The fourth smallest country of Europe
Liechtenstein was in dire financial straits following the end of the war in Europe. The Liechtenstein dynasty often resorted to selling family artistic treasures, including the portrait "Ginevra de' Benci" by Leonardo da Vinci, which was purchased by the National Gallery of Art of the United States in 1967 for $5 million ($36 million in 2016 dollars), then a record price for a painting. However, by the late 1970s, it used its low corporate tax rates to draw many companies to the country, becoming one of the wealthiest countries in the world. The Prince of Liechtenstein is the world's sixth wealthiest monarch with an estimated wealth of 5 billion USD. The country's population enjoys one of the world's highest standards of living.