10/25/2012 04:46 pm ET Updated Oct 25, 2012

Princess Madeleine Engaged: 10 Other Royals Who Married 'Regular' People (PHOTOS)

Get ready for a royal wedding with a little American flair.

On Thursday, Sweden's Princess Madeleine announced her engagement to New York City financier Chris O'Neill in a short video released on the royal palace website.

"Chris proposed to me in New York at the start of October, and we are very happy," said Madeleine, who at 30, is the youngest child of King Carl XVI Gustaf and Queen Silvia and fourth in line to the throne.

In 2010, the princess broke off an earlier engagement to lawyer Jonas Bergstrom amid reports that he had been unfaithful.

So what do we know about her new fiance? According to a report released by the palace, O'Neill was born in London and holds dual American and British citizenship. After attending boarding school in Switzerland, the 38-year-old future prince obtained a bachelor's degree in international relations from Boston University and a master's degree from Columbia Business School in New York.

Today, O'Neill works as partner and head of research at Noster Capital, a hedge fund with offices in London and New York. He met Madeleine in New York, where she works for the World Childhood Foundation, a nonprofit founded by her mother.

The wedding is set to take place in Sweden in the summer of 2013.

Princess Madeleine isn't the first royal who found love with a commoner. Click through the slideshow below for 10 more royal-commoner unions.

Royals Marry Commoners