Recent analysis has looked into outgoings of the 61-year-old Duke of York including the purchasing of vehicles, the reported cost of his daughter Eugenie’s wedding and the upkeep of his expensive property. The financial affairs of Prince Andrew have previously been described as both “mysterious” and “murky”, but recent findings suggest how the Duke maintains his “free-spending lifestyle”.
Reportedly, Andrew’s income consists of a £250,000 annual stipend from the Queen and a £20,000 navy pension.
However recent analysis by The Times has suggested that the Duke’s outgoings exceed this.
This analysis comes after claims made earlier this week that allege Andrew had a £1.5million loan paid off by a Tory donor.
The documentation seen by Bloomberg News showed that from 2015 Andrew was borrowing a sum of money from a credit facility.
According to the documents, this lending figure totalled an average of £125,000 every three months.
In November 2017, Andrew allegedly made a final withdrawal of £250,000, before the debt was cleared in its entirety 11 days later by the Tory donor.
An analysis by The Times has further has delved into the spending habits of the Queen’s second son.
The outlet examined purchases made by the Prince in recent years, including a £220,000 Bentley he purchased in 2020, to add to the two Range Rovers he is already in possession of.
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The royal also reportedly owns a collection of luxury watches.
For the last seven years, he has also paid a large mortgage on a luxury chalet in a Swiss ski resort – but this has now been put up for sale after French socialite Isabelle de Rouvre sued Andrew for reportedly failing to pay the final instalment of £6.6million.
In addition to these costs, the Duke could also be providing financial support to his ex-wife Sarah Ferguson, 62, and his two daughters Princess Beatrice, 33, and Princess Eugenie, 31, both of whom welcomed their first child in 2021.
The cost of Princess Eugenie’s 2018 wedding to her husband Jack Brooksbank which reportedly totalled £2.8million before security, was paid for privately.
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It is unclear whether this bill was settled by Andrew, though traditionally it is the responsibility of the bride’s family – specifically, her mother and father – to pay for most of the wedding.
According to royal biographer Tom Bower, Andrew and Fergie have an “appetite for luxury”, which could explain the lavishness of the ceremony.
He said: “They [Sarah and Andrew] have an appetite for luxury which is beyond the understanding of mere mortals.
“There’s a sense of entitlement in it all that is the real problem. They think nothing is too much for them.”
Despite stepping away from royal duties in 2019, Andrew also still lives on the Queen’s Windsor estate – residing at Royal Lodge, a stately home with 30 rooms.
While the expensive property is owned by the Crown Estate, the Duke must pay a notional rent.
However, the Duke may have to shell out anything from hundreds of thousands of pounds up to a sum of £1million a year for the upkeep of the property and staffing costs, according to property experts.
The Duke could also pay a fee for security for the property, and security experts claim the cost is likely to be at least half a million pounds a year.
Express.co.uk contacted Prince Andrew’s representatives for comment.
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