What are businesses of Monaco millionaires?

What are businesses of Monaco millionaires?

Monaco is known for its luxury real estate business other hand While hotels, restaurants, luxury goods and finance are widely represented in Monaco's DNA, other sectors such as construction, real estate, trade and digital technology make up the Principality's diversified economic fabric.

Many of the millionaires in Monaco are involved in the country's tourism and gambling industries. The principality is home to some of the most luxurious hotels and casinos in the world, attracting high-rollers from all over the globe. Monaco is also known for its yachting and sailing industries, with many of the world's wealthiest individuals owning or chartering luxury yachts in the Mediterranean. In addition to tourism and gambling, there are also several other businesses that contribute to the economy of Monaco. These include finance, real estate, and a range of luxury retail stores.

It makes sense that majority of Monaco's millionaires have invested in the luxury industry within the state. I bet no one would want to invest elsewhere where they would have to pay a slew of taxes.

Monaco is home to multiple ultra-wealthy billionaires, with the top s5 having a combined net worth of $52.7 billion in 2023. These billionaires have made their wealth in industries such as real estate, shipping, drugstores, fashion & retail, finance & investments, and manufacturing.

Monaco millionaires often engage in businesses related to finance, real estate, luxury goods, hospitality, and high-end services, taking advantage of the principality's favorable tax environment and affluent clientele.