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.
Prince's Palace of Monaco
Albert was succeeded in 1922 by his son Louis II. Louis II had been brought up by his mother and stepfather, HSH Prince Tasziló Festetics de Tolna, in Germany, and did not know Monaco at all until he was 11. He had a distant relationship with his father and served in the French Army. While posted abroad, he met his mistress Marie Juliette Louvet, by whom he had a daughter, Charlotte Louise Juliette, born in Algeria in 1898. As Prince of Monaco, Louis II spent much time elsewhere, preferring to live on the family estate of Le Marchais close to Paris. In 1911 Prince Louis had a law passed legitimising his daughter so that she could inherit the throne, in order to prevent its passing to a distant German branch of the family. The law was challenged and developed into what became known as Monaco succession crisis. Finally in 1919 the prince formally adopted his illegitimate daughter Charlotte, who became known as Princess Charlotte, Duchess of Valentinois. Louis II's collection of artefacts belonging to Napoleon I form the foundation of the Napoleon Museum at the palace, which is open to the public.