Prince Bernhard cashes out of real estate to go into AI

Prince Bernhard has sold his entire business portfolio, including his stake in the Zandvoort motor racing circuit, and will now focus on AI.

The first cousin of king Willem-Alexander told Dutch press agency ANP that he was selling his interest in Media Park in Hilversum, IT company Levi9, and his extensive real estate portfolio to his business partners.

“The world is changing faster than ever. New technologies, artificial intelligence, and major societal changes are creating opportunities that we could hardly have imagined ten years ago,” he said.

The 56-year-old did not disclose the amount of the sale, but business magazine Quote has estimated his net worth at around €160 million.

Bernhard’s large real estate holdings – 98 buildings according to Quote – have earned him the nickname pandjesprins, or the property prince.

In 2017, an investigation by Amsterdam newspaper Het Parool found that Bernhard’s companies engaged in practices that violated Amsterdam’s housing regulations.

Earlier this year, Bernhard announced he and his wife, Princess Annette, were separating after 25 years of marriage.

The prince bought the Zandvoort circuit 10 years ago with the aim of bringing Formula 1 back to the Netherlands. F1 racing returned to Zandvoort in 2021 after a 36-year absence, after the scheduled 2020 race was cancelled because of the coronavirus pandemic.

The final edition of the Dutch Grand Prix will be held later this year. Organisers announced in 2024 that they wouldn’t continue beyond the current contract because the costs were too high.