Carole, Michael & James Middleton
Millions in debt and loss-making businesses! Kate’s family struggles with business problems
James, Michael, Carole and Pippa Middleton
© Ben Stansall / Getty Images
You walk in the shadow of the British crown – but not everything that glitters is gold. The proximity to the royal family is no guarantee for private business success for the Middleton family. The parents and also the brother of the Princess of Wales are currently experiencing severe economic setbacks.
It was only in May 2023 that Carole Middleton, 68, had to bite the bullet and sell her family business “Party Pieces” 36 years after it was founded at the kitchen table at home. The corona pandemic had apparently stumbled the company for holiday accessories so badly that an economic recovery was no longer conceivable. But another family member of Catherine, Princess of Wales, 41, is also said to not have a good hand for his business at the moment. James Middleton, 36, is also said to be making losses with his heart company “Ella & Co”.
Carole, Michael and James Middleton know business setbacks
While Carole and Michael Middleton, 74, have already pulled the ripcord in the face of £2.6million (around €3million) in debt, leaving some small business owners out in the cold financially, their son is apparently still calm. His pet food business is now the fifth that he has launched so far. But what once started out promising now seems to encourage worry lines as well. According to “Evening Standard”, the company assets of “Ella & Co” are only 92,510 pounds (approx. 107,000 euros). In the previous year it was still 334,591 pounds (about 388,000 euros).
But James is said to be relaxed. In recent years he has touched many entrepreneurial irons – and burned himself occasionally. However, that didn’t stop him from wanting to start again and again. According to friends, one heard reports that the youngest Middleton offspring had always wanted a second one Richard Branson, 73, the exceptional British entrepreneur. A touch of overconfidence, one might assume in view of the previous track record of the dog lover with close ties to the royal family.
It wasn’t until 2022 that he had to sell Boomf, a business selling personalized marshmallows. Losses are said to have totaled almost £2million (€2.3million) at the time. The husband of his sister Pippa Middleton, 39, had the former British professional racing driver and hedge fund manager James Matthews47, and another investor added a lot.
“He has a hard time sticking with something”
James had a passion for entrepreneurship from an early age. After dropping out of college in Edinburgh, he founded the Cake Kit Company in 2007. “Nice Cakes and Nice Wine” followed just a few years later. In 2015 he applied for the two companies to be removed from the official register of Companies House. At that time, only 20 pounds (currently 23.20 euros) were said to have been deposited in the account of his first company. “He has a lot of great ideas, but he’s less practical when it comes to bringing those ideas to fruition, which is partly due to his ADD [Abkürzung für “attention deficit disorder”; zu Deutsch: Aufmerksamkeitsdefizitstörung (ADS)] “He’s having a hard time sticking with something.”
“Ella & Co.” Meanwhile, James does not want to give up as lost. He recently announced a rebranding on his Instagram channel. “James & Ella” is now the name of the company that he once named after his spaniel bitch Ella, who helped him through the most difficult phases of his depression and even helped him with his wife Alizee Thevenet should have paired up. The beloved pet passed away in early 2023, but he’s sticking to her spirit with the new name for his business. “I’ve thought about how much for a long time [Ella] changed my life,” he explains. “With James & Ella, I will be continuing the legacy of the most incredible dog I have ever had the privilege of taking care of, and I have a lot of exciting news to share later this year.”
And his environment is also confident this time: “I wouldn’t be so hasty to dismiss him or the business,” said an insider. “And let’s not forget that he has some impressive investors on board.” Pippa’s husband James is once again on board this time, as well as insurance and real estate entrepreneur Raja Balasuriya.
Pippa Middleton has a golden touch
Meanwhile, Pippa doesn’t have to worry about her future. Marrying James in 2017 has made her a very well off woman. The investment banker’s net worth will be estimated at over 2 billion pounds (2.3 billion euros). No uncomfortable cushion. However, Kate’s younger sister is not idle.
Pippa and James Matthews have a fortunate knack for finance and entrepreneurship.
© David M. Benett / Getty Images
Since last year, she has lived with her husband and their three children in a sprawling 30-room estate in Berkshire, just minutes from her parents. The small family also owns Bucklebury Farm Park, which has 77 hectares of land with a petting zoo, café and accommodation for about 30 people. Next, the Matthews want to offer glamping cabins there and open a new restaurant. Pippa also draws for products responsible for the Bucklebury Gift and Farm Shop, including jute bags, toys and cookbooks. Mama Carole is said to have been involved in founding the company and promoted the idea for an online shop.
In short: the Middletons all seem to have an entrepreneurial streak. But setbacks are part of the game, and even those close to the British royal family are not immune to them.
Sources used: standard.co.uk, instagram.com