Kate Middleton’s parents are self-made millionaires. Here’s how they earned their living.
Kate Middleton solidified her financial status when she married Prince William in 2011, but the Duchess of Cambridge was already well off thanks to her parents.
Self-made millionaires Carole and Michael Middleton have a combined net worth of over $67 million due to a business the couple formed in 1987 called Party Pieces, and a few smart investments, according to KnownNetWorth.com. Here is a breakdown of how The Middletons earned their wealth.
The family business:
Party Pieces
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According to Hello! magazine, The Middletons met when they were both working at British Airways—Carole was a flight attendant and Michael was a flight dispatcher. They married in 1980 at the Church of St. James in Dorney, Buckinghamshire. However, seven years after they wed, Carole and Michael decided to start their own children’s party supplies company called Party Pieces.It’s been an annus horribilis for birthday girl Carole Middleton, writes CLAUDIA JOSEPH. Her business collapsed and the family was targeted with abuse. But today all thoughts will be on the health
“In January 1987, when I was 6 months pregnant, I decided to take myself off to the Spring Fair in Birmingham where I found a good selection of suppliers,” Carole wrote on the company’s website. “From there the idea evolved. I produced a little flyer which I circulated in local playgroups and very soon I was using our garden shed as a picking/packing room and office.”
Hello! reports that Party Pieces is worth about $40 million and is the couple’s main source of income.Kate Middleton : sa mère Carole est furieuse à cause d’un membre de la famille : Le diaporama – Purepeople
Real estate investments:
Carole and Michael Middleton Estate
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When the Middleton children were growing up, the family lived in a house in Vernham Dean that was worth approximately $540,000, The Telegraph reports.
In 2002, the Middleton family purchased an apartment in Chelsea, London that Kate, James, and Pippa, all lived in. Public records showed that the property’s worth increased to about $1.6 million by 2011, and there was no mortgage on it.
In 2005, Carole and Michael invested in even more real estate, including a string of properties in Bucklebury, Berkshire. One of the houses was worth about $1.3 million, which was reportedly bought in cash. They also own separate commercial buildings worth about $1.75 million.
According to express.co.uk, Carole and Michael currently live in an $8 million mansion in Bucklebury.
Racehorse prize money:
Carole and Michael Middleton
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According to the personal finance website lovemoney.com, the Middletons own stakes in racehorse shares, including those for horses Blue Java and Sohraab. The racehorses have reportedly earned the Middletons hundreds of thousands of pounds in prize money.
Inheritance:
Carole and Michael Middleton
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In 2011, The Daily Telegraph reported that Peter Middleton, Michael’s father, left his family an estate worth over $800,000. After his death in 2010, Peter split his wealth between his four sons, Richard, Michael, Simon, and Nicholas, giving them each a share of about $130,000 after debts were paid off.
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Captain Peter Middleton earned his living as a pilot, and he reportedly flew alongside Prince Philip once in 1962. The Middletons may not have been in the position they’re in today without an inheritance from Michael’s side of the family.
