The Queen is 'likely' to pay for at least some of Prince Andrew's settlement to Virginia Giuffre, according to a royal expert.
- The Queen will 'likely' contribute to Prince Andrew's settlement with Virginia Giuffre, according to royal experts.
- Her Majesty is expected to use her personal assets to cover the costs of the financial agreement, which is said to be worth about £10m.
- In other royal news, Queen's big change at Sandringham—HRH announces gift for her loyal subjects.
The Queen is 'likely' to contribute to the Duke of York's settlement to Virginia Giuffre, a royal expert has claimed.
Prince Andrew's sex abuse case was settled out of court on Monday after the disgraced royal agreed to pay his accuser an undisclosed sum and make a 'substantial donation' to her charity.
In 2019, the Duke, 61, was accused by Giuffre, one of the most prominent survivors of Jeffrey Epstein's crimes, of sexually assaulting her when she was 17. He vehemently denied the allegations, claiming he has 'no recollection of ever meeting' the Australian-American woman.
In 2021, his appeal to have Giuffre's case dismissed was rejected by a US judge. This development opened him to the possibility of facing a civil trial in New York in fall 2022, just a few months after the Queen's Platinum Jubilee celebrations.
However, in a statement released yesterday, Giuffre's lawyer announced that the case had finally come to a close.
“Virginia Giuffre and Prince Andrew have reached an out-of-court settlement. The parties will file a stipulated dismissal upon Ms Giuffre’s receipt of the settlement (the sum of which is not being disclosed)."
“Prince Andrew intends to make a substantial donation to Ms Giuffre’s charity in support of victims’ rights."
The statement also said that the Duke expresses regret for his 'association' with Epstein, acknowledging that the convicted sex offender had 'trafficked countless young girls over many years'. He denies any intent to 'malign Ms Giuffre's character' and 'accepts that she has suffered both as an established victim of abuse and as a result of unfair public attacks.'
Royal fans are now eager to know the details of the settlement, with many wondering how much it is and, perhaps more importantly, who will pay for it.
According to royal author David McClure, the Queen is the most probable candidate to lend Prince Andrew a hand. With the settlement estimated to be worth about £10m, it's unlikely that the Duke will be able to cover the costs entirely himself.
"He [Andrew] doesn't have lots of money," he explained. "So where does the money come from? I think more than likely the Queen.”
McClure added that Her Majesty would "more than likely" secure this money from the Duchy of Lancaster.
The private estate, which was estimated to be worth about £534 million in 2018, has been a significant source of income for the Queen since she became the British sovereign in 1952. The Duchy consists of 45,700 acres of rural land, most of which can be found in England's northern parts. It also includes office, retail, and restaurant space on London's famous Strand, just a stone's throw from the Royal Family's HQ residence of Buckingham Palace.
Where does Prince Andrew get his money from?
While Prince Andrew could never be described as poor, he's unlikely to be as well-off as some people might think. Until 2019, the Duke of York reportedly received money from the Sovereign Grant, which is given to the Queen annually to fund the royals' security, staff, and travel. The value of this stipend, however, remains unknown.
Andrew's lifestyle was also funded by the Duchy of Lancaster, which made £21.7 million in income for the Queen in 2019. His third, and likely smallest, source of capital comes from his Royal Navy pension. The former British Naval Officer receives an estimated £20,000 a year for his service in the armed forces, which ended back in 2001.
Emma is a news writer for woman&home and My Imperfect Life. She covers the Royal Family and the entertainment world, as well as the occasional health or lifestyle story. When she's not reporting on the British monarchy and A-list celebs, you can find her whipping up vegan treats and running the roads to cheesy '90s pop music...but not at the same time, obviously.
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