Reports state that the settlement could ring in at about $16 million.
Advertisement
Queen Elizabeth Prince Andrew
Credit: Photo by Mark Cuthbert/UK Press via Getty Images

After news broke of Prince Andrew settling his lawsuit with Virginia Giuffre, many wondered exactly where he would get the money — and whether or not taxpayers would be footing the bill. The Telegraph reports that the total amount could be "upwards of $16 million" (or £12 million), but also posits that the money wouldn't be coming from public funds.

Instead, any money that Queen Elizabeth offers up on behalf of her son would be pulled from the "private Duchy of Lancaster estate." The estate is described as a "unique portfolio of land, property, and assets held in trust for the Sovereign." As of March 2021, the Duchy of Lancaster had £577.3 million under its control.

People notes that the royal family, in keeping with their usual stiff upper lip tactics, didn't offer any information on the matter, saying that they "have never commented on the financial aspects of the Duke's private legal affairs and won't be now." The Telegraph notes that Elizabeth has already "privately funded the Duke's legal fight," which has amounted to "millions of pounds."

A statement filed with the New York court outlined more details, but didn't offer financial specifics: "Virginia Giuffre and Prince Andrew have reached an out of court settlement."

After the news broke, Andrew pledged to "demonstrate his regret" for any association with Epstein. Part of the settlement included a donation to "fight against the evils of sex trafficking, and by supporting its victims."

"Prince Andrew has never intended to malign Ms. Giuffre's character, and he accepts that she has suffered both as an established victim of abuse and as a result of unfair public attacks," a statement from his legal team reads. "It is known that Jeffrey Epstein trafficked countless young girls over many years. Prince Andrew regrets his association with Epstein, and commends the bravery of Ms. Giuffre and other survivors in standing up for themselves and others."