Inside Monaco: The ultimate playground for the rich – 60 Minutes

Anderson Cooper reports from the country with the most multi-millionaires per square foot and no income tax There's a reason Monaco has often been described as “a sunny place for shady people.” For decades, crooks, courtesans, and con artists were drawn to this slip of land by the sea because of its wealthy residents, its famous casino and its willingness to ignore pesky banking regulations. It's the smallest country in the world outside the Vatican, less than one square mile, and in America, it's been associated with glamour ever since movie star Grace Kelly became Princess of Monaco in the 1950s. Today, it's home to more multi-millionaires per square foot than any other country and while Grace Kelly's son Prince Albert has been trying to push his nation into the 21st century, it unapologetically remains a place where you can parade your jewels, park your money, and not pay any income tax. There are certainly prettier parts of Europe, but it's Monaco where the super-rich are clamoring to get in.  For many, Monaco is synonymous with the highlife. Maseratis and martinis, mega yachts and motorboats. Read more here >>>

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