Prince Bernhard sells entire business portfolio, exits real estate to pursue AI ventures
Prince Bernhard of Orange has sold all of his business interests, including his stakes in Circuit Zandvoort, Media Park in Hilversum, and the IT company Levi9. He also sold all of his private and commercial real estate holdings, according to a statement from his spokesperson.
The assets have been sold to his business partners, Menno de Jong and Coen Groeneveld. According to Het Parool, no financial details were disclosed.
The sale marks Prince Bernhard's complete exit from the real estate sector. According to the statement, he will now focus on new business ventures in artificial intelligence while remaining active in motorsports.
"My mission has been accomplished," Bernhard said. "We brought Formula One back to the Netherlands, and Zandvoort spent six editions on the world stage. It does not get any better than that, and that is exactly when you have to make a choice. I am transferring my interests to the partners with whom I built this."
Bernhard bought Circuit Zandvoort in 2016 and played a key role in bringing Formula One back to the Netherlands in 2021 for the first time since 1985. This year's Dutch Grand Prix will be the race's final edition.
"The world is changing faster than ever with artificial intelligence and new technologies," he said. "That is exactly the phase in which I most enjoy working: developing new ideas, building companies, and creating something with other entrepreneurs that does not yet exist."
The 56-year-old prince came under scrutiny after it emerged that he owned hundreds of properties in Amsterdam and elsewhere in the Netherlands, making him one of the country's largest real estate owners.
An investigation by Het Parool found that Bernhard and his business partners violated Amsterdam's rental rules by charging high rents and renting homes to large groups without the required permits.
The controversy earned him the nickname "property prince." The book Zakenprins, which examines his business career, said he became a symbol of the Dutch housing crisis, with critics arguing that his property business contributed to rising housing costs for lower-income residents in Amsterdam.
Bernhard first appeared in the Quote 500 list of the Netherlands' wealthiest people in 2022. The magazine estimated that much of his wealth came from his real estate investments and his software company, Levi9.
