Prince Albert of Monaco’s fortune is estimated at between 800 million and one billion euros. A large sum that asset managers oversee. One of them was Claude Palmero for over 22 years. Until he resigned in 2023. However, he has kept his notebooks, which contain many details from the principality’s editions. These recordings have now been published in excerpts by the French daily newspaper “Le Monde”.
Charlène of Monaco receives around one million euros in pocket money every year, a sum that is often not enough for the princess. In 2017, for example, Palmero had to release almost 600,000 euros extra to balance her overdraft. The 46-year-old also employs a cook who costs just under 300 euros a day. In December 2019, Palmero stated that the princess had lived beyond her means for eight years. Her pocket money for this time amounted to 7.5 million euros, but Charlène had spent 15 million euros.
However, the former professional swimmer does not have to use her pocket money to spend on renovations, building a house or parties. The notes show horrendous expenses. Around 2019, the princess spent around 2.5 million euros on a holiday villa in Calvi and the renovation of her office. The redecoration of her office alone is said to have cost almost a million euros. Her family, who lives in South Africa, also receives regular donations from the small city-state of Monaco. Her brother even received almost one million euros for a house.
But Prince Albert himself also shovels the money out of the palace. Millions of euros are said to flow annually to his illegitimate children Jazmin Grimaldi and Alexandre Coste-Grimaldi and their mothers. The money for the children should amount to over 400,000 euros per person per year. On top of that, there are gifts from the father, such as a three million dollar apartment in New York for his daughter. These expenses are allegedly paid for from a secret French account.
In contrast, Albert’s sisters, Princess Caroline and Princess Stéphanie, seem almost frugal, receiving around 800,000 and over 700,000 euros annually from the principality. However, they both use the crown jewels as their “personal accessories” without restraint, it is said.
To ensure that there is still enough time to spend money, Charlène of Monaco is said to have had 8.5 employees in 2021. But in the past, according to Palmero, things weren’t always right. The notes contain records of personnel without work and residence permits. A Filipino employee is said to have worked illegally on the farm for five years in 2017, even though he only had a tourist visa for one month. This also affected the nanny who supported the princess after the birth of the twins in 2014.
Palmero didn’t always like the behavior of the employees either. Another Filipino employee is said to have tied up dogs in the shower.
Quellen: Daily Mail, Le Monde
