The old legendary Monaco Formula 1 Grand Prix surrounded by the exquisite Amber Lounge atmosphere was as exciting as ever in 2019.
Monaco is sophisticated city state known not only for its famous race but world class events on grand scale such as Amber Lounge, Monte-Carlo Open, Yacht Show and many others too. With territory of just about 2 sq. km and only 30,000 residents, comparable to London Hyde Park size, country is 2nd smallest in the world, right after Vatican. It is also the most populated.
Currently, multi-billion sea land reclamation project is being developed which after completion will increase the size of Monaco by 20%. Despite that, real estate prices in tiny principality remain the highest in the world with average of $ 40,000 per 1 sq. m. Monaco is financial centre with focus on wealth management with zero capital gains tax.
Looking into history Monaco was first built by Genoa traders who set up fort in 1215. Rapid economic development only started in 19th century after building of railway line connecting to France and opening of famous Casino. Grimaldi house runs the state since 1297 and its current ruler Prince Albert in the top 10 richest monarchs in the world with net worth over $ 1 billion.
He is certainly not the only one. Every 3rd Monaco resident boasts status of millionaire and there are at least 9 billionaires in the city-state. For example, 52 year old Athens born entrepreneur Sir Stelios who controls roughly 24% of Europe’s 5th largest airline easyJet. He is also renowned for charity cocktail parties where all donated money he doubles from funds of his philanthropic foundation. The richest family in Monaco is Pastors who own large amounts of real estate.
Agris F1 