Piero Ferrari is the heir of one of the biggest legends in automotive history. Let’s see the net worth and story of Ferrari’s heir.
Elegance, beauty and speed. These are the trademarks of Ferrari, one of the most recognizable car brands in the world. Many others have tried to copy, or even surpass, Ferrari’s success but with no avail. The Italian company simply did it better.
As many other Italian brands, Ferrari too has a long history of entrepreneurs that run it more or less successfully. Today, the heir of the “original” Ferrari is Piero, one of Italy’s richest men. But what is his net worth exactly?
Piero is the second son of Enzo. Born in an extra-marital relationship, Piero would be recognized only decades after because of Italian law. Piero was born in 1945, days after the end of World War II. At the time, Italy still was a social backwater, where divorce was illegal.
In 1978, when his stepmother passed away and Italy had finally moved on from their most conservative laws, Piero was finally acknowledged as Enzo’s heir.
Nevertheless, he already started working in Enzo’s company: Ferrari. The brand was born in 1929 and initially focused only on race cars. Indeed, Ferrari remained for decades the reference point for any race car manufacturer. If there was a prize to be won, Ferrari always snatched it with record times.
Only in 1947 did Ferrari start building cars for commercial purposes. And even there, they always came on top.
Piero and Ferrari
Despite being Enzo’s illegitimate son, Piero started working at Ferrari at a very early age. He was initially the company’s English translator. Later, he would be appointed as liaison between Ferrari’s racing and commercial divisions, where he developed a passion for mechanics and engineering.
Enzo Ferrari died in 1988 at 90 years old, and Piero was appointed as sole heir of the father’s entire fortune. Piero became vice-president of Ferrari and acquired the father’s 10% share of the company.
Enzo was, and still is, considered a legend in the automotive industry. Ferrari undoubtedly changed car manufacturing forever with its brilliant combinations of clever engineering and elegant design. It was now Piero’s job to continue the father’s legacy.
However, Piero Ferrari would be overshadowed by new, more charismatic presidents. Today, the Ferrari brand is more closely associated with the powerful Agnelli family rather than Piero.
Nevertheless, under Piero shared leadership, Ferrari grew as a brand and as a company. Ferrari acquired 12% of the Ferretti Group, a luxury manufacturing company.
In 2015, Ferrari finally went public and Piero’s net worth could finally be evaluated. With his 10% shares inherited by the father, Piero’s net worth amounts to $5,5 billion today, making him Italy’s fourth richest man.
Though Ferrari lost ground in races to new, more modern German brands, it remains a reference point in car history and manufacturing.