A new revelation has shaken Monaco's royal house, one of the most glamorous and enigmatic in Europe. The spotlight is once again on Albert of Monaco and his wife Charlene, whose lifestyle and personal expenses have been a topic of debate for years. Now, thanks to new leaks, surprising information about their personal finances, the salaries they receive, and the luxuries surrounding their lives has been confirmed.
Unlike other European monarchies, which make their budgets public each year with a certain degree of transparency, the Grimaldi family's accounts are sealed. However, according to sources close to the princely family, the Principality of Monaco allocates millions to keeping the royalty. In 2020, Monaco's royal house received approximately €48 million ($48 million) to cover its operations, including salaries, palace upkeep, and staff.
Much of this information has come to light thanks to Claude Palmero, who was Albert of Monaco's chief financial manager for more than a decade. His dismissal just over two years ago, after being accused of irregularities, didn't prevent crucial details from becoming known.
Monaco's royal house can no longer hide the big news about Albert and Charlene
Among them is that Charlene of Monaco received an annual salary that started at €7.5 million ($7.5 million) and over time reportedly rose to €15 million ($15 million) per year. These figures, which far exceed the salaries of other European royals, confirm that the marriage of Albert and Charlene is the one that spends the most money within the family.
Palmero's handwritten notes, published by the French newspaper Le Monde, also detail some of the princess consort's most striking investments. From €1 million ($1 million) to redecorate her office to the salary of her personal chef, who earns €300 ($300) per day. In addition, Charlene is among the royals who invest the most in fashion at the continental level, far surpassing figures like Queen Letizia.
Albert and Charlene of Monaco's royal house is among the wealthiest in all of Europe
Meanwhile, Albert of Monaco has a personal fortune estimated at around $1 billion. Before the pandemic, the sovereign had €15 million ($15 million) per year for personal expenses, although he reduced that figure to €8 million ($8 million) during the major health crisis. Despite this, the exact details of the Principality's financial management remain opaque.
This new wave of information has had a strong impact not only among Monégasques but also internationally.
It is clear that, although Monaco is one of the smallest states in Europe, the scale of its wealth is above that of certain powerful monarchies on the continent.