Carole and Michael Middleton Have Made Millions Off of Party Planning
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:
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 . However, seven years after they wed, Carole and Michael decided to start their own children's party supplies company called .
"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.
REAL ESTATE INVESTMENTS:
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
According to express.co.uk, Carole and Michael currently live in an $8 million mansion in Bucklebury.
RACEHORSE PRIZE MONEY:
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.
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.
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.
This story originally appeared on Townandcountrymag.com.
* Minor edits have been made by the Townandcountry.ph editors.