Ferrari’s Sole Heir has a $4.1 Billion Fortune and a Life Story Straight Out of a Movie
Iconic brands often have interesting backstories and Ferrari is no exception. In fact, the story of how the Italian automaker’s ownership was passed on to Piero Ferrari, the only surviving heir of its founder Enzo, has enough material for a compelling movie.
Let’s find out more about the 75-year-old businessman and how he finally inherited the lucrative business his late father built.
Complicated Childhood
Piero was born in 1945 to Enzo and Lina Lardi, who was reportedly the racecar driver’s mistress. Because he was born from an extramarital affair, Piero wasn’t publicly acknowledged by his own father until his legal wife, Laura, passes away in the late ‘70s.
That didn’t stop Enzo from being involved in his son’s life though. Growing up, Piero was discouraged by his father from getting into the family business and was even forbidden from sitting in racecars when he was a kid.
Thus, Piero ended up pursuing higher education and earned a mechanical engineering degree from the University of Modena.
Getting in the Business
He would go on to start working for his father as an English translator and, eventually, as a production supervisor and a racing department organizer.
Piero also got to use his degree on the job as he was tasked to list and archive defective car components. The same responsibility made him an important fixture between the road car and racing departments of the company.
By the 70s, Piero would move on to join the Formula One team to work with directors Daniele Audetto and Luca Cordero di Montezemolo.
Sole Heir
Now, all this time Piero he wasn’t allowed to take his father’s surname because divorce wasn’t recognized in Italy until the ‘70s
He was only able to take the Ferrari name when his father died. Not only that, but he also inherited the family fortune.
Two years later, Piero would finally be able to legally change his name to Piero Ferrari.
His inheritance included Enzo’s stake in Ferrari as well as the private racetrack the Fiorano Circuit. Piero would officially become a billionaire in 2015 when the Italian automaker went public.
He retains a 10% ownership stake in Ferrari today and boasts of a net worth of around $4.1 billion.
In 2013, he made family history when he became the first member of the Ferrari clan to ascend the podium of a Formula One race to accept the trophy at the Chinese Grand Prix. The race was won by racecar driver Fernando Alonso.
More in Latest News
-
`
Former WWE CEO Vince McMahon Calls Saudi Arabia “The Home of WWE”
In a world where sports entertainment constantly evolves, Saudi Arabia has emerged as a new hub, captivating the interest of international...
December 8, 2023 -
`
Tyson Fury vs Oleksandr Usyk: A Historic Heavyweight Title Fight is All Set in Saudi Arabia
The boxing world is abuzz with anticipation for a historic event that promises to be a monumental clash in the annals...
December 2, 2023 -
`
LA Lakers Shooting Guard D’Angelo Russell Aspires to Be Derrick White
In the world of professional basketball, players often look to their peers for inspiration and guidance. For Los Angeles Lakers shooting...
November 26, 2023 -
`
F1 Rumor Mill: Lewis Hamilton’s Secret Contract Talks With Ferrari
In the thrilling world of Formula 1, where high-speed races and cutting-edge technology reign supreme, the off-track drama often captures just...
November 19, 2023 -
`
Is Saudi Arabia ‘Sportswashing’ Soccer’s World Order?
When it comes to soccer, Saudi Arabia is making headlines for all the right reasons – or so it seems. The...
November 11, 2023 -
`
How Dillon Danis Vs. Logan Paul Ended With a Shocking Disqualification
In the electrifying world of professional boxing, there are fights that leave fans awestruck. And then there are fights that make...
October 31, 2023 -
`
Jordi Fernandez: The NBA’s Next Coaching Prodigy With a Canadian Twist
The world of basketball is a place where legends are born, games are won, and coaching stars rise out of seemingly...
October 29, 2023 -
`
Daniel Ricciardo’s F1 Comeback: The Honey Badger Is Back!
Formula 1 fans have eagerly awaited the return of Australian driver Daniel Ricciardo, who suffered a hand injury in a dramatic...
October 22, 2023 -
`
Saudi Pro League: Big Name Star Players That Are ‘Transferring’ to the Middle East
There was a time when the Saudi Pro League was a name known mainly within its borders. Fast forward to today,...
October 13, 2023
You must be logged in to post a comment Login