Albert II, Prince of Monaco
Prince Albert II is one of the wealthiest royals in the world, with assets valued at more than $1 billion, which include land in Monaco and France. Although Prince Albert does not own the Prince's Palace of Monaco, he does own shares in the "Société des bains de mer de Monaco", which operates Monaco's casino and other entertainment properties in the principality.
Politics of Monaco
Historically, the princes of the ruling House of Grimaldi were autocrats of an absolute monarchy until the first Constitution of Monaco was adopted in 1911. A second constitution was granted by Prince Rainier III on December 17, 1962, outlining legislative, judicial, and executive branches of government, which consist of several administrative offices and a number of councils. The Prince as head of state retains most of the country's governing power; however, the principality's judicial and legislative bodies may operate independently of his control.