Prince Andrew appears to be in negotiations to open up his network of international business contacts built during his time as a royal in a move that could reportedly earn him millions.
The Duke of York’s biggest project was called Pitch@Palace and saw him connect British entrepreneurs with useful contacts around the world.
Since then, he has stepped back from public life in disgrace over allegations he had sex with a 17-year-old sex trafficking victim of ‘s. He denies the accusation.
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Mystery has surrounded how Andrew is paying for his Windsor mansion, which attracts a mega annual security bill, after cut off funding last year.
The Daily Mail has now reported Andrew has been working with Waterberg Stirling, an investment vehicle aiming to raise $10 billion, to build connections in China, the Middle East and Africa.
The newspaper also said Andrew met the Chinese ambassador to Britain to ask for help promoting Waterberg Stirling’s investment interests in China.
Chairman Adnan Sawadi denied the company has a financial arrangement with Andrew but confirmed negotiations on opening Andrew’s contacts book to Dutch company Startupbootcamp, which Waterberg Stirling has a stake in.
“Startupbootcamp executives are in negotiations to acquire the former Pitch@Palace network on a territory-by-territory basis, approved by Buckingham Palace,” Sawadi told the Mail.
“However, Waterberg Stirling categorically has no financial or commercial arrangement with the duke.”
A spokesperson for Andrew was quoted saying negotiations were “limited to an interest in taking over the former Pitch@Palace Global network” and discussions were based “not on his royal status but on his former role as the founder of Pitch@Palace.”
Kauan von Novack, chief executive of Startupbootcamp, told The Sun: “Our mission is to help entrepreneurs to create the change the world needs. We see immense value in the network built up by Pitch@Palace.”
Andrew’s senior aide, Dominic Hampshire, sits on Waterberg Stirling’s board. Sawadi, according to the Mail, previously wrote the Chinese ambassador a letter describing the company as a “vehicle for HRH’s [Andrew’s] current and future engagement.”
Sawadi responded to the account, saying: “The Chinese system operates through a top-down approach, and Waterberg Stirling understood that in order to enhance their position, they had to make their ‘sales pitch’ about the duke if they wanted the ambassador to act on their behalf.”
The latest revelations further deepen the mystery of ‘s ties to China after the British government alleged his close confidante Yang Tengbo was a Chinese spy.
Hampshire engaged regularly with Yang on Andrew’s behalf on a regular basis but Yang has since been kicked out of Britain. He denies being a spy.
Williams Brown is chief royal correspondent for Regalrumination.com, based in London. You can find him on X, formerly , at and read his stories on Regalrumination.com’s .
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