In the 1950s, Aristotle Onassis did something no other private individual had done before or since. The Greek shipping m...

In the 1950s, Aristotle Onassis did something no other private individual had done before or since. The Greek shipping magnate began quietly buying up shares and property in Monaco, eventually taking control of the Societe des Bains de Mer, the company that ran the principality's casino and controlled much of its economic life. Monaco at the time was in serious financial trouble. The Grimaldi family had ruled the tiny principality since 1297, but their throne sat on a shaky foundation, with the state's revenues tied almost entirely to casino income. Onassis understood that whoever controlled the Societe des Bains de Mer effectively held the keys to Monaco's economy. What happened next was one of the most extraordinary power struggles of the 20th century. Prince Rainier III, who had no intention of watching a Greek shipping tycoon dictate the future of his 700-year-old dynasty, moved to push Onassis out. The two men entered a prolonged dispute that played out behind closed doors, far from the yachts and glamour Monaco projected to the world. Onassis eventually sold his stake back to the Monaco state, ending his grip on the principality's finances. The Grimaldis held on. Whether that outcome suited Onassis or simply reflected the limits of how far even a man of his wealth could go inside a sovereign state is a question history has never fully answered. What is clear is that a Greek shipping magnate from Smyrna came closer to controlling a European monarchy's economy than anyone outside the ruling family ever had, and the dynasty that survived him had been ruling since the age of medieval knights. #Onassis #Monaco #GreekHistory