Prince Andrew is “in despair” because the King has not shared out their mother’s fortune, according to reports.

His Majesty was the sole beneficiary of the Queen’s estate, worth more than £650million, under a 1993 agreement meaning no inheritance tax was owed.

A friend of the Duke of York told the Mail on Sunday: "What’s he meant to do? Go cap in hand to his older brother to keep a roof over his head? It’s a disaster."

But a Buckingham Palace source said: "Her late Majesty supported her children during her lifetime and had made provision for them already."

Andrew’s siblings Princess Anne, 72, and Prince Edward, 59, are said to share "some resentment" at inheriting nothing from the Queen.

However, as working royals both receive handouts from the Sovereign Grant to cover costs.

It follows reports that Andrew has been approached by two American broadcasters with offers to take part in a new, tell-all interview in the United Kingdom.

The disgraced Duke of York is allegedly considering "telling his side" in the hope of a chance of redemption, more than three years after his interview with Emily Maitlis about his ties to convicted paedophile Jeffrey Epstein was broadcast on the BBC’s Newsnight.

The duke was accused of sexually assaulting Virginia Guiffre, one of Epstein’s victims, when she was underage in the US. He has consistently and vehemently denied the accusations.

Andrew was stripped of his military titles and asked to step down as a working royal last year, after he paid Ms Guiffre a multimillion-pound settlement to stop the case going to court.

Earlier this month, it was reported that Andrew was "resisting" King Charles’s suggestion that he move out of the 30-room Royal Lodge and into Frogmore Cottage, where the Duke and Duchess of Sussex used to reside.

Andrew has lived in the property in Windsor Park with his ex-wife Sarah Ferguson since 2004.