Kate Middleton’s life changed significantly when she married Prince William in 2011, having met while studying at the University of St Andrews in Scotland.

Now Princess of Wales and next in line to be Queen, Kate married into a generationally wealthy family whose working members get official expenses covered by proceeds from their vast land holdings, and she and her husband have only gotten wealthier during their marriage.

It’s not possible to determine the exact net worth of a royal, but CelebrityNetWorth pegs Kate’s current net worth at an estimated $10 million. Her husband’s net worth, calculated by the same source, is $100 million—an estimate that doesn’t appear to include a private estate reportedly worth more than $1 billion.

Before she got married, Kate was already relatively well-to-do. Her family inherited a trust fund that in 2014 was worth more than £3 million ($3.7 million), according to the Daily Mail.

When Kate was born, her father, Michael, was a flight dispatcher and her mother, Carole, was a flight attendant. Five years after welcoming Kate, Michael and Carole started a business called “Party Pieces.” The family grew wealthy enough to send their three children to a prestigious private school, Marlborough College, and buy an apartment in London and the family’s home—a manor in Berkshire.

The party business grew into a successful enterprise that was valued at £30 million ($37 million) at the time of the royal wedding, according to the Evening Standard. However, the business reportedly lost more than £1 million ($1.3 million) during the pandemic. Per a statement filed via Companies House, an agency of the British government, Party Pieces Holdings Limited had acquired £2.6 million ($3.2 million) in debt by 2023, leading to the sale of the business.

Before getting married, Kate worked for her parents’ business and as an accessory buyer for the apparel brand Jigsaw.

Kate is now a working royal, which means she spends her time in public engagements as a patron to charities and representative for the country and Crown. She gets her official living, travel, and household expenses covered by what is called the Sovereign Grant.

Each year, the royal family gives profits from its vast holdings under the Crown Estate to the U.K. government, but gets paid back a proportion in the form of the Sovereign Grant. Historically, the proportion was 15%, but that amount was raised to 25% in 2017 for 10 years to cover renovations at Buckingham Palace. However, the government announced it would be cut to 12% starting this year because of new profits from offshore wind farms on the Crown Estate.

In the most recent financial year, the royal family received £86 million ($109 million) from the Sovereign Grant, according to an annual report published in June 2023. That equals out to £1.29 ($1.63) per person in the U.K., according to the royal website. A core grant of £51.8 million ($65 million) funds official travel, property maintenance, and household operating costs.

However, the Sovereign Grant doesn’t cover Kate and other royals’ security costs, which is paid for by the taxpayer, with the cost not disclosed.

Kate and William, along with their three children—George, Charlotte, and Louis—make use of three homes—Kensington Palace in London, Anmer Hall in Norfolk, and Adelaide Cottage on the Windsor Castle estate. The Guardian reported that Anmer Hall was a gift from Queen Elizabeth II, while the couple pays rent on Adelaide Cottage.