It’s a tough time for the family and amid her daughter’s cancer treatment, Kate Middleton’s mom’s net worth is taking a significant hit according to sources. The Princess Of Wales is receiving “preventative chemotherapy” after her planned abdominal surgery in January uncovered an undisclosed kind of cancer.
Carole and her husband Michael are said to be facing serious debt that they are reportedly unable to pay off. According to The Times newspaper, the couple cannot come up with the “£260,000 (over $329,000) insolvency firm costs” for their struggling business, The Party Pieces Company. The company, founded in 1987 by the Middletons, went into administration last June, owing creditors £2.6 million.
According to insiders quoted in Us Weekly, Carole Middleton is trying to protect her daughter from the family’s money woes, with the desire for Catherine to focus solely on getting better. “Carole is desperately trying to keep Catherine fully focused on her recovery,” a source told Us.
“It’s a very worrying time for the family but they are not looking for any assistance from their children and don’t want them to worry.” The source continued: “Catherine and her parents are very close and they always check in with each other, but talk about the business is off limits as she needs to focus on her health.”
Royal commentator Afua Hagan also told Us, “Carole will be doing all she can right now to stop her daughter from stressing as she undergoes chemotherapy. It’s a stressful time at the moment and she will be pulling out all the stops to shield her daughter from this,” Hagan says. “Party Pieces has collapsed and it’s been devastating for the family, but Carole will be most concerned about Kate’s well-being right now.”
Kate Middleton’s mom’s net worth
At the time of Catherine’s wedding to Prince William, Kate Middleton’s mother’s net worth—at least, when it comes to the value of their business—was estimated to be £30 million (approx. $37 million). As of 2024, it was thought the couple had more than £54 million (approx. $64 million) between them, per The Sun. The Middletons have lived in a £5 million ($6.3 million) mansion dubbed the Bucklebury Manor since moving there in 2013.
As the Prince and Princess of Wales, Carole’s son-in-law and daughter, William and Catherine, receive a majority of their income from a private estate called the Duchy of Cornwall, which was established in 1337 to financially support the heir to the throne, according to CNN. The Duchy of Cornwall—which provided the income for Charles and Camilla before they became King and Queen Consort—is funded through the ownership and operation of land in rural and urban areas, as well as islands and rental cottages in Wales, Cornwall and other areas in the United Kingdom.
In 2018, the Duchy of Cornwall made Charles and Camilla $28 million, which is around what William and Kate will make as well. According to CNN, about 50 percent of Charles and Camilla’s annual income was spent on travel and official royal engagements, while a quarter went to taxes. The remaining $8.9 million went to Charles’ children with his late wife Princess Diana—Prince William and Prince Harry—as well as non-official purchases and a royal savings account.
William and Kate’s income also include money from Sovereign Grant, a taxpayer fund paid each year to the British royal family. The Sovereign Grant originated from an agreement made by King George III in 1760, who agreed to surrender his income from Parliament to receive a set annual payment for himself and future generations of the British royal family. The agreement was originally known as the Civil List before it was reworked as the Sovereign Grant in 2012.
Under the agreement, the British royal family receives a grant in exchange for surrendering their profits from the Crown Estate, the family’s collection of lands and holdings worth £14.1 billion, to the government, according to BBC. Each year, the reigning monarch receives 25 percent of the Crown Estate’s profits. The amount pays for property upkeep and utilities, the British royal family’s travel and the royal employee payroll. The grant doesn’t cover security and royal ceremonies, which are funded by other areas.
Kate and William are also senior members of The Firm, also known as the Monarchy PLC, according to Fortune, which is made up of the public faces of the House of Windsor and the royal family members the Queen Elizabeth II—now King Charles—was the head of. The firm operates and a multi-million-pound business empire that boosts the United Kingdom economy through televised events and tourism, according to Fortune. Before her death, the Queen was the head of The Firm.
The other seven members were: Prince Charles; his wife Camilla, Duchess of Cornwall; Prince William; Kate, Duchess of Cambridge; Princess Anne; Prince Edward; and his wife Sophie, Countess of Essex. According to Forbes, the British royal family holds almost $28 billion in real estate as of 2021 that cannot be sold.
