The buyer of Prince Andrew's Swiss chalet has been revealed as a British financier.
Philip Muelder, a millionaire executive who lives in London with his family paid “on or near” the £20 million asking price for the seven-bedroom property in Verbier.
Mr Muelder, 48, is believed to have bought the traditional Alpine ski chalet as a holiday home.
A source says he has “absolutely no connection whatsoever” to Prince Andrew and added that as soon as Chalet Helora arrived on the market there was “lots of interest in it”.
Mr Muelder works at a top London investment firm and lives in a large property in West London.
The Mirror reported yesterday how the prince had managed to sell the chalet for around £19 million after more than a year of complications over 'business debt', reports. claimed
The chalet in Switzerland was bought after a year of wrangling over a "business debt" of £1.6 million.
There had been speculation surrounding the identity of the new owner since the sale was confirmed earlier this year.
It ends years of legal wrangling and a humiliating financial sage for Prince Andrew.
He bought the chalet with his ex-wife Sarah Ferguson in 2014 from their then-friend Isabelle de Rouvre.
They took out a mortgage for the bulk of the cost and agreed to pay the French socialite the remaining £5 million plus interest in instalments.
But by 2019 it became apparent that Prince Andrew was struggling to pay and Ms de Rouvre took legal action to try and recoup her millions.
She has spoken of the deep stress this caused and revealed she was still owed £6.8m but agreed to a payment of £3.4 million to settle the dispute because she believed the couple were short of money.
But in August it emerged that Ferguson bought a £5 million property in London’s exclusive Mayfair.
Chalet Helora boasts a swimming pool and a sun-terrace commanding spectacular views of the Swiss Alps.
A woman who lives not far from the chalet said: “It will be nice to have new neighbours at last.
"All the saga with Prince Andrew was unsavoury. It will be good to have a low-profile family rather than someone attracting all the photographers which hang around outside when the royals are there.”
Mr Muelder, a keen skier, is a high-flyer in the Square Mile but is described by friends as a family-man who does not court publicity.
With an MBA from Harvard Business School, the financier is Head of Services at Permira, a £45 billion private equity firm.
His family regularly visits Ibiza where he chairs a conservation charity.
Ibiza Preservation’s website states: “Philip has long standing roots in Ibiza ever since his grandmother bought a plot of land on the island in the late ‘60s,
“He spent many summers at his family’s vacation home in Cala Mastella, in the North East of Ibiza, and remained a frequent visitor to the island ever since.
“Philip lives in London … and is a partner at Permira, a global private equity firm.”
The Duke was forced to sell Chalet Helora after racking up enormous legal bills during a sexual assault case.
Virginia Giuffre, a victim of paedophile Jeffrey Epstein, alleged the Duke abused her on three occasions when she was a teenager.
He has repeatedly and vehemently denied the claims and settled out of court with Ms Giuffre for an undisclosed sum but made no admission of guilt.
The Duke’s efforts to sell the chalet were frustrated after a freezing order was slapped on the property two years ago.
The order was related to a legal battle with an unidentified Swiss couple over an alleged £1.6million “business debt”.
