Piero Ferrari Net Worth

Table: Piero Ferrari Net Worth

What is Piero Ferrari’s Net Worth?

Piero Ferrari, an Italian businessman, has a net worth of $5.2 billion. He is the second and only living son of Enzo Ferrari, the renowned automotive entrepreneur. Piero owns a 10% stake in the Ferrari automotive company and serves as its Vice Chairman. He is also the owner of a little over 13% of the Ferretti Group, a multinational shipbuilding company. Piero’s net worth reached billionaire status when Ferrari went public in October 2015, and it continued to grow significantly with the increase in Ferrari’s stock price.

Highlights

– Piero Ferrari has a net worth of $5.2 billion.
– He is the second and only living son of Enzo Ferrari.
– Piero owns 10% of the Ferrari automotive company and serves as its Vice Chairman.
– He also owns a little over 13% of the Ferretti Group.
– Ferrari’s net worth has grown significantly since the company went public in 2015.

Early Life

Piero Ferrari was born on May 22, 1945, in Castelvetro di Modena, Italy. He is the son of Enzo Ferrari and his mistress, Lina Lardi. Piero had a half-brother named Dino, who unfortunately passed away from muscular dystrophy in 1956. Growing up near his mother’s house in Modena, Piero developed an interest in mechanics while spending time in a nearby bike repair shop. He later pursued his passion by studying mechanical engineering at the Fermo Corni Institute, where he graduated in 1964.

Career

In the late 60s, Piero Ferrari started working informally for the family company as an English translator. He was eventually hired as an official technical supervisor in the early 70s, responsible for describing, listing, and archiving defective car parts. One of his crucial roles was serving as a liaison between the road car and racing divisions, which provided him with valuable knowledge about the factory’s operations.

By 1974, Ferrari joined the Formula One team as a co-organizer, working closely with sporting directors Daniele Audetto and Luca Cordero di Montezemolo. As time passed, he became more involved in the production of road cars and played a significant role in the development of iconic Ferrari models like the F40, F50, and LaFerrari.

After Enzo Ferrari’s passing in 1988, Piero inherited his father’s 10% share of the company and became the sole heir of the Ferrari legacy. The following year, he was appointed Vice Chairman of the company by then-president Vittorio Ghidella. In 2013, Piero made history as the first Ferrari family member to step onto the podium at a Formula One race when he collected the trophy for Fernando Alonso’s victory in the Chinese Grand Prix.

Personal Life

Piero Ferrari is married to Floriana Nalin, and they have a daughter named Antonella. He also has two grandsons named Enzo and Piero. Piero continues to reside in his father’s old residence in Modena, his hometown.

Apart from his business endeavors, Piero is actively involved in philanthropy. Inspired by his brother’s battle with muscular dystrophy, he supports the Centro Dino Ferrari, a research center for muscular and neurodegenerative conditions co-founded by his father.

Net Worth Over Time

In May 2019, Piero Ferrari’s net worth was estimated at around $3 billion, ranking him at number 838 on the world’s billionaires list. By April 2020, his net worth had grown to approximately $3.4 billion, moving him up to number 680 on the list. In June 2021, he dropped to number 705 but saw a surge in net worth, reaching $4.7 billion. As of now, Piero Ferrari’s net worth stands at an impressive $5.2 billion.

Components of Net Worth

The majority of Piero Ferrari’s net worth comes from his ownership stake in the Ferrari automotive company, which amounts to a 10% share. Additionally, he owns over 13% of the Ferretti Group, contributing to his overall wealth. The increase in Ferrari’s stock price and the successful growth of the Ferretti Group have significantly impacted the growth of Piero Ferrari’s net worth over time.

In summary, Piero Ferrari’s successful career at Ferrari, his ownership in the Ferretti Group, and his strategic investments have made him a billionaire with a net worth of $5.2 billion. As a prominent figure in the automotive industry, Piero Ferrari continues to play a vital role in preserving his father’s legacy and contributing to the success of both Ferrari and the Ferretti Group.

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