A century-old wealthy family that rose from Shanghai

In February 1966, the Mediterranean sun shone like molten gold over every inch of the fine sand on Lavoto Beach in Monaco.

Colorful ribbons fluttered in the sea breeze during the beach's 10th anniversary celebration, while pale blue balloons bearing the words "La Plage des Rêves" (Dream Beach) stretched from the harbor all the way to the foot of the Royal Palace.

As evening fell, the crystal chandeliers in the five-star hotel attached to the bathhouse shone with a warm yellow light. Waiters carried silver platters filled with champagne and moved among the elegantly dressed guests. Amidst the fragrance of clothes and the swaying of hair, even the air was filled with the mixed scents of fine cologne and rose perfume.

Audrey Hepburn stood on the edge of the terrace, the hem of her custom-made white Givenchy evening gown adorned with tiny pearls that swayed gently with her movements.

Chen Guangliang didn't stand out as much. Of course, no matter how beautiful Audrey Hepburn was, she wouldn't be as eye-catching as Chen Guangliang, because he was a rare Asian face present.

"Guangliang, Duchess Silva of Alba is raising a glass to us!"

Chen Guangliang followed her gaze, raising his hand in response. A Patek Philippe watch peeked out from the cuff of his dark blue custom-made suit—a birthday gift from Hepburn last year, the dial engraved with the initials of their names. "Tonight's guests are even more complete than at last year's Cannes Film Festival," he said softly, his gaze sweeping across the dance floor in the center of the banquet hall, where the melody of "La Vie en Rose" was playing, and several aristocratic couples were already dancing together.

Just then, a figure in a black tuxedo walked through the crowd and headed straight for them. The Fifth Duke of Westminster, Hugh Cavendish, holding a glass of red wine, his eyes behind his gold-rimmed glasses gleaming with obvious amusement: "Mr. Chen, Miss Hepburn, tonight's celebration was truly magnificent—I heard that the beach's taxes last year generated 70% of the country's government revenue, haha!"

The Duke of Westminster is one of the wealthiest nobles in Britain, controlling vast real estate holdings in London and ocean shipping companies. His initiative to strike up a conversation immediately attracted considerable attention. Chen Guangliang clinked glasses with him, the champagne bubbles exploding on the glass: "Your Excellency is too kind. Monaco's climate and geographical location are truly exceptional. Speaking of shipping, I've heard that your Cavendish Line has recently encountered some trouble on its Persian Gulf routes?"

These words struck a chord with the Duke of Westminster. He lowered his voice: "To be honest, the situation across the Suez Canal is becoming increasingly tense. I wonder what your thoughts are on this?"

Hepburn listened quietly, occasionally refilling their champagne, her demeanor as elegant as a classical oil painting. She knew that Chen Guangliang's conversation with the Duke of Westminster held the potential for business cooperation.

Chen Guangliang laughed and said, "Apart from building large ships, everything else is impossible for us merchants."

At the other end of the banquet hall, Prince Rainier III of Monaco held Princess Grace's hand, his knuckles slightly white. Grace, dressed in a burgundy velvet gown, had no smile on her face, her gaze fixed on Chen Guangliang and the Duke of Westminster: "You see, Hugh would rather chat and laugh with an Asian businessman and an Englishman than come over to greet us first."

Prince Rainier III's expression was also grim. He stared at the enormous banner hanging above the dance floor—"Tenth Anniversary Celebration: Thanks to Miss Hepburn for her outstanding contributions"—a banner spontaneously put up by the resort's management, yet it felt like a thorn in his side. Over the past decade, the beach had transformed from a near-bankrupt old pier into a resort destination attracting millions of tourists annually, contributing 70% of Monaco's GDP. But the one who controlled all of this was Audrey Hepburn—a descendant of a fallen aristocrat holding a British passport, with behind her stood the Chinese shipping magnate who controlled the world's largest oil tanker fleet.

“European newspapers have long called her ‘the uncrowned queen of Monaco.’” Grace’s voice was filled with suppressed anger. She recalled seeing Paris Match last week, with a cover featuring a photo of Hepburn feeding pigeons on the lawn of the bathhouse, accompanied by the caption, “The woman who understands Monaco better than the princess.” “They’ve even forgotten who the true masters of this country are!”

King Rainier III took a deep breath, his gaze sweeping over the European nobles surrounding Chen Guangliang—the Italian Agnelli family and even representatives of the Dutch royal family. These people had come to Monaco partly for the luxurious experience of the beach, and partly to discuss cooperation with Chen Guangliang. He suddenly felt like a guest in someone else's house. "Wait a little longer," he said softly. "We'll talk to them after the celebrations."

In the royal study late at night, the light from the crystal chandelier seemed particularly cold. Grace slammed a copy of *The Times* on the table; the front page headline read, "Seawater Resorts Exceed $10 Billion in Revenue Over Ten Years, Hepburn's Stock Value Doubles," the words dripping with admiration for this "businesswoman." "Rannie, I've had enough!" she stood up, her velvet dress sweeping across the carpet. "They've not only taken our money, they've stolen our reputation! We must drive them out of Monaco!"

King Rainier III sat on the leather sofa, his fingers tapping the armrest. It wasn't that he didn't want to, but that he couldn't—Monaco was a small country with no natural resources, relying entirely on foreign investment and tourism. If he forcibly expelled Chen Guangliang and Hepburn, what would European capital think? Would those wealthy individuals who had planned to invest in Monaco be deterred? "Expelling them directly would destroy the country's credibility," he said wearily. "We can exercise the King's executive order, under the pretext of 'protecting the security of the nation's core assets,' to reclaim the operating rights of the beach resort and give them compensation."

"Give them money?" Grace's eyes widened, her tone filled with resentment. "Over the past ten years, their return on investment has exceeded 500%, enough to buy half of Monaco! Shouldn't they donate it to the people of Monaco for free?"

“They are businessmen, not philanthropists.” Rainier III smiled wryly. He recalled a chance encounter with Chen Guangliang at a casino last year, where Chen casually remarked that “the essence of business is equivalent exchange.” At the time, he hadn’t realized the weight behind those words. “If we don’t provide compensation, European public opinion will condemn us as ‘tyrants who plunder investors,’ and the losses will be greater than the value of the bathing beach.”

Grace fell silent. Of course, she understood the reasoning—her family was originally wealthy Americans who made their fortune in real estate, and they knew better than anyone the importance of "business reputation." But when she thought of Hepburn being the center of attention at the celebration, and of the media comparing Hepburn to her, she couldn't help but grit her teeth: "I hope they'll be sensible and not ask for an exorbitant price."

Three days later, the atmosphere in the palace's drawing room was as heavy as ice. King Rainier III sat in the main seat, with Grace beside him, and Monaco's finance minister and justice minister standing behind them. Chen Guangliang and Hepburn sat opposite each other. Hepburn held a silk handbag in her hand, a habitual gesture when she was nervous, while Chen Guangliang appeared calm, his fingertips casually tracing the carved details on the sofa armrest.

“First of all, I would like to thank Mr. Chen and Miss Hepburn,” Rainier III began, trying to sound as calm as possible. “Over the past ten years, you have made a tremendous contribution to Monaco’s economy. It is your investment that has revitalized the beach and made more people aware of Monaco.”

Hepburn gently bit her lip. She and Chen Guangliang had long anticipated this day—ever since the Monaco government proposed the draft bill for the "nationalization of core assets" last year, they knew the royal family was about to take action. She glanced at Chen Guangliang, who gave her a reassuring look, and she composed herself, preparing to hear what the royal family had to say next. Sure enough, King Rainier III changed the subject, his tone becoming serious: "But Monaco is a sovereign nation. The beach, as the country's most important tourism asset, being controlled by foreigners for so long is detrimental to the country's long-term development. Therefore, we hope that Miss Audrey Hepburn can accept a reasonable compensation payment, transfer all the shares of the beach to the Monaco government, and then… leave this place of trouble."

"A place of trouble?" Hepburn looked up abruptly, her voice filled with obvious disgust. "Your Highness, we are legitimate investors. The agreement signed in 1955 clearly states that we have a 50-year operating right to the beach. Over the years, we have invested more than $5000 million in renovating facilities, expanding our business, and even creating tens of thousands of jobs for Monaco. We love this country and consider it our second home. How can you call this a 'place of trouble'?"

Her words, like a pebble dropped into a pond, shattered the tranquility of the drawing room. Grace immediately picked up the conversation, her tone laced with sarcasm: "Miss Hepburn, we acknowledge your efforts, but please don't forget that your investment has yielded several times the return. How much did you pay for the shares ten years ago? How many times has the beach's valuation increased since then? One should know how to be content."

"Contentment?" Hepburn stood up, the hem of her evening gown sweeping the floor. "The Princess was once American; she should know better than anyone that business reputation is the lifeline of investors. If Monaco can break its agreement with us today, it can break its agreements with other investors tomorrow. Do you think anyone will dare to invest in Monaco then?"

“You…” Grace was speechless, her face flushing instantly. She hadn’t expected that Hepburn, who usually seemed so gentle and elegant, would retort so sharply.

“Alright, ladies, please calm down.” Rainier III quickly smoothed things over. He looked at Chen Guangliang, his tone pleading, “Mr. Chen, I know this puts you in a difficult position, but this is the decision of the Monaco government, and it is for the stability of the country. We do not want things to escalate, and we certainly do not want to affect our friendship.”

Chen Guangliang then spoke slowly, his voice calm yet carrying an undeniable force: "Your Highness, I understand your emphasis on national sovereignty, but an agreement is an agreement. If the Monaco government insists on taking back the operating rights, we can talk, but 'reasonable compensation' needs to have clear standards—after all, many of the guests who come to Monaco are invited by us little by little."

Prince Rainier III frowned. He had originally intended to negotiate a lower price, offering compensation far below the actual valuation, but Chen Guangliang was clearly not so easily fooled.

"Okay, we are willing to start negotiations on this!"

Hepburn played along at the opportune moment, glancing at Chen Guangliang with feigned disappointment: "Your Highness, we didn't want to make a scene. Now that you've made your decision, we have no choice but to accept it. But as my husband said, the compensation must be fair and reasonable. There are many European nobles and wealthy people interested in the beach resort. If the Monaco government is unwilling to offer a reasonable price, we can sell our shares to others—I think they would be happy to take over this valuable asset."

Prince Rainier III's expression changed drastically. This was exactly what he was worried about—if Chen Guangliang sold the shares to other wealthy individuals, such as the Duke of Westminster or the Agnelli family, Monaco would still be unable to control the beach resort and might even attract more formidable rivals. "Alright, we will definitely give you satisfactory compensation," he said through gritted teeth, making a concession.

“No problem.” Chen Guangliang nodded, his tone still calm. “As long as the compensation is in place, we will leave Monaco immediately.”

As they left the palace, the Mediterranean sun was slowly setting, turning the sea an orange-red hue. Hepburn, her arms linked with Chen Guangliang's, walked with heavy steps: "Are we really leaving here? I remember the first time we came here, you taught me to scuba dive, saying that the seawater here was the cleanest in all of Europe."

Chen Guangliang stopped and turned to look at her, reaching out to brush away the stray hairs from her cheek: "Silly girl, we're just transferring shares, it's not like we can never come back. We can be tourists in the future."

Hepburn leaned against him, her voice trembling slightly, "But this place holds so many memories for us... the balloons at the tenth anniversary celebration, the champagne on the terrace, and the words you said to me under the stars..."

“Memories won’t disappear.” Chen Guangliang gently patted her back, his gaze fixed on the distant beach where the lights were already on, like a string of scattered pearls. “And we’ll have new memories. After we’ve dealt with things here, we’ll go skiing in the Swiss Alps, or sunbathing on a beach in Hawaii. You can go wherever you want.”

Hepburn looked up, her eyes still glistening with tears, but slowly a smile appeared on her face: "Really?"

"Of course," Chen Guangliang nodded with a smile.

Compared to Onassis in his previous life, Chen Guangliang and Audrey Hepburn were far more 'difficult to deal with,' and their influence was also much greater. Although they ultimately couldn't avoid leaving Monaco and relinquishing their controlling stake in the beach resort, the Monaco government had to provide them with substantial compensation.

In 1955, Chen Guangliang invested US$12 million, which was a huge sum at the time; in the years that followed, the beach continued to reinvest its profits, and the total investment has long exceeded US$50 million.

The dividends she received over the years amounted to approximately $6000 million, all of which she gave to Audrey Hepburn to invest in European securities and stocks.

This time, it's time for Audrey Hepburn's wealth to be upgraded! (End of Chapter)