Prince Albert Of Monaco Net Worth: Here's How The Royal Spends His Money

Prince Albert II heads one of the richest countries in the world. But how does his net worth compare to that of his millionaire-subjects?

Born Albert Alexandre Louis Pierre Grimaldi, the 63-year-old royal is the head of state of Monaco, a city-state located in the French Riviera known for its casinos and high-profile events like the Monaco Yacht Show and the Monaco Grand Prix. Around 32% of the roughly 38,000 residents of Monaco are millionaires, Business Insider reported.

A total of 12,261 millionaires live in the tiny country, with the number increasing by 12% between 2013 and 2018, according to the 2019 Knight Frank Wealth Report.

But Prince Albert’s net worth can easily compete with that of the principality’s ultra-wealthy residents. One of the richest royals in the world, he is estimated to be worth $1 billion as of 2020, according to Celebrity Net Worth.

His wealth comes from his real estate portfolio, which includes land in Monaco and France as well as the Philadelphia home of his late mother, actress Grace Kelly, worth $754,000. Prince Albert also owns shares in the Société des Bains de Mer, which manages and owns the Monte Carlo Casino, the Opéra de Monte-Carlo and the Hôtel de Paris in Monte Carlo.

Further, Prince Albert inherited one of the largest car collections in the world from his late father, Prince Rainier III. The late royal was a car enthusiast and built up a collection of 100 classic cars that included rare vehicles and powerful racing models.

Prince Albert auctioned off 38 of the cars in 2012 to "reorganize" the royal fleet and add new pieces, and these models included a 1953 Cadillac, 1950s Bentley S1, 1907 Berliet c2 Double-Phaeton and 1913 Panhard & Levassor X19 Roadster, per News24.

In 2011, he married South African Olympian Charlene Wittstock in a lavish three-day wedding ceremony that reportedly cost $70 million, per Insider.

The event had a number of A-list guests, including model Naomi Campbell and designers Karl Lagerfeld and Giorgio Armani, along with heads of state and royalty like former French President Nicolas Sarkozy and the heir to the Spanish throne. To cap off the festivities, rock band the Eagles entertained the newlywed couple’s guests.

Prince Albert and Princess Charlene are parents to twin children Princess Gabriella and Prince Jacques, now 6 years old. The prince also has two children born out of wedlock, Jazmin Grace Grimaldi and Alexandre Grimaldi-Coste.

Prince Albert, Princess Charlene and their two kids live in the Prince's Palace of Monaco, a 1191 fortress guarded by 98 French military men, according to Business Insider. The royals enjoy the best seats in the house at the Monaco Grand Prix and often take regular ski holidays in Gstaad, Switzerland, the report said.

Monaco’s royal family is also behind several philanthropic causes. They are patrons of the Monte Carlo Gala for the Global Ocean held in September of each year.

They are also heavily engaged in the promotion of arts. The Grimaldis are behind the Monte-Carlo TV Festival, which was founded by his father, Prince Rainier III.

Earlier this month, Prince Albert announced that he has been diagnosed with COVID-19, as per the social media account of the Prince’s Palace of Monaco. According to the statement, the royal will continue working in his residence, and the public should not be alarmed.