The Principality of Monaco is a sovereign city-state and microstate on the French Riviera, governed as a constitutional monarchy. With an area of just 2.08 km², it is one of the smallest states in the world, yet also one of the richest and most expensive. It is hard to imagine that in the 1950s, this glamorous destination was facing serious financial troubles.
At that time, shipping magnate and yacht owner Aristotle Onassis bought up a large amount of real estate in Monaco and took control of the failing state bank. He urged Prince Rainier to marry a famous American actress, convinced that such a move would boost tourism. Marilyn Monroe’s name was even suggested, but fate took a different turn when Pierre Galant, a journalist for Paris Match, became involved.
A decision on a train
Grace Kelly was born on November 12, 1929, in Philadelphia. Strikingly beautiful, she started as a model before moving to New York to study at the American Academy of Dramatic Arts. Hollywood quickly noticed her, and she was cast in films almost immediately. In just five years she made eleven movies, winning over audiences worldwide with her talent and beauty. In 1954 she won an Academy Award for Best Actress for The Country Girl. In 1955, while traveling by train from Paris to the Cannes Film Festival, Paris Match journalist Pierre Galant, who was on the same train with some of his colleagues, had the idea of arranging a meeting between Grace and Prince Rainier. He and his colleagues approached her on the train, and she agreed. For Grace it was not love at first sight, but Rainier began sending her heartfelt letters. When he later visited her in Philadelphia over the Christmas holidays, they spent long hours together walking in the woods, driving through the mountains, and talking about life. Their relationship deepened, and Rainier proposed. Grace accepted, despite being engaged at the time to the jealous fashion designer Oleg Cassini, a relationship she ended. The engagement to Prince Rainier was officially announced on January 5, 1956.
A grand wedding
Their fairy-tale wedding consisted of two ceremonies. The civil ceremony took place on April 18, 1956, in the palace’s Throne Room, attended by three thousand Monegasque citizens. It was followed by a reception, during which Grace’s new titles were formally proclaimed. The next day, the religious ceremony took place in St. Nicholas Cathedral, watched by millions of viewers around the world. Around 700 guests attended the grand wedding. For their honeymoon they set sail on a luxury yacht given to Rainier as a wedding gift by Aristotle Onassis. His idea of a princely marriage to a Hollywood star had succeeded. By 1961, just five years later, Monaco’s annual revenues had climbed to 128 million USD – a 400 percent increase in a decade. From then on, Monaco’s fame and allure only grew. During their seven-week Mediterranean cruise they visited numerous ports, their voyage becoming a symbol of romance and elegance. Grace conceived their first child during the trip; Princess Caroline was born on January 23, 1957.
Grace Kelly and Prince Rainier III at their wedding ceremony.
A less than happy marriage
Prince Albert II was born on March 14, 1958, and Princess Stéphanie on February 1, 1965. Grace adored her children, but she was not entirely happy. She had given up her film career at just 26, yet she longed to return. When Alfred Hitchcock offered her the lead role in Marnie in 1962, she was eager to accept. But the idea caused outrage in Monaco, and Rainier himself opposed it, forcing her to decline. She realized she would never return to the screen. The marriage between Grace and Rainier was not a particularly happy one. Their interests and lifestyles were very different: he loved sports, she preferred culture and society. Many sources speak of Rainier’s frequent affairs, even within months of their wedding. By the late 1970s Grace was considering divorce, but under the prenuptial agreement she risked losing custody of her children, and she could not take that step. The rigid protocol and endless formal duties often bored her, so she sought purpose in charity work. She became head of the Monegasque Red Cross, patron of Josephine Baker’s Rainbow Coalition Children orphanage, and founded Amade Mondiale, an internationally recognized nonprofit, after witnessing the plight of Vietnamese children. Her dedication to the arts also led her to create the Princess Grace Foundation in 1964, which has since distributed millions of dollars in scholarships and grants to young talents in film, dance, and music.
Grace Kelly with her husband and children in Switzerland.
A tragic accident
On September 13, 1982, the world was stunned. Grace and her 17-year-old daughter Stéphanie were returning from the family’s country estate when Grace suffered a mild stroke at the wheel, lost control of the car, and plunged 30 meters down a slope. In hospital she suffered a second, more serious stroke, slipped into a coma, and after 24 hours was declared brain-dead. Rainier made the decision to disconnect life support. Her funeral took place in Monaco on September 18, 1982.
A meeting with Diana
Princess Diana attended the funeral. She had met Grace only once, on March 7, 1981, at a charity concert in London’s Goldsmiths’ Hall, just weeks after her engagement to Charles was announced. Diana felt miserable – awkward in her clothing, overwhelmed by media attention and royal protocol. Grace noticed her unease and gently took her aside to the ladies’ room, where she lightheartedly told her, “Don’t worry, it will only get worse.” The remark, though humorous, made a deep impression on Diana. She later described Grace as kind, warm, and empathetic – but also sensed the tension and inner struggle behind her elegance. Grace’s candid words became symbolic for Diana, a first glimpse into the reality of royal life. Three months after William’s birth, Diana asked Queen Elizabeth II for permission to attend Grace’s funeral on her behalf, which was granted. It was Diana’s first official engagement as Princess of Wales.
The prince and princess arriving for a luncheon at the White House.
Transforming Monaco
Princess Grace lived a life of elegance, culture, and compassion. She devoted her time to public service, charity, and maintaining the American traditions she had brought to Monaco. Through her support of the arts and her natural charm, she became a beloved figure and dramatically raised Monaco’s international profile. Her Hollywood origins and presence as princess turned the principality from a quiet destination into a magnet for the elite and celebrities – a change that profoundly boosted its economy.
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