| Net Worth | Salary | Birthdate | Birthplace | Gender | Height | Profession | Nationality |
|---|---|---|---|---|---|---|---|
| $50 million | N/A | February 20, 1898 | Modena, Italy | Male | N/A | Motor racing driver, manager, entrepreneur | Italian |
What is Enzo Ferrari’s Net Worth?
Enzo Ferrari, a renowned Italian motor racing driver, manager, and entrepreneur, had a net worth of $50 million at the time of his death in 1969, after adjusting for inflation.
Highlights
– Enzo Ferrari founded his eponymous racing team and luxury sports car company.
– Nicknamed “Il Commendatore,” Ferrari was known for his aggressive, autocratic management style.
– Enzo Ferrari sold 50% of Ferrari to Fiat in 1969 when the company was struggling.
– Enzo’s only surviving son, Piero Ferrari, inherited a 10% stake in Ferrari upon his father’s death.
Early Life
Enzo Ferrari was born on February 20, 1898, in Modena, Italy. He was the younger of two children, with his older brother being Alfredo Jr. Ferrari did not receive much formal education and was inspired to become a racing driver after witnessing a race in 1908. Unfortunately, Ferrari lost his father and brother in 1916 during a flu outbreak and faced health issues himself during the 1918 flu pandemic.
Career
After his family’s carpentry business collapsed, Ferrari began his career in the automobile industry as a test driver for CMN, a car manufacturer in Milan. He later became a race car driver for Alfa Romeo in 1920. Ferrari achieved success as a racing driver, winning his first Grand Prix in 1923.
In 1939, Ferrari left Alfa Romeo due to a disagreement with the company’s managing director and founded Auto-Avio Costruzioni, which supplied parts to other racing teams. After World War II, Ferrari established his own automobile manufacturing company and returned to racing management. Scuderia Ferrari, the team he founded in 1929, continued to achieve victories in Formula One’s World Championship of Drivers.
Personal Life
Enzo Ferrari was married to Laura Garello from 1923 until her passing in 1978. They had a son named Alfredo, who tragically died from muscular dystrophy in 1956. Ferrari also had a son named Piero with his mistress, Lina Lardi, in 1945.
Net Worth Over Time
Enzo Ferrari’s net worth at the time of his death is difficult to determine precisely. Despite being the founder of one of the most famous luxury car companies, Ferrari operated at a loss during his lifetime. In 1969, Enzo sold 50% of Ferrari to Fiat for $11 million when the company was struggling. Upon his death, the Agnelli family exercised an option to buy an additional 40% of the company for $13.6 million. The remaining 10% stake was inherited by his only surviving son, Piero, whose stake is now worth more than $5 billion.
Additionally, Enzo Ferrari’s personal collection of Ferraris, which were valuable during his lifetime, have appreciated significantly in value. For example, a 250 GTO that was worth less than $100,000 at the time of his death in 1988 is now valued at $70 million.
Components of Net Worth
Enzo Ferrari’s net worth was primarily derived from his ownership stake in Ferrari and the appreciation of the company’s value over time. He also generated income from various racing endeavors, including Formula One, Le Mans, and the Mille Miglia. Ferrari’s personal collection of valuable sports cars also contributed to his net worth.
Overall, Enzo Ferrari’s net worth was built on his successful racing career, entrepreneurial ventures, and the iconic luxury sports car brand he created.