Hans-Adam II is Europe’s richest monarch despite ruling one of its tiniest states. The prince of Liechtenstein flaunts his contempt for democracy, blending feudalism and financial capitalism to supply a model for the Right in much bigger countries.

In February 2025, the Principality of Liechtenstein, a microstate twenty-five kilometers long and twelve kilometers wide that is wedged between Switzerland and Austria, proudly celebrated the eightieth birthday of its reigning prince, Hans-Adam II. This ruler of a mountainous territory with just 41,000 inhabitants has become Europe’s wealthiest monarch — a man whose estimated fortune amounts to $12.6 billion.

Officially, the sovereign has retired from governmental affairs, having transferred his powers to his eldest son, Alois, in 2004. Yet Ha

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