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Europe's Smallest Countries: - MONACO

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Author Topic: Europe's Smallest Countries: - MONACO  (Read 1893 times)
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« Reply #45 on: April 20, 2008, 05:37:26 pm »

                     Prince Albert II Of Monaco Formally Acknowledges Illegitimate Biracial Son.

Date: 8/15/2005
In a recent statement Prince Albert II of Monaco officially recognized paternity of a boy born to
a Black French-Togolese woman almost two years ago, automatically bestowing on the child the eventual rights as an heir to a billion-dollar fortune, but not to the throne, according to reports.

In the statement, the recently crowned prince said he "has and will continue to face up to his responsibilities" after having fathered the child with Nicole Coste, a former flight attendant whom he met in July 1997 on an Air France flight to Paris from the French Riviera, reports the New York Times.

When speaking of his son the prince told French television, "This child will never want for anything," reports People magazine. He also said that the boy is "totally part of my private life."

According to the paper, Prince Albert, 47, who assumed royal powers in April upon the death of this father, Prince Rainer III, is now expected to register as the father of 23-month-old Alexandre, making the boy his heir under French law. The law liberalized several years ago to give equal rights to so-called "natural" offspring born to unmarried adults.

Article 10 of Monaco's constitution specifies that only "direct and legitimate" descendants can assume the throne-which would exclude Alexandre. The boy could yet become an heir to the Grimalidi throne if the family decides it is in its interest, reports the Times. For now he is simply on track to becoming very wealthy. Technically the prince's successor is now his sister Princess Caroline, 48.

Scandal is nothing new to the royal family. According to the Times, the prince's sister, Princess Stephanie, 40, has had three children out of wedlock, and his grandmother was the daughter of Prince Louis II of Monaco and a North African laundry worker. The grandmother was not recognized as Prince Louis' daughter until she was 13 and did not become an heir to the throne until she was 21.

Coste, 33, and the prince had a love affair that lasted several years until, according to her, Prince Albert's father intervened, said the Times. Coste, the mother of two other children from a previous marriage, decided to go public after Prince Albert had acknowledged his paternity to her after a DNA test but had never given her papers to support her claim.

To care for the child Coste is given a reported $12,000 a month in financial support. The prince has also deeded a $2.5 million house in the South of France to the child, according to People. The magazine also said that Costa "feels a tremendous sense of relief" now that the matter is settled,
and that "she got what she wanted, and she's glad it's over."

If Alexandre is the sole heir upon his father's death, by law he will automatically inherit half of Prince Albert's estate. The law prevents parents from disinheriting their children.

According to the Times, Prince Albert's fortune, consisting primarily of real estate, is worth more than $1 billion and could be close to $2 billion.
« Last Edit: April 20, 2008, 05:38:27 pm by Bianca » Report Spam   Logged

Your mind understands what you have been taught; your heart what is true.
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