Chicago Sun-Times: Longtime leader of Monaco Prince Rainier III dies

MONACO -- The famed Monte Carlo casino was closed, its roulette wheels at rest as Monaco mourned the death Wednesday of Europe's longest-reigning monarch, Prince Rainier III, who worked to overcome this tiny principality's reputation as "a sunny place for shady people."

The throne now goes to Prince Albert II, Rainier's only son with actress Grace Kelly.

In power for 56 of his 81 years, Rainier was the only ruler many of Monaco's 32,000 residents had ever known. A veritable father- figure, he poured his energies into public works, earning the name "the builder prince."

He put Monaco -- which is smaller than New York's Central Park -- on the world map with his April 18, 1956, marriage to Kelly, who gave up Hollywood fame to become Princess Grace.

To be buried next to princess

Albert, 47, has been groomed from birth to succeed Rainier. He's multilingual, U.S.-educated, and a five-time bobsledding Olympian. He was at his father's bedside when Rainier died. Rainier had been treated for the past month for heart, kidney and breathing problems.

The prince's funeral will be held April 15 at the 19th-century Monaco Cathedral where he and Princess Grace wed. He is expected to be buried next to her.

"Each of us feels like an orphan because the principality has been marked by his imprint over the 56 years" of his reign, said Patrick Leclercq, head of Monaco's government.

When Rainier assumed the throne on May 9, 1949, Monaco's economy was driven by its roulette tables. Gambling proceeds represented 45 percent of government revenue.

Now, casinos contribute less than 4 percent and Monaco relies on industries including pharmaceuticals, plastics, banking and tourism.

"I am like the head of a company," Rainier once said.

Rainier also is survived by his daughters, Princesses Caroline and Stephanie.