The richest heir of Monaco, Tatiana Santo Domingo, is worth 3 billion dollars

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If you were to imagine the richest resident of the small nation of the Côte d'Azur, I am surely reminded of images of an old, leathery and tanned man in a linen shirt sipping champagne on a yacht.

Tatiana Santo Domingo does not seem that way.

At the beginning of this month, it was revealed that the heir of the beer holds that title, although there are residents of Monaco with more money than they are not legally citizens.

The grandson of a wealthy beer-producing tycoon, the 35-year-old born at the top of the small nation's list with net worth of nearly $ A3 billion, according to Forbes.

His grandfather Julio Mario Santo Domingo was the second richest man in Colombia when he died in 2011, having built his fortune as the owner of Bavaria, one of the main breweries in South America.

The beer magnate has traded his stake in the brewing company with a 15% stake in the global giant SABMiller.

The deal made his family extremely wealthy, while Julio's personal fortune jumped to a staggering $ 12.3 billion with homes in New York, Paris and even a private island off the coast of Colombia.

After it passed, a sixth of that wealth penetrated the young Tatiana's bank account.

The heir had not exactly a normal education, spending his high school days at the exclusive Swiss Institut Le Rosey college which has annual fees of $ A190,000.

Then he did what every young billionaire does: study fine arts at the American University of London.

In 2013, Tatiana married the royal family of Monaco through her marriage to Andrea Casiraghi, nephew of the reigning Prince Albert and grandson of American superstar Grace Kelly.

ONE OF THREE RESIDENTS ARE MILLION

Monaco has a population of 38,300 and, according to the Knight Frank Wealth Report of 2019, about 12,261 of these are millionaires.

This means that about one in three of the squeezed residents in the three square kilometer paradise are millionaires.

And with such highly concentrated wealth, it's no wonder that there are so few poor people. In fact, it's practically no poverty in Monaco.

The city has two main sources of income: tourism and millionaires who buy homes, Karyn Adams of the Borgen Project, a non-profit organization with a mission to fight global poverty, he wrote.

"The government is reinvesting tourism earnings and other capital gains in the community to improve the quality of life and to encourage the rich to continue traveling and buying property," he said.

"Although these improvements are aimed at attracting foreigners with money, even the natives benefit, effectively creating a line of poverty that is practically non-existent within their small, proud and sovereign nation."

Even more seductive for these millionaires than turquoise water and the annual Formula One Grand Prix is ​​the long-standing policy of no income tax.

But just because taxes are low doesn't mean it's an affordable city to set up camp.

A small one-bedroom apartment will earn you $ 2.3 million, Alexander Kraft, president of the Sotheby's International Realty France-Monaco he told Mansion Global.

What could be better than a cocktail party, being married to the richest citizen of Monaco or being the grandson of Grace Kelly? Comment below @James_P_Hall | or contact us at the address james.hall1@news.com.au

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