Caroline, Princess of Hanover Caroline, Princess of Hanover Caroline, Princess of Hanover (Caroline Louise Marguerite Grimaldi; born 23 January 1957), is the eldest child of Rainier III, Prince of Monaco, and the American actress Grace Kelly. She is the elder sister of Prince Albert II and Princess Stéphanie. Until the births of her niece and nephew, Princess Gabriella and Prince Jacques, in December 2014 she had been heir presumptive to the throne of Monaco since 2005, a position which she previously held from 1957 to 1958. Caroline is married to Ernst August, Prince of Hanover (born 1954), the heir to the former throne of
Rainier III, Prince of Monaco jewel thief known as René the Cane as her lover). According to numerous obituaries, the prince was faced upon his ascension with a treasury that was practically empty. The small nation's traditional gambling clientele, largely European aristocrats, found themselves with reduced funds after World War II. Other gambling centers had opened to compete with Monaco, many of them successfully. To compensate for this loss of income, Rainier decided to promote Monaco as a tax haven, commercial center, real-estate development opportunity, and international tourist attraction. The early years of his reign saw the overweening involvement of the Greek shipping tycoon Aristotle