Princess Charlene of Monaco is now a proud mom of twins!

The royal consort gave birth first, to a baby girl, and, next, to a baby boy.

Princess Charlene's pregnancy was announced May 30, although it was not until October that it was found out that she was carrying twins.

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This is the first time that twins have been born to the royal family since the tiny principality was founded in 13^th century.

Forty-two cannon shots were fired after the birth of the much awaited royal babies.

However, only one will inherit the throne, and the baby boy will become the principality's future sovereign prince. Monaco gives priority to male heirs as provided by its laws of succession.

The royal was named Gabriella Therese Marie, while the boy, Jacques Honore Rainier

Gabrielle was born at 5:04 p.m. while baby Jacques followed two minutes after, a palace statement can reveal.

While they are prince and princess of Monaco by birth, the two will also receive titles of nobility. Gabrielle will be conferred Countess of Carladès, while Jacques will be given the title Marquis of Baux.

Despite its diminutive size, Monaco is a very wealthy country and the two is bound to inherit their father's multi-billion dollar personal fortune.

The twins' father, Albert II, has been ruling the tiny principality since his father's death in 2005. The son of American screen legend, Princess Grace, his long bachelorhood and lack of a legitimate heir has stressed the royal family. Although he fathered two children from previous relationships, they cannot inherit the throne since they were born out of wedlock.

Prince Albert married Charlene Wittstock, a former Olympian from South Africa, in July 2011.

In an interview with Associated Press, the Prince said that he and his wife were 'overjoyed', 'thrilled' and 'very excited' with the birth of their child-or children-as it was then unknown that the Princess was carrying twins.

Monegasques can't contain their happiness with the birth of the royal babies.

"Two babies for the price of one. I think it's very good for the image," Adelaide de Clermont-Tonnerre, editor-in-chief of the celebrity weekly Point de Vue, quipped, adding there's always an extra interest when talking about twins.

In 2002, with all hopes exhausted that Prince Albert would marry and give birth, Prince Rainier III quietly revised Monaco's constitution to allow his two daughters, Caroline and Stephanie, and their heirs, to inherit the throne. The old provision stated that in the absence of a male heir, Monaco would cede sovereignty to France.

TagsPrincess Charlene of Monaco, princess charlene gives birth to twins, Prince Albert of Monaco, Monaco