Rainier III, Prince of Monaco (He suspended the previous constitution in 1959, saying that it "has hindered the administrative and political life of the country.") The changes ended autocratic rule, placing power with the prince and a National Council of eighteen elected members. At the time of his death, he was the world's second longest-serving living head of state (independent), ranking just below the King of Thailand, Bhumibol Adulyadej. After a year-long courtship described as containing "a good deal of rational appraisal on both sides" ("The Times", 7 April 2005, page 59), Prince Rainier married Oscar-winning American actress Grace Kelly (1929–1982) in 1956. The ceremonies
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