Fictitious executives were told Prince Michael of Kent could be hired to endorse their company to Vladimir Putin's inner circle, a bombshell report claims. Prince Michael, a grandson of King George V, allegedly said he would give the 'House of Haedong' his endorsement in the Kremlin for a $200,000 fee. There are few rules that dictate how a royal can earn private income, and Prince Michael does not receive any money from the civil list. In a statement, Prince Michael said: 'Prince Michael receives no public funding and earns his own living through a consultancy company that he has run for over 40 years. 'They last met in June 2003 and Prince Michael has had no contact with him or his office since then.