Enzo's once illegitimate son now a billionaire

Discussion in 'Ferrari Discussion (not model specific)' started by bitzman, Feb 15, 2023.

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  1. bitzman

    bitzman F1 Rookie
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    wallace wyss
    I am writing a news story on Piero Ferrari but may be unaware of some details that Fchat members know. Here's what I got so far,


    Ya gotta give 77-year old Piero Ferrari credit for remaining in the background when he first came to Ferrari as an engineer under the name Piero Lardi. He was the son of Enzo but his mother was Ferrari's mistress. He changed his name only after his mother died.

    Bloomberg estimates "Piero Ferrari's shares have a net worth of $5.6 billion through a roughly 10% stake in the supercar maker, making him the world’s 467th-richest person, according to the Bloomberg Billionaires Index.
    Born 22 May, 1945, he is the second son of Enzo. The first,, Dino, died in his 20's. Dino is more well known because Piero couldn't change his name until after that date. His mother Laura died 27 Feb. 78.
    A real irony is that Enzo went to great lengths to keep his secret son away from Dino,. Dino, an engineer at Ferrari before Piero, engineered a V6 engine and race cars until he became a victim of Duchenne muscular dystrophy, and died on 30 June 1956, at the age of 24. Piero never met his older brother.
    Actually Piero's been a billionaire since 2015 following the New York IPO of the company his father fondued six decades earlier. The stock has gone up more than 400% and also boosted the fortune of the Agnelli family who are Ferrari’s largest shareholder with a 24% stake through holding company Exor NV.

    Enzo died in 1988 at age 90.

    Piero Ferrari’ has been vice chairman since 1988, and also owns a stake in Italian luxury yacht builder Ferretti Group and is chairman of engineering services firm HPE COXA. In December he set up a family trust for his descendants, though he retains voting control over the shares during his lifetime.

    I have seen him at events like Pebble Beach and I think, like his father, he has a hand on the pulse of his car's fans.

    He seems to , unlike his father, be supportive of changing the products to coincide with public taste such as welcoming the SUV Purosangue, and hybrids and may soon vote on green-lighting a full electric bearing the crest of the prancing horse.
    Anything I left out?




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  2. Viperjoe

    Viperjoe F1 Rookie
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    Great summation. Thanks.


    Sent from my iPhone using FerrariChat
     
  3. paulchua

    paulchua Cat Herder
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    You got his father not caring about the public half wrong. I argue his dad could care less what you think about his road cars, but I do think Enzo definitely cared if they could make money for SF. Which makes all these shingles about the direction of the Ferrari Spa funny. There is only one place for purists and that’s IMSA or FIA. Guess this is what fast n furious with cars flying out of skyscrapers had done to the public critical of Spa losing their way.
     
  4. Doug.

    Doug. F1 Rookie
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    I thought he had been a billionaire for a long time.
     
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  5. paulchua

    paulchua Cat Herder
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    Yes and no, in the sense that Pierro always had 10% ownership of Ferrari, but that was locked up within Fiat.

    Market cap of Ferrari went from 9B (so his slice of the pie was 900M) to 50B (5B)
     
  6. papou

    papou Formula 3
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    daniel ross
    Sad that in 2023 we still use the term illegitimate son as a description.
     
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  7. Doug.

    Doug. F1 Rookie
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