Prince Albert Powers Next Generation of Stars in Mother Princess Grace's Name: She Knew the 'Struggle' (Exclusive)

Mar. 15, 2025

(Left) Prince Albert at the Princess Grace Awards 40th Anniversary Gala at The Pierre Hotel in New York City on Oct. 23, 2024; (Right) The future Princess Grace with her Academy Award for Best Actress for “The Country Girl” at the 27th Academy Awards in Los Angeles, California on March 30, 1955.Photo:Dominik Bindl/Getty; Getty

Dominik Bindl/Getty; Getty

Honorees at the Princess Grace Awards 40th Anniversary Gala at The Pierre Hotel on Oct. 23, 2024 in New York City.Jared Siskin/Patrick McMullan via Getty

Jared Siskin/Patrick McMullan via Getty

Two years later, the foundation launched the Princess Grace Awards to support and elevate aspiring talent in the arts. Notable previous winners include luminaries such asLeslie Odom Jr,Oscar Issac,John M. Chu,Stephen Hillenburgand ​​Chinonye Chukwu.

Statue Award winners Branden Jacobs-Jenkins and Lila Neugebauer at the Princess Grace Awards 40th Anniversary Gala at The Pierre Hotel on Oct. 23, 2024 in New York City.Jared Siskin/Patrick McMullan via Getty

“It’s a great satisfaction, and it’s also inspiring to see that my father’s commitment to carry on my mother’s legacy and her passion to support the arts community has impacted so many lives,” Prince Albert tells PEOPLE.

“My mother really wanted to recognize young talent in these fields and help them because it’s never easy at the beginning of a career in the arts. It’s a long road to success, and it’s a struggle. She knew that, and she wanted to help these young emerging talents.”

The future Princess Grace on the set of “Rear Window” in 1954.Paramount Pictures/Sunset Boulevard/Corbis via Getty

“A lot of our Princess Grace Award winners over the years have gone on to incredible success in their different fields. There are some Pulitzer Prizes, some Emmy Award winners and some Oscar winners. So it’s a great satisfaction for all of us at the foundation to see that happen,” says the royal.

Speaking to PEOPLE at the awards gala, Douglas says, “It’s a great opportunity to raise money for new artists.” Of his own award, he adds, “I’m honored because I knew Grace Kelly when I was a young man. I remember her quite well, and she was a stunning person. She had an inner flame — she shined from the inside out.”

In his speech, he called Prince Albert “an incredibly wonderful friend,” adding that receiving the award was “humbling.”

“It connects me to a tradition of inspiring artists and a mission that uplifts the next generation of talent. And it began with Princess Grace’s own belief in the power of art in transforming lives, a belief that the foundation continues to embody today,” Douglas said.

Prince Albert says artists who give back to their communities inspire others who are just beginning their journeys.

“That’s why also it was important to recognize someone like Michael Douglas, who is not only a tremendous actor and a great friend of my family, but also a philanthropist. He’s engaged in many different causes, some very worthwhile causes,” he says.

Michael Douglas and Prince Albert at the Princess Grace Awards 40th Anniversary Gala at The Pierre Hotel on Oct. 23, 2024 in New York City.Dominik Bindl/Getty

Dominik Bindl/Getty

Albert is the father of 9-year-old twins,Prince JacquesandPrincess Gabriella, with his wife,Princess Charlene, who the royal says remained home in Monaco with their kids during his quick trip to N.Y.C. He also has a son, Alexandre Grimaldi, and a daughter, Jazmin Grace Grimaldi (from previous relationships). Jazmin attended the event and joined Albert on the red carpet, posing together for photos.

Prince Albert and Jazmin Grace Grimaldi at the Princess Grace Awards 40th Anniversary Gala at The Pierre Hotel on Oct. 23, 2024 in New York City.Dominik Bindl/Getty

Princess Grace began her acting career in 1950 at age 20 in New York City, making New York a fitting place to commemorate the 40th anniversary of the awards.

According to her son, what the Philadelphia-born princess loved most about New York was its energy.

Alfred Hitchcock and Princess Grace at the Film Society Tribute to Alfred Hitchcock at Lincoln Center in New York City in April 1974.Ron Galella/Ron Galella Collection via Getty

Ron Galella/Ron Galella Collection via Getty

“She loved the atmosphere. Of course, it probably has changed a lot since when she was a young actress, trying to land different roles in theater, film and television,” Prince Albert tells PEOPLE. “She loved, for instance, walking in the park, which [I] did yesterday with my relatives.”

“She would point out different points of interest when we were there with her. The theaters up Broadway and different iconic landmarks. She just loved to reconnect, once in a while, with New York and the incredible artistic and cultural scene,” Prince Albert says. “It’s always been a feature of that great city.”

Prince Albert at the Princess Grace Awards 40th Anniversary Gala at The Pierre Hotel on Oct. 23, 2024 in New York City.Dominik Bindl/Getty

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Thinking about the future of the Princess Grace Foundation, the prince tells PEOPLE that what excites him most is “the recognition of talent. The breadth of creative artists — from animators, theater directors, designers, playwrights, choreographers, dancers, and filmmakers. We cover the whole spectrum of performance-based creations.”

“It’s working very well and has worked over the past 40 years with an amazing track record,” he says. “We will continue in this way and in this vein to keep identifying the promising talents of tomorrow and to get them on their way. I think there’s a very good future, and we have a very good team at the foundation that’s very dedicated. There is no reason why it should not continue to go from strength to strength and from success to success.”

source: people.com