While Kate Middleton is the wife of the heir to the throne and the mother of the future King, she did not grow up as wealthy as the members of the Royal Family.
Catherine, Princess of Wales, comes from a middle-class family, where each penny was earned through hard work.
The Princess of Wales‘s mother, Carole Middleton, worked as a stewardess, while her father, Michael Middleton, was a flight dispatcher.
The pair eventually launched a party supply business that brought them great fortune. However, a few months ago, Carole and Michael Middleton were financially struggling after the balloons of their party business burst.
Many were baffled that King Charles III and Prince William, who have net worths nearing billions of dollars, did not intervene to help the Middleton family.
Catherine, Princess of Wales, has been struck with another piece of not-so-happy financial news.
The massive annual salary that she was supposed to receive when Prince William became King has been erased, and it seems that King Charles is powerless in this situation.
It has been confirmed that Queen Camilla will not receive the annual sum of $470,000 from the British government.
The massive amount goes to the spouse or consort of the reigning Monarch as funding for his or her official duties.
During Queen Elizabeth II‘s 70-year reign, her husband, Prince Phillip, received almost $32 million from the UK parliament.
Via Page Six, The Telegraph reports that The National Audit Office (NAO) has revealed that King Charles’s wife will not be receiving an annuity.
The media outlet explained: “The Royal Family’s funding and budget were recently reviewed by the UK’s independent public spending watchdog in a desperate bid to improve transparency.”
It added: “Parliament provided Prince Philip with a separate annuity worth $470,000 (£359,000) per annum. Queen Camilla will not receive a separate annuity, and the Queen’s activities will be funded from the Grant.”
Prince Phillip continued to receive the sum up until his death, even though major changes had been made in the manner that the Royal Family calculated how to pay for royal engagements.
The Sovereign Grant is expected to cover all expenses for King Charles and Queen Camilla.
Some royal observers say that for the royals who were born into great fortune and fame, $470,000 might not represent much, but for Kate Middleton, it is a large sum that would help her be financially independent.
It would also benefit her family’s situation and status.
