Rainier III, Prince of Monaco Rainier III, Prince of Monaco Rainier III (Rainier Louis Henri Maxence Bertrand Grimaldi; 31 May 1923 – 6 April 2005) ruled the Principality of Monaco for almost 56 years, making him one of the longest ruling monarchs in European history. Though internationally known for his marriage to American actress Grace Kelly, he was also responsible for reforms to Monaco's constitution and for expanding the principality's economy beyond its traditional casino gambling base. Gambling accounts for only approximately three percent of the nation's annual revenue today; when Rainier ascended the throne in 1949, it accounted for more than 95 percent. Rainier
Rainier III, Prince of Monaco with the French film actress Gisèle Pascal, whom he had met while a student at Montpellier University, and the couple lived at Saint-Jean-Cap-Ferrat. Rainier's sister, Princess Antoinette, wishing her own son to ascend the throne, spread rumours that Pascal was infertile. The rumours combined with a snobbery over Pascal's family origins ultimately ended the relationship. Rainier became the Sovereign Prince of Monaco on the death of Louis II on 9 May 1949. After ascending the throne, Rainier worked assiduously to recoup Monaco's lustre, which had become tarnished through neglect (especially financial) and scandal (his mother, Princess Charlotte, took a noted