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Man Of The People

Richest Country in the World Luxembourg vs Monaco’s Top 10 Business Billionaires.

Monaco is the name of the country. The city of Monaco has neighborhoods, and MonteCarlo is one of these. It is the district on the hill, overlooking the main harbour, where you will find the casino and many luxury hotels. … Monaco’s flag is the same as the flag of Indonesia

Monaco is about 1,293 times smaller than Luxembourg.

Luxembourg is approximately 2,586 sq km, while Monaco is approximately 2 sq km. Meanwhile, the population of Luxembourg is ~594,130 people (563,485 fewer people live in Monaco).

What is the richest country in the world?
The European country of Luxembourg has been classified and defined as the richest country in the world. The findings are based on the gross domestic product values of the countries.
How is Monaco so rich?
The mini country on France’s sun-kissed Mediterranean coast is home to about 38,000 people, and one in three are millionaires, according to WealthInsight. It has the highest per capita GDP in the world. The big draw is tax. … In addition to tax benefits, the rich also like Monaco for its lifestyle.
Is Monaco expensive to visit?
Monaco is the most expensive city in the world when it comes to real estate, according to the Knight Frank’s latest Wealth Report. Knight Frank, the London-based real-estate firm, said that the average price of real-estate in Monaco was between $5,350 and $5,920 per square foot in the fourth quarter of 2012
Why is Monaco not part of France?
First of all, Monaco was annexed by revolutionary France and was part of it from 1793 to 1814. … Monaco was not annexed by Savoys before 1860, because its independence was guaranteed by France (Treaty of Peronne).
How much do I need to live in Monaco?
The minimum amount required by the Monaco government for a residency application is € 500,000 per main applicant to be deposited in an account in the applicant’s name with a bank in Monaco and which must be held with the bank at all times during the residency period.

Monaco’s Top 10 Business Billionaires. Welcome to Three Commas Monaco Club

Hello Monaco starts a series of publications about the famous Monaco residents. In today’s issue, read about the most successful businessmen whose fortune exceeds billions of dollars.

Monaco provides a fabulous lifestyle for those whose taste for luxury exceeds the limits of what most cities can offer. So it’s no secret that Monaco attracts some of the richest people in the world. In fact, Monaco consistently ranks #1 for millionaire density, with over 30 % of residents having a net worth of over $1 million. In a country with less than 40,000 residents, the average net worth per person is €1.42 million and 2,200 of those are worth more than €10 million.

Our list of Monaco’s Top 10 Business Billionaires includes self-made billionaires, heirs and heiresses, property magnates, art dealers and business moguls. Listed in order of their standing on the 2018 Forbes Billionaire List, their net worth makes them members of a very exclusive club — the Three Commas Club. If you haven’t heard of this «club» it is reserved solely for those with a net worth in the billions. Here are Monaco’s Top 10 Business Billionaires.

1) Stefano Pessina

Stefano PessinaStefano Pessina

Italian pharmaceutical magnate and chairman of Walgreens Boots Alliance is #127 on Forbes Billionaire List with a whopping $11.1 billion in net worth. Pessina started his career with his family’s pharmaceutical wholesale company in Italy. With what some consider lightening speed, Pessina turned the business into world-leading pharmaceutical giant, buying up most small pharmaceutical companies in Europe and merging with UK drugstore Boots. In a swift takeover of the Boots Alliance, and successive merger with US drugstore chain, Walgreens, Pessina made windfall profits. He moved to Monaco decades ago and has relinquished his Italian citizenship for Monagasque.

Interesting factoid: Stefano Pessina is a nuclear engineering by training. He is also known to collect art.

2) Sir David & Sir Frederick Barclay

Sir David & Sir Frederick BarclaySir David & Sir Frederick Barclay

Known as the «Barclay Twins», these brothers from London have amassed tremendous wealth in media and hotel properties. Their net worth is $5.6 billion, placing them at #305 on Forbes Billionaire List. In the 1950’s, the pair started flipping houses and turning old boarding houses into hotels. In 1995, they bought the Ritz Hotel in London. Today they hold stakes in shipping, retail, property, and media outlets. In 2000, the brothers were knighted for their support of medical research, which estimates they donated about £45 million to research since 1985. While their permanent home is on small Channel Islands in Britain, the Barclay brothers have kept a flat in Fontvieille for several years.

Interesting factoid: Before making their vast wealth, the pair ran a confectioner in Kensington in the 1940’s. Candy Corner was bankrupted by the High Court after their business failed and the landlord seized the property.

3) Christina Green

Lady Tina GreenLady Tina Green

British businesswoman and owner of Taveta Investments, ranks #422 on Forbes Billionaire List with a net worth of $4.8 billion. Her husband, Sir Philip Green, is the founder and chairman of the retail company Arcadia Group, which includes Topshop, Topman, Wallis, Evans, Burton, Miss Selfridge, Dorothy Perkins, and Outfit. The BHS department store chain used to be part of the group, until it went out of business. Christina is the sole shareholder of Taveta Investments, the stake holding company of Arcadia. «Tina», as she is known, is a full-time resident of Monaco, while Philip works in London during the week and spends the weekends in the Principality. The couple have two children.

Interesting factoid: The Greens recently acquired «Lionheart», a £100 million yacht that has found a comfortable home in Monaco’s port.

4) Steve Wynn

Steve WynnSteve Wynn

Coming in at a #679 on Forbes Billionaire List, the American businessman has a $3 billion net worth. Wynn created a real estate empire with high-rise resorts and casinos in Las Vegas, Macau and elsewhere. Wynn started with some of the most famous resorts and casinos in Las Vegas, including the Mirage, Bellagio and Wynn. His new style of hotel and casino forever changed the style of Las Vegas. In 2006, the Las Vegas Gaming Association inducted Wynn into the «Hall of Fame» for his iconic transformation of the Vegas Strip. That same year, he made Time Magazine’s Most Influential People List. Wynn’s ability to create ultimate luxury hotels, restaurants and casinos, certainly didn’t go unnoticed in Monaco. In 2010, HSH Prince Albert II granted Wynn honorary Monegasque citizenship.

Interesting factoid: In 2010, Wynn became a vegan and added meat-free menus to all his restaurants.

5) Tatiana Casiraghi

Tatiana CasiraghiTatiana Casiraghi

Born Tatiana Santo Domingo, she is a 34-year-old Colombian/Brazilian heiress to her grandfather’s fortune from the sale of his Columbian beer empire, Bavaria. Her net worth is valued at $2.1 billion, placing her at #1103 on Forbes Billionaire List. Tatiana is active in fashion and co-founded Muzungu Sisters, an ethical retail company that sells fair-trade, artisan made fashion. She is also the wife of Prince Andrea Casiraghi, son of Princess Caroline and fourth in line to the Monaco throne.

Interesting factoid: Tatiana met Andrea while attending boarding school in Fontainebleau near Paris. They have two sons and a daughter. Their third child, Maximillian Rainier, was born in April, 2018.

6) Bahaa Hariri

Bahaa HaririBahaa Hariri

The 52-year-old investor comes from a very wealthy Lebanese/Saudi family and sits at #1157 on Forbes Billionaire List with $2.1 billion in assets. His business is in real estate and logistics and he is the son of former Lebanese Prime Minister Rafik Hariri. After selling his stake in the family’s construction business, Saudi Oger, he set off on his own, creating Horizon Group, which invests in real estate in Jordan, Beirut and Amman.

Interesting factoid: Bahaa Hariri worked with the Jordanian government to revitalize Amman. The project is now worth $5 billion.

7) David & Ezra Nahmad

NahmadsDavid & Ezra Nahmad

Another set of billionaire brothers for the Principality with a combined net worth $3.3 billion. David, 71, is listed at #1284 on Forbes Billionaire List worth around $1.8 billion, and Ezra, 73, at #1561 worth $1.5 billion. These two Syrian art dealers have «stockpiled» one of the largest collections of blue chip paintings, including Claude Monet, Auguste Renoir, Mark Rothko and more. They have 300 Picassos valued at $3 billion alone. Originally from Syria, the family moved to Lebanon in the 1940s after anti-Semitic unrest in the country. From there the family moved to Milan, where the brothers discovered art trading. Today the brothers are considered the largest buying force in the art world.

Interesting factoid: David is an avid player of Backgammon and was the 1996 Backgammon World Champion.

8) Sir Stelios Haji-Ioannou

Sir Stelios Haji-IoannouSir Stelios Haji-Ioannou @

The 51-year-old Cypriot «serial entrepreneur,» as he refers to himself, started EasyJet Airlines and the easy brand. He ranks #1477 on Forbes Billionaire List, with $1.62 billion of net worth. Stelios is the son of a Cypriot shipping magnate, who loaned him £5 million to start the airline venture in 1995. Today easyGroup, headquartered in London, includes easyCar, easyHotel, easyBus and more.

Interesting Factoid: Stelios joined Giving Pledge in 2017, which sees philanthropist billionaires pledge a portion of their annual income to charity.

Read about how to make more money posting stories like this using dotifi domains about Stelios Haji-Ioannou in the «Portrait» section of this issue.

9) Mohamed Al-Fayed

Mohamed Al-FayedMohamed Al-Fayed

Tied with #8 for a net worth of $1.62 billion, the 89-year-old Egyptian businessman made his money in the UK as the sole owner of Harrods department store. He sold Harrods to Qatar in 2010 for £2.4 billion, but still owns the Ritz Hotel in Paris and 75 Rockefeller Plaza in New York. He also owned Fulham club, which he sold for $300 million in 2103. Al-Fayed has lived in Monaco for decades, being a part of glamour days of Hollywood stars and the marriage of Prince Rainier III to Grace Kelly.

Interesting factoid: For a long time, the Sokar yacht where Mohamed’s son, Dodi, proposed marriage to Princess Diana was the first in the ranking of the «coolest» megayachts. On this magnificent ship Dodi and Diana spent their last summer vacation.

Later, the yacht became a target for the paparazzis and the «yellow press». Mohamed Al-Fayed practically ceased to use it and sold it to his colleague in oil business for $35 million. However, one can see the Sokar yacht in Monaco from time to time.

10) Alexander Vik

Alexander VikAlexander Vik

The 63-year-old Norwegian businessman ranks #2124 on Forbes Billionaire List with a net worth of $1 billion. From a long standing family of Norwegian fur merchants, Alex was born in Norway, raised in Sweden, schooled in the Canary Islands and attended university at Harvard. Mr Vik has invested in several different industries, from insurance to closed funds, but he made significant wealth in the tech industry. He lives in Monaco with his wife and four children.

Interesting factoid: Alexander Vik owns Christiania Vodka brand, made from a 400-year-old recipe that originated in the court of Norway’s King Christian IV.

Country comparison Luxembourg vs Monaco



Annual GDP [+] 2018 69,488M.$ chart 6,401M.$ 2017 Annual GDP [+]
GDP per capita [+] 2018 113,192$ chart 167,125$ 2017 GDP per capita [+]
Debt [+] 2018 14,865
Debt (%GDP) [+] 2018 21.40%
Debt Per Capita [+] 2018 24,214$
Deficit (M.$) [+] 2018 1,675
Deficit (%GDP) [+] 2018 2.40%
Expenditure (M.$) [+] 2018 29,971.5
Education Expenditure (M.$) [+] 2015 2,240.9 chart 88.7 2016 Education Expenditure (M.$) [+]
Education Expenditure (%Bud.) [+] 2015 9.44% chart 6.98% 2017 Education Expenditure (%Bud.) [+]
Gov. Health Exp.(M.$) [+] 2018 3,156.4 chart 90.0 2016 Gov. Health Exp.(M.$) [+]
Gov. Health Exp. (%Bud.) [+] 2016 11.88% chart 6.70% 2016 Gov. Health Exp. (%Bud.) [+]
Defence Expenditure (M.$) [+] 2018 425.0
Defence Expenditure (%Bud.) [+] 2018 1.40%
Expenditure (%GDP) [+] 2018 43.10%
Expenditure Per Capita [+] 2018 48,822$
Education Expenditure P.C [+] 2015 3,981$ chart 2,362$ 2016 Education Expenditure P.C [+]
Gov. Health Exp. P.C. [+] 2018 5,243$ chart 2,339$ 2016 Gov. Health Exp. P.C. [+]
Defence Expenditure P.C. [+] 2018 692$
Moody’s Rating [+] 08/30/2019 Aaa
S&P Rating [+] 04/28/1994 AAA
Fitch Rating [+] 09/06/2019 AAA
Corruption Index [+] 2018 81
Competitiveness Ranking [+] 2018 19º
Fragile States Index [+] 2018 20.8
Innovation Ranking [+] 2018 15º
Unemployment Rate [+] July 2019 5.7%
Unemployment rate [+] 2019Q1 5.4%
Unemployed [+] 2019Q1 16 m.
NMW [+] 2019 2,371.4 $
Average Wage [+] 2018 70,266$
Human Capital Ranking [+] 2017 30º
US Dollar exchange rate [+] 09/18/2019 0.9047 chart 0.9047 09/18/2019 US Dollar exchange rate [+]
Stock ExchangeYTD % [+] 11/13/2018 0%
CPI (overall index) [+] August 2019 1.7%
HICP [+] August 2019 1.4%
PPI Year on Year [+] July 2019 1.5%
Money Market
Key rates [+] 10/17/2017 0% chart 0% 10/17/2017 Key rates [+]
Doing Business [+] 2019 66º
IPI Year on Year [+] July 2019 -1.4%
Passengers vehicles Year [+] June 2019 53,279
Annual Vehicles/ 1,000 p. [+] June 2019 97.62
Vehicles / 1,000 people [+] 2015 733.25
Standard VAT [+] 01/01/2015 17.00%
Top tax rate + SSC [+] 2018 47.2%
Exports [+] 2017 15,749.5 M.$
Exports % GDP [+] 2018 23.41%
Imports [+] 2017 22,661.3 M.$
Imports % GDP [+] 2018 34.54%
Trade balance [+] 2017 -6,911.7 M.$
Trade balance % GDP [+] 2018 -11.13%
Retail Sales YoY [+] July 2019 2.8%
Ranking [+] 2015 19º
Density [+] 2018 237 chart 19,150 2018 Density [+]
Crude divorce rate [+] 2017 2.00‰ chart 2.50‰ 2004 Crude divorce rate [+]
Remittance received (M.$) [+] 2017 1,746.1
% Immigrant [+] 2017 43.87% chart 55.50% 2017 % Immigrant [+]
% Emigrant [+] 2017 10.31% chart 75.67% 2017 % Emigrant [+]
Birth Rate [+] 2018 10.30‰ chart 5.90‰ 2018 Birth Rate [+]
Remittance sent (M.$) [+] 2017 1,321.5 chart 181.3 2017 Remittance sent (M.$) [+]
Crude death rate [+] 2018 7.10‰ chart 6.60‰ 2018 Crude death rate [+]
Fertility Rate [+] 2017 1.39
Rate Homicides per 100.000 [+] 2014 0.72 chart 0 2015 Rate Homicides per 100.000 [+]
Crude marriage rate [+] 2017 3.20‰ chart 4.76‰ 2005 Crude marriage rate [+]
% risk of poverty [+] 2015 15.3%
Population [+] 2018 613,894 chart 38,300 2018 Population [+]
Immigrant stock [+] 2017 264,073 chart 21,255 2017 Immigrant stock [+]
Emigrant stock [+] 2017 62,054 chart 28,983 2017 Emigrant stock [+]
HDI [+] 2017 0.904
Gender Gap Ranking [+] 2018 61º
Life expectancy [+] 2017 82.10
Number of homicides [+] 2014 4 chart 0 2015 Number of homicides [+]
Energy and Environment
CO2 Tons per capita [+] 2017 16.35

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