Prince Andrew steps back from royal duties, renouncing titles amidst the Epstein controversy. Find out how the Duke of York plans to maintain his lifestyle and income post-royalty.
Prince Andrew has officially distanced himself further from the royal family following ongoing controversies tied to his connection with the late financier, Jeffrey Epstein. The brother of King Charles III has now renounced his Duke of York title, alongside any other royal honors, marking yet another step back from public royal duties.
This decision comes amid the shadow of allegations regarding Epstein’s sex trafficking activities. Epstein, who was convicted of serious charges related to prostitution and minors, was arrested in 2019 and charged with trafficking minors for sex, a charge to which he later pleaded guilty. His connections with Prince Andrew became a public spectacle when Virginia Giuffre accused the prince of being involved in Epstein’s crimes, alleging that she was trafficked by Epstein at the age of 17 and made to have sex with Prince Andrew in 2001—claims which he has always denied.
Giuffre tragically passed away in April 2025, and her posthumous memoir is set to release soon. In response to the ongoing controversy and in anticipation of the book’s release, Prince Andrew has confirmed that he will no longer use his Duke of York title or the privileges associated with it. This has led many to question how the 65-year-old will maintain his lifestyle and finances moving forward.
Since stepping down from royal duties in 2019, Prince Andrew has not been eligible for funding from the Sovereign Grant, which is typically used to support royal family members who perform official duties. However, reports suggest that the former prince still has a net worth of approximately $5 million.
How has Prince Andrew managed to accumulate such funds? One source of his wealth comes from his personal business ventures, including the sale of his Sunninghill Park property in 2007, which fetched £15 million. Additionally, for years, Prince Andrew received financial support from Queen Elizabeth’s Privy Purse, reportedly receiving as much as £250,000 annually. However, in 2022, it is believed that King Charles cut off this financial assistance.
Despite no longer receiving funds from the royal purse, Prince Andrew’s living situation remains secure. His residence, the Royal Lodge in Windsor, a Grade II listed home with 30 rooms, is protected by a long-term lease with the Crown Estate that runs until 2078.
As Prince Andrew begins this new chapter of his life, the question remains: how will he navigate his finances and continue to sustain his lifestyle without the royal titles and funding he once enjoyed?
