
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

Manuel Litran/Corbis: Enzo and Lina were in a relationship until his death in 1988
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

ermess/Deposit Photos: Piero reportedly helped develop several Ferrari models like the F40
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

livephotosport/Deposit Photos: Piero continues to live in his late father’s home in Modena
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
-
`
Daniel Dubois: The Next British Heavyweight Superstar
Heavyweight boxing has seen some of the most exciting moments in the history of sports. From the legendary matchups of Muhammad...
July 12, 2023 -
`
Adrian Griffin: Introducing the New Milwaukee Bucks Head Coach
The Milwaukee Bucks’ search for a new head coach finally ended with the announcement that Adrian Griffin would be assuming the...
July 7, 2023 -
`
Which Driver Has the Most F1 Wins?
The world of Formula One (F1) has always been exciting, with drivers pushing their cars to the limit, racing against each...
July 1, 2023 -
`
Explained: What Are the NHL Playoff Overtime Rules?
The National Hockey League (NHL) is the most popular hockey league in North America and is well-known for its unique overtime...
June 25, 2023 -
`
The Thrilling Journey of the Premier League
The Premier League is the pinnacle of English soccer, captivating fans worldwide with its thrilling matches, star-studded teams, and rich history....
June 16, 2023 -
`
Gervonta Davis: The New Face of Boxing?
Since his professional debut in 2013, Gervonta “Tank” Davis has become one of the brightest stars in boxing. He is now...
June 8, 2023 -
`
The Best Players in the NBA Playoffs: An Exclusive List
When it comes to the playoffs, there are some players who manage to really shine. These are the players who never...
June 2, 2023 -
`
Aaron Rodgers’ Achievements
Aaron Rodgers is one of the most successful quarterbacks in the National Football League (NFL) history. He has accomplished numerous achievements...
May 26, 2023 -
`
Eugene Hall: The Staggering Net Worth of the NFL Great
Eugene Hall is a former professional football player and NFL referee who has earned an impressive net worth throughout his long...
May 18, 2023
You must be logged in to post a comment Login