Prince Albert II Net Worth

What Is Prince Albert II's Net Worth?

Prince Albert Alexandre Louis Pierre Grimaldi is the reigning monarch of the Principality of Monaco. Prince Albert has a net worth of $1 billion. Albert is one of the wealthiest members of royalty in the world. He owns land in Monaco and France, including the land that operates Monaco's famous casino, Monte Carlo Casino, and other entertainment properties.

Albert II was born in Prince's Palace, Monaco-Ville, Monaco, in March 1958. He is the son of American actress Grace Kelly and Rainier III, Prince of Monaco. He attended Amherst College in Massachusetts in 1977. The Prince competed in the bobsled for Monaco at several Winter Olympics and refused any special treatment. Since 1985, he has been a member of the International Olympic Committee. He received the Eagle Award from the United States Sports Academy in 1996. When his father became critically ill, Prince Albert became the Hereditary Prince. In April 2005, Prince Rainier III passed away, and Albert II became Prince.

He has a reputation as a bit of a playboy. He has fathered two children out of wedlock. He has been married to South African swimmer Charlene Whittstock since 2011. He is very involved in environmental issues relevant to the Mediterranean.

Early Life

Albert II was born on March 14, 1958, at the Prince's Palace of Monaco. He is the son of Prince Rainier III and Princess Grace. He was their second child and only son, making him heir apparent to the throne when he was born. Albert was a dual citizen of both the Principality of Monaco and the United States of America by birth. He renounced his American citizenship early in his adulthood. Albert attended the Lycée Albert Premier and graduated with distinction in 1976. He was also a camper and later a counselor for six summers at Camp Tecumseh on Lake Winnipesaukee in New Hampshire during the 1970s. He spent a year training in princely duties before enrolling at Amherst College. He joined the Chi Psi Fraternity and graduated in 1981 with his B.A. in political science. He then trained on board the French Navy's helicopter carrier Jeanne d'Arc and earned the rank of Ship-of-the-Line Ensign (2^nd class). He later took classes with a number of financial institutions, like J.P. Morgan & Co., and traveled around the United States and Europe to study financial management and communication.

Career

On March 31, 2005, it was announced that Albert would take over his father's duties as regent, as his father was no longer able to perform his princely duties due to illness. On April 6, 2005, his father died, and Albert officially succeeded him as Albert II.

In the early years of his reign, Prince Albert oversaw multiple judicial and legal reforms in Monaco. He regulated custody, created greater protections of privacy in the face of technological growth, and established greater freedom of the press. He also helped pass laws to ensure gender equality, the protection of children's rights, and the rights of disabled students.

In the years since, Albert has focused on the construction of various community facilities. These include social housing, railways, educational facilities for the hospitality industry, and more secondary education facilities. He has also focused on promoting more ethical economic activity and the adoption of systems to combat money laundering and organized crime. He also introduced tax fraud into the criminal code of Monaco.

In 2006, he created the Prince Albert II of Monaco Foundation. The foundation's aim is to support sustainable and ethical projects around the world with a primary focus on climate change, renewable energy development, combating the loss of biodiversity, and improving universal access to clean water.

Albert has also focused heavily on charity work. He is the vice-chairman of the Princess Grace Foundation, an American charity founded in 1982 that supports art, theatre, dance, and film. He also holds patronages with AS Monaco, the World Olympians Association, the Monte-Carlo Rolex Masters, the Peace and Sport Organization, and the Junior Chamber International.

Additionally, Albert has devoted much of his time to combating climate change and advocating for the environment. He has been heavily involved with the United Nations Environment Programme. In 2009, he left for a month-long expedition to Antarctica, where he visited many scientific outposts and met with a number of climate change experts to better understand the impact of global warming. He has also authored articles about the dangers of overfishing and ocean conservation. He has supported the preliminary draft of the Global Pact for the Environment that was presented by France to the United Nations General Assembly in 2017. In 2021, he collaborated with a number of artists and activists to create the film "Alick and Albert," a documentary about the future of the oceans.

Personal Life

In 2000, Prince Albert met South African swimmer Charlene Wittstock at a swim meet in Monaco. They began dating and made their public debut as a couple at the opening ceremony of the 2006 Winter Olympics. Their engagement was announced on June 10, 2010. They were married in a civil ceremony on July 1, 2011, in the Throne Room of the Prince's Palace. The religious ceremony took place a day afterward, and the couple then honeymooned in South Africa and Mozambique. In 2014, the couple welcomed twins – Princess Gabriella and Jacques, Hereditary Prince of Monaco.

Albert has faced a number of paternity claims and suits over the years. In 1992, Tamara Rotolo filed a paternity suit against him, claiming he was the father of her daughter, Jazmin Grace. The paternity was not confirmed until 2006, and Albert then admitted that he was her father. In 2005, Nicole Coste, a former Air France flight attendant from Togo, claimed that her youngest son was his child. This was confirmed as well.

Albert is an enthusiastic sportsman. He has participated in cross country, javelin throwing, handball, judo, swimming, tennis, rowing, sailing, skiing, squash, and fencing. He also competed in the bobsleigh competition at five consecutive Winter Olympics for Monaco. He later became a member of the International Olympic Committee. He is also a well-known enthusiast of automobiles and planes.