Who is the richest person in Monaco
The principality has been mourning Michel Pastor, one of the most influential entrepreneurs in Monaco, since Sunday. How did the Pastor family come to be? The RCZ went on a search for clues.
The Pastor family is said to be the richest family in the Principality of Monaco after the Grimaldis. Rumor has it that they own a third of all real estate in the small state.
The origin of the pastor dynasty goes back to the year 1880. At that time, Jean-Baptiste Pastor sat down on the prince's rock. In 1936, Prince Grimaldi commissioned the ambitious entrepreneur to build the first Louis II stadium in Fontvieille. Years later, in the 1970s, the influence of the name Pastor in the principality becomes clearly visible: Jean-Baptiste erected numerous large buildings that still stand on the west coast today and whose value has increased considerably over the years. The family also made a name for itself during the Second World War and expanded the water supply in the principality.
With the takeover of the family business by his son Gildo, the success of the pastor dynasty continues: Gildo buys the sea front from Larvotto and takes care of the expansion of Monte-Carlos to the east. Another breakthrough came in 1966: Gildo Pastor presented Prince Rainier with his well-thought-out building plans for a high-rise apartment block with a sea view on Avenue Princesse-Grasse and was awarded the contract. When Gildo dies in 1990, his three children Victor, Hélène and Michel inherit real estate, which covers a total area of 500,000 square meters across the small state.
The three descendants of Gildo eventually go their separate ways. Only Victor and Michel stay in the real estate business with their children. Victor's sons Patrice and Jean-Victor take over the company from their great-grandfather J.B. Pastor et fils. Michel, on the other hand, founds his own company: Die Michel Pastor Groupwhich is now owned by his children Jean-Baptiste and Delphine. Another daughter of Michel Pastor is known to many French: Alexandra Pastor married David Hallyday in 2005, the son of the French hit legend Johnny Hallyday.
To this day, the family of the now deceased Michel Pastor has the reputation of being the most sophisticated descendants of the Pastor dynasty. In the past few years she had a decisive influence on public life in the Principality.
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