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
Prince's Palace of Monaco a steady stream of visitors from Byblos, Tyre, and Sidon. Later the Phoenicians came to trade silk, oil, and spices with the natives. It was the Phoenicians who introduced to this area of the Mediterranean their god Melkart, later known by the Romans as "Hercules Monoikos". It was after this god that the Romans renamed the area "Portus Hercules Moneici", which has evolved to the present name of Monaco. The seat of the Prince of Monaco was established on the Rocher de Monaco ("Illustration 5") as a fortress in 1191 when the harbour, that is today lined by Monte Carlo,