When you think "royalty," who comes to mind? You probably pictured a famous ruler like Queen Elizabeth II of England or King Felipe VI of Spain. But despite their titles, these rulers don't actually have much governmental power. Are there monarchs who actually rule? Most definitely - though they aren't always the most benevolent leaders.
Real-life powerful royals rule with varying degrees of authority all over the world. The individual rulers of each of the United Arab Emirates, for example, hold lots of sway, while King Salman of Saudi Arabia is well-known for being an autocrat. In Europe, Prince Hans-Adam II of Liechtenstein exercises considerable control over his tiny monarchical country. The same goes for Prince Albert of Monaco.
Thankfully, the days of brutal medieval monarchs are long over. But modern monarchies with real power continue to thrive.