Inside the fabulous life of the royal family of Monaco, who rules over one of the wealthiest countries in the world, is richer than the Queen of England, and lives in a 12th-century palace

monaco royal family prince albert charleneArnold Jerocki/Getty ImagesPrince Albert II and Princess Charlene of Monaco have four-year-old twins: Princess Gabriella and Prince Jacques.Arnold Jerocki/Getty Images

Monaco, a tiny city-state on the French Riviera, is one of the wealthiest nations in the world. A whopping 32% of the population is made up of millionaires.

Known as a "Billionaires' Playground," Monaco is famous for its lavish wealth, casinos, and glamorous events such as the Monaco Yacht Show and the Monaco Grand Prix.

Ruling over this small yet rich city-state are the Grimaldis, the Monaco royal family headed by Prince Albert II, the son of Prince Rainier III and former actress Grace Kelly, who died in a car accident in 1982.

Prince Albert is worth an estimated $1 billion and reportedly owns about a quarter of the land he reigns over, making the Monaco royal family one of the wealthiest in the world. He married Charlene Wittstock, a former Olympic swimmer and teacher from South Africa, in 2011, and the couple shares two children. The prince also has two other children who were born out of wedlock.

Take a look at the lifestyle of the Monaco royal family.

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The Monaco royal family rules over one of the smallest yet wealthiest nations in the world.

The Monaco royal family rules over one of the smallest yet wealthiest nations in the world.

Prince Albert of Monaco is worth an estimated $1 billion and reportedly owns about a quarter of the land he reigns over, making the Monaco royal family one of the wealthiest in the world. For comparison, the Queen of England, Elizabeth II, is worth an estimated $500 million.

Prince Albert married Charlene Wittstock, a former Olympic swimmer and teacher from South Africa, in 2011, and the couple shares two children. The prince also has two other children who were born out of wedlock.

Approximately 32% of the Monaco population is made up of millionaires.

Approximately 32% of the Monaco population is made up of millionaires.

The country is home to 12,261 millionaires in less than one square mile, and the number of millionaires increased by 12% between 2013 and 2018, according to the 2019 Knight Frank Wealth Report.

The official residence of the royal family is the Prince's Palace of Monaco.

The official residence of the royal family is the Prince's Palace of Monaco.

The palace, which was first built as a fortress in 1162, is guarded by a 98-man force made up of highly-trained French military men.

The state apartments are open to public visits for part of the year for 8 euros, or about $9.

As a child, Prince Albert, who is the son of Prince Rainier III and former actress Grace Kelly, spent summers on his family's boat.

As a child, Prince Albert, who is the son of Prince Rainier III and former actress Grace Kelly, spent summers on his family's boat.

The family also went on skiing holidays in Switzerland.

Prince Albert and Princess Charlene's nuptials in 2011 were one of the most lavish and expensive royal weddings ever.

Prince Albert and Princess Charlene's nuptials in 2011 were one of the most lavish and expensive royal weddings ever.

Their three-day wedding cost an estimated $70 million and included guests like Karl Lagerfeld, Naomi Campbell, and Giorgio Armani.

The couple also hired American rock band The Eagles to perform ahead of the ceremony.

The couple's royal lifestyle includes attending star-studded galas such as the Monte Carlo Gala for the Global Ocean.

The couple's royal lifestyle includes attending star-studded galas such as the Monte Carlo Gala for the Global Ocean.

The gala takes place in September each year during the Monaco Yacht Show, and attendees have included Katy Perry and Orlando Bloom, Li Bingbing, Leonardo DiCaprio, Hugh Grant, Robert F. Kennedy, Eva Longoria, and Madonna.

The royal couple also attends the annual amfAR gala in Antibes, France, which takes place during the Cannes Film Festival, the glamorous film festival attended by Hollywood's elite.

The royal couple also attends the annual amfAR gala in Antibes, France, which takes place during the Cannes Film Festival, the glamorous film festival attended by Hollywood's elite.

The gala benefits The Foundation for AIDS Research.

They also rub shoulders with Hollywood A-listers at a television festival created by the Monaco royal family itself.

They also rub shoulders with Hollywood A-listers at a television festival created by the Monaco royal family itself.

Prince Albert's father, Prince Rainier III, created the Monte Carlo TV Festival in 1961.

And the Monaco royals get the best seats at some of Monaco's most high-profile events, like the Monaco Grand Prix, where the 1% cruise in on helicopters and party on multimillion-dollar yachts.

And the Monaco royals get the best seats at some of Monaco's most high-profile events, like the Monaco Grand Prix, where the 1% cruise in on helicopters and party on multimillion-dollar yachts.

A one-day pass to the prestigious Monaco Grand Prix costs $328, and many of the super-rich attendees stay at the Hotel Metropole, where a room can cost up to $41,000 a night.

The prince and princess also host global heads of state, such as President Xi Jinping of China and his wife, Peng Liyuan.

The prince and princess also host global heads of state, such as President Xi Jinping of China and his wife, Peng Liyuan.

In March 2019, Xinping made the first ever state visit to Monaco by a Chinese president.

Prince Albert and Princess Charlene's four-year-old twins, Princess Gabriella and Prince Jacques of Monaco, are already "style icons," according to the press.

Prince Albert and Princess Charlene's four-year-old twins, Princess Gabriella and Prince Jacques of Monaco, are already "style icons," according to the press.

"Four-year-old royal twins Prince Jacques and Princess Gabriella recently shut down the red carpet in Monaco with enough sass to rival Lady Gaga's entire awards season run," Megan C. Hills wrote of the above look for The Standard Uk.

While there aren't many reports of Monaco royal family vacations, Princess Charlene recently took the royal twins on a trip to New York City.

On Instagram, the princess shared a photo of her children near the World Trade Center and the 9/11 Memorial in Manhattan.

The princess has also shared photos and videos of her children on what appears to be a family ski trip.

The Monaco royals are known to take ski vacations to Gstaad, Switzerland.

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