Rainier III

One of the Important Historical Figures in Monaco that we would like to introduce to readers is Rainier III. From 1949 until his passing in 2005, he served as prince of Monaco. One of the longest-reigning monarchs in European history, Rainier reigned the Principality of Monaco for nearly 56 years. The lone child of Prince Pierre and Princess Charlotte of Monaco, Rainier was born at the Prince's Palace in Monaco. He was primarily responsible for Monaco's economy changing from a traditional gambling casino to what it is today a tax haven and a popular tourist destination. Additionally, the prince oversaw important constitutional changes in Monaco that restricted the authority of the sovereign regime.

Summerfields Public Schools in St Leonards-on-Sea, Sussex, provided Rainier with his early schooling. Then, starting in 1939, Rainier studied at the Institut Le Rosey in Rolle and Gstaad, Switzerland. After that, he went on to the University of Montpellier in France, where he graduated with a bachelor's degree in arts in 1943, and then he attended the Institut d'études politiques de Paris in Paris.

Rainier became Prince Louis' immediate heir in 1944 when his mother gave up her right to the Monegasque throne on the occasion of Rainier's 21st birthday. As a second lieutenant in the Free French Army under General de Monsabert during World War II, Rainier enlisted with the organization in September 1944. During the German offensive in Alsace, he saw battle as a soldier. In 1947, Rainier won the French Croix de Guerre, a brigade-level bronze star, and the rank of Honor. His promotion to Captain in April 1949 and Colonel in December 1954 came after his discharge from the French army.

Following his accession to the throne, Rainier set out to restore Monaco's glory, which had been marred by financial mismanagement and controversy. In order to make up for the lost revenue, Rainier made the decision to market Monaco as a financial refuge, business hub, location for real estate investment, and tourism destination. Aristotle Onassis, a Greek shipping mogul who gained control of the Société des Bains de Mer (SBM) and saw Monaco as merely a flag resort, played a significant role in the early years of his rule. When Prince Rainier took control of SBM in 1964, he almost guaranteed that his plans for Monaco would be carried out.

His health declined in the latter years of his life. He had surgery in late 1999 and early 2000, and in November 2002, he was sent to the hospital with a chest infection. Prince Rainier III passed away on April 6 at 6:35 a.m. local time in Monaco's Thoracic Center. He was 81 years old. On April 15, 2005, he was laid to rest in the Church of the Immaculate Conception, close to his wife, Princess Grace.

In short, Rainier III:

• served as prince of Monaco and reigned the Principality of Monaco for nearly 56 years is one of the longest-reigning monarchs in European history.
• was a second lieutenant in the Free French Army during World War II before ascending the throne.
• change the economy of Monaco moving from a traditional casino base to a tax haven and cultural destination.