Enzo Ferrari established Scuderia Ferrari in the 1950s, and since then, the brand has continuously evolved. After Enzo’s passing, the responsibility for managing the affairs fell to his son, Piero Ferrari. Piero became the sole heir after the demise of his stepbrother and Enzo’s first son, Alfredo Dino, who succumbed to muscular dystrophy in 1956.
Following these events, Piero assumed the role of vice chairman and acquired a 10% ownership stake in the prestigious luxury race car company. Moreover, in 2015, it was revealed that Ferrari had gone public by listing its shares on the New York Stock Exchange, thereby boosting Piero into the ranks of billionaires.
Even before achieving the status of a billionaire, Piero Ferrari has exemplified his philanthropic spirit. After the loss of his stepbrother, he has been actively backing Centro Dino Ferrari. His father founded the center in memory of Dino to actively research muscular and neurodegenerative diseases.
However, in line with the typical billionaire lifestyle, Piero also owns several yachts and holds a stake in the Ferrari Group, an Italian luxury yacht builder. However, when not indulging in these extravagant pursuits, Piero dedicates time to deepening his connection with his grandson, whose name is also Enzo.
At the recent Cavalcade Classiche, Piero drove an F50 while his grandson, Enzo, drove an F40. This showcased a strong bond between them.
While explaining his bond with his grandson, Piero expressed, ” I have always been very close to my grandchildren. I treasured any opportunity to spend time with them, be it skiing or behind the wheel.”
Is Ferrari still owned by the Ferrari Family?
Enzo Ferrari’s journey into the world of automotive excellence began in 1939 when he departed from Alfa Romeo to create his own path, establishing Scuderia Ferrari. This marked the inception of a powerhouse in the automotive industry, reflecting his passion and precision. Recognizing the need for industrial expansion, the Italian brand underwent changes, transitioning into a Limited Company in 1960.
However, a pivotal moment occurred in 1969 when FIAT entered the scene, acquiring a 50% stake in Ferrari. This partnership proved catalytic, setting the stage for transformative growth. By 1988, FIAT’s influence expanded further, securing a 90% ownership stake, with Enzo Ferrari retaining the remaining 10%.
However, the passing of Enzo in 1988 ushered in a new era, with his son Piero inheriting the 10% stake and carrying forward the family legacy. Interestingly, subsequent years saw significant restructuring, leading to the establishment of Ferrari N.V. as the holding company, with (Owners of FCA) holding a 22.91% stake.
Nevertheless, as time passed, the Italian company’s ownership landscape exhibited a dynamic distribution in 2020. The majority, 67.09%, was held by the public, showcasing trust from Ferrari enthusiasts. Meanwhile, Exor N.V., retained a 22.91% stake, thereby highlighting the enduring partnership with the FIAT group. And at last Piero Ferrari maintained a 10% stake, thereby preserving his father’s legacy.
The outlined ownership structure underscores a clear narrative that the public’s majority stake goes beyond symbolic significance. It reflects a profound connection with the brand and, more importantly, empowers the public with a substantial voice in decision-making.
