His shocking net worth and feeling cramped in a palace? Prince Albert
of Monaco gives a new meaning to having a lavish lifestyle!
To lead a truly glamorous life, a monarch needs a spectacular palace. And the location Monaco's
Prince Albert II has called home his entire life more than fits the bill. Besides the state
apartments inhabited by the royal family, all featuring marble floors and valuable artwork,
it contains several towers, a chapel, and many galleries. The exterior is guarded by
uniformed sentries and cannons. In addition, of course, it contains a
throne room featuring ceiling frescoes and an Empire-style throne under a red silk canopy.
The Prince's Palace also comes with a long and evocative history. It wasn't originally a palace,
or even built for the principality of Monaco. Instead, it began its life in
1215 as a fortress for the Republic of Genoa. According to legend, this changed in 1297,
when Francesco Grimaldi, an ancestor of Prince Albert II, disguised himself as a monk to gain
entry into the fortress, claiming to need a place to stay for the night.
He used this ruse to let in his soldiers and give Monaco control of the fortress. Historians
dispute this story, but the fact remains that the Grimaldi family rose to take leadership
of Monaco — and the fortress — around the end of the 13th century. In the centuries to come,
the family gradually converted the fortress into the palace it is today.
In 2015, Prince Albert II and his staffers got a major surprise. Routine maintenance
and restoration work being done on the palace revealed an extensive series of 16th-century
frescoes that had been painted over for unknown reasons. Prince Albert II immediately set a crew
of restoration experts to work to uncover and restore the frescoes — which depicted the 12
labors of Hercules and other mythological themes. Prince Albert II directed the crew
to use environmentally-friendly colors and materials in the restoration as it
was a project with personal resonance for him. In a video on the palace's website, he said,
"It is an added bonus in terms of links to my ancestors. I consider it part of
my responsibility as a custodian of this history and heritage."
Prince Albert II's lifelong home, the Prince's Palace in Monaco,
is a grand structure by almost any standards. Originally built as a fort in the 12th century,
it was gradually remodeled and embellished over the centuries,
becoming a palace in the Italian Renaissance style in the 1500s and adopting architectural
influences from French royal architecture in the 17th and 18th centuries. During this time, it
also housed extensive art collections, and today it's home to the principality's archives, which
include historic documents related to the former fiefdoms that now comprise Monaco's territory.
While the palace is so spacious that the stream of tourists passing through doesn't interfere
with royal activities or privacy, it's also filled with lots of old stuff. And because
the palace is currently undergoing extensive renovations, meaning there's less room to move
around or put stuff than usual, Prince Albert II found himself with an unusual problem. On
the eve of his 65th birthday, he worried aloud about getting too many gifts, telling People,
"People think this palace is big,
but our storage is full. I'm serious...I don't know where to put things anymore."
Many little kids look forward to birthday trips to the zoo or circus. But as a small child,
Prince Albert II of Monaco did not have to beg his parents to take him to the
zoo — because the Prince's Palace in Monaco already had a working zoo on its grounds.
The zoo, built by his father, Prince Rainier III, in 1954, four years before Prince Albert II was
born, is modest in size compared to most big-city zoos. It houses around 300 animals of 60 different
species, including hippopotamuses, caimans, and lemurs. Many of these animals are rescues,
either abandoned by previous owners or intercepted from illegal smuggling efforts.
Pressure from animal rights advocates, however, moved Prince Albert II, who has had a long
interest in conservation and nature appreciation, to cede its two leopards to the animal welfare
group Born Free, which re-homed them in a wildlife reserve in Africa. Wanting to help
future generations cultivate a love for animals and nature, Prince Albert II has expressed an
interest in turning the zoo into more of a petting zoo so kids could enjoy the animals up close.
"Welcome! Come on, come on, we're open!"
With his family's wealth and power, Prince Albert II had every opportunity to obtain
a world-class education. He also had every opportunity to skate through
with gentleman's Cs, since it didn't really matter what his grades were. But to his credit,
he didn't choose the easy way out. He graduated with distinction from Lycée
Albert 1er before pursuing his undergraduate studies at Amherst College in Massachusetts.
A small, private liberal arts college with a student body of about 1,900, Amherst is
one of the most selective colleges in the U.S., admitting only 11% of those who apply. It's also
quite expensive, with a sticker price of $76,800 per year. Prince Albert II was in the fortunate
position of not having to worry about any of this, and instead threw himself into school activities,
joining and performing with the school's glee club and participating in numerous
varsity and club sports before graduating with a degree in political science. And he credits
his time at Amherst for some of his success. In an interview with The Amherst Student, he said,
"My education has taught me to think on my feet and to think outside of the box. This
is incredibly necessary in our day and age for any position of responsibility no matter what
you do in life — but especially if you're in a position of responsibility like I am."
As a wealthy royal, Prince Albert II has the means and opportunity to travel around the world — and
he's taken plentiful advantage of these opportunities, traveling to multiple nations,
including Italy, Great Britain, Japan, Russia, and China. But his jet-setting
hasn't all been about red carpet receptions. He's also made trips way off the beaten path,
including expeditions to the North Pole via dogsled from a Russian base and Antarctica.
These trips, however, weren't just for the amusement of a jaded royal. His 2006 trip
to the North Pole was intended to both honor the legacy of his great-grandfather, Prince Albert I,
an accomplished oceanographer and arctic explorer, and raise awareness of climate change and its
potential consequences. His three-week-long trip to Antarctica in 2009 was likewise
planned to give him a better understanding of climate change, and he spent much of his time
during the trip familiarizing himself with the scientific research being done on the continent.
While there, he and explorer Mike Horn also made a film of their travels, "Antarctica 2009,
Earth on Alert," which Prince Albert II later presented to the residents of Monaco.
The tiny city-state of Monaco is nearly synonymous with wealth. Besides the
glitzy casino scene at Monte Carlo, known to attract high-rollers from around the world,
it's also gained a reputation as a tax haven for the wealthy, who flock there
to enjoy its mild Mediterranean climate and shimmering nightlife all while squirreling
away their money. Indeed, nearly a third of Monaco's 38,000 residents are millionaires.
If these high-flyers want a monarch they can personally relate to,
they have one in Prince Albert II. His own wealth is estimated to be around $1 billion,
making him one of the richest monarchs in the world. This wealth comes from a variety
of sources, including land and numerous properties in Monaco, France, and the U.S.
Additional wealth comes from his shares in the Société des Bains de Mer,
the holding company that owns and operates some of Monaco's flagship attractions,
including the Monte Carlo Casino, the Monte Carlo Opera House,
and the Hotel de Paris in Monte Carlo. In addition, Prince Albert II inherited,
and later revamped, the extensive collection of rare cars acquired by his late father,
Prince Rainier III. He also invested some of his considerable wealth in philanthropic initiatives.
His foundation, the Prince Albert II of Monaco Foundation, invested nearly $99
million over a 15-year period in projects related to promoting renewable energy and biodiversity,
mitigating the effects of climate change, and protecting water resources.
Prince Albert II made it abundantly clear he was in no hurry to settle down. His romances with
high-profile women, including supermodel Claudia Schiffer, along with clandestine romances in which
he fathered two children, gave him a well-deserved reputation for playing the field. Therefore,
when he finally announced in 2010 that he was getting married to South African
Olympic swimmer Charlene Wittstock, it was a very big deal in Monaco. Not only would
it be the first time in over 30 years that a reigning European monarch had married while on
the throne, but it would be the biggest celebration Monaco had seen in decades.
No expense was spared in the lavish, three-day celebration, which was said to cost around $70
million. The festivities started with a civil wedding ceremony in the Throne Room of the
Prince's Palace. An outdoor religious wedding ceremony followed the next day, and the glamor
level was turned up several notches. The bride wore a beaded gown designed by Giorgio Armani,
and in attendance was a cast of other royals, including Belgium's King Albert
II and Queen Paola, as well as Sweden's King Carl XVI Gustaf and Queen Silvia.
But all the glitz couldn't hide the swirling
rumors that soon-to-be Princess Charlene was getting cold feet and had even booked
a one-way ticket back to South Africa. And the fact that she was seen crying several
times during the wedding festivities only further fueled public speculation.
"I am African. This is my home. It will always be, it's in my, it's in my heart, it's in my veins."
For most of us, the lives and problems of royals aren't terribly relatable. But
glamorous as their lives can be, the high level of public scrutiny they must endure,
along with social pressure to keep up a polished image no matter what,
can be difficult to handle. In 2021, Prince Albert II's wife, Princess Charlene, became
so exhausted she left Monaco for six months to recuperate at an undisclosed treatment facility.
But one group of people can relate to these challenges: other royals. They not only meet
each other routinely as part of their diplomatic duties, but can sympathize with and understand
each other's burdens. Prince Albert II, for instance, has had a lifelong friendship with
King Charles III, and the two have bonded over both their similar life trajectories and common
interest in environmental and cultural issues. Prince Albert II told People,
"I admire his fight for several great battles. For the improvement
of architecture. For energy sustainability, against deforestation and on a number of
environmental issues. These are concerns on which we've frequently exchanged views."
Like many royals, Prince Albert II has the clout to easily access other A-listers,
and many have been spotted in his circle. Attending his 2011 wedding to Charlene
Wittstock were supermodel Naomi Campbell, designers Giorgio Armani and Karl Lagerfeld,
and former French President Nicholas Sarkozy. To top off the evening, the Eagles — a legendary
band accustomed to performing to packed stadiums — provided musical entertainment at the reception.
But his appearances with other famous faces are not just about seeing and being seen. Prince
Albert's friendship with actor Leonardo DiCaprio, like his friendship with King Charles III,
is based in part on their common passion for conservation and environmental causes.
"And what we do now will impact what the future generations will inherit from us."
Along with their individual efforts to advocate for the environment, they've made numerous public
appearances together at everything from climate change marches to white tie galas, using their
combined star power to raise public awareness of the dangers posed by climate change and pollution.