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
By the time of Charles III's death in 1889, Monaco and Monte Carlo were synonymous as one and the same place, and had acquired, through gambling, a reputation as a louche and decadent playground of the rich. It attracted everyone from Russian grand dukes and railway magnates, often with their mistresses, to adventurers, causing the small country to be derided by many including Queen Victoria. In fact so decadent was Monaco considered that from 1882, when she first began visiting the French Riviera, Queen Victoria refused to make a courtesy social call at the palace. The contemporary writer Sabine Baring-Gould described the habituées of Monaco as "the moral cesspool of Europe."