Grace Kelly is a Hollywood icon whose life story is a blend of glamour and tragedy. Known for her roles in Alfred Hitchcock films and as the on-screen love interest of stars like Cary Grant and William Holden, she transitioned from an acting career to becoming the Princess of Monaco by marrying Prince Rainier III in 1956. Their wedding captivated a global audience, with 30 million people watching the fairytale event.
However, her sudden death in 1982, caused by a stroke while driving that led to her car plunging into a ravine, revealed a surprising reality: the 52-year-old princess had only $10,000 to her name and a single cottage in County Mayo, Ireland, which had belonged to her grandfather.
A documentary titled “Grace Kelly: The Missing Millions,” which airs at 9 pm on March 27 on Channel 5, explores the reasons behind Kelly’s modest financial situation despite her illustrious career. The film retraces her life, from her teenage years in Philadelphia to her untimely death in Europe, and examines how she was inadequately compensated for her work. Notable contributors to the documentary include novelist and playwright Bonnie Greer, history professor Kate Williams, and wealth advisor Gemma Godfrey, who reviewed Kelly’s Hollywood contracts and will for the film.
Born to a wealthy family in Pennsylvania, Grace Kelly’s early aspirations were met with resistance from her father, an Olympic rower, who disapproved of her acting ambitions. Undeterred, Kelly moved to New York City, where she supported herself as a model while auditioning for Broadway roles. Her talent quickly caught Hollywood’s eye, and she made her film debut in “High Noon” (1952).
Kelly’s breakthrough came with “Mogambo” (1953), a Kenya-set romance featuring Clark Gable and Ava Gardner. Her star continued to rise under the direction of Alfred Hitchcock, who cast her in “Dial M for Murder” (1954) alongside Ray Milland, with whom she had a well-publicized affair, and “Rear Window” (1954), considered one of Hitchcock’s masterpieces. Her performance in “The Country Girl” (1954) earned her an Oscar, but also subjected her to negative press, branding her a husband thief due to her on-set relationships with Gary Cooper and Gable.
Despite her success, Kelly’s Hollywood tenure was marred by the double standards of the era. Her male co-stars did not face the same scrutiny for their off-screen affairs. Furthermore, Kelly was underpaid compared to her male counterparts. For her role in “To Catch a Thief” (1955), she was paid $5,000, while Cary Grant received $18,750. In “Mogambo,” Gable earned $5,000 per week, whereas Kelly was paid only $750.
These inequities, along with relentless media vilification, led Kelly to seek a way out of Hollywood, despite her rising stardom and critical acclaim.
When Grace Kelly met Prince Rainier III of Monaco, it appeared to be an escape from the misogynistic world of 1950s Hollywood. However, their romance began with financial complications. According to “Grace Kelly: The Missing Millions,” Kelly had to provide a $2 million dowry to the House of Grimaldi, depleting her entire fortune and requiring additional funds from her parents. Following her marriage, Kelly stopped acting, reportedly at her husband’s behest, a decision she later deeply regretted.
Wealth advisor Gemma Godfrey suggests that if Kelly had been able to continue her acting career and monetize her relationship with fashion brands, her estate could have been worth $50 million at her death. Her contemporaries, Audrey Hepburn and Doris Day, accumulated hundreds of millions of dollars in assets. Godfrey emphasizes, “She was a complete trailblazer—modeling, acting, and [working with] brands as well. That’s why it’s such a shame that she wasn’t allowed to do what she loved.”
