in 2011, two years after Andrew was the guest of honor at the official opening of Bank Havilland .

A spokesperson for Mr Rowland told the newspaper at the time: ‘Prince Andrew was present when our bank opened in 2009, but it has nothing to do with other than supporting a business. British overseas as a trade envoy. “

The same paper claimed in 2019 that the Duke is involved in a business venture with Mr. Rowland in a Caribbean tax haven.

Regarding these reports, a spokesperson for Andrew told the Guardian in November of last year: “We do not intend to comment on the veracity or otherwise of the series of assertions you have made to us, except to state that the Duke is entitled to a certain degree of confidentiality in the conduct of his completely legitimate personal financial transactions. business, on which all appropriate accounting actions are taken and all taxes duly paid.

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