Piero Ferrari

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Piero Ferrari
2012-02-26 Piero Ferrari at Museo Enzo Ferrari, Modena.png
Ferrari in 2012
Born
Piero Lardi

(1945-05-22) 22 May 1945 (age 78) [1]
Castelvetro di Modena, Kingdom of Italy
OccupationBusinessman
TitleVice chairman, Ferrari
Chairman, HPE COXA
Board member ofFerrari
Ferretti Group
SpouseRomina Gingașu
Children1
Parents
Relatives Dino Ferrari (half-brother)

Piero Ferrari (born Piero Lardi, then Piero Lardi Ferrari; 22 May 1945 [1] ) is an Italian billionaire businessman and sport personality. He is the second and only living son of Enzo Ferrari, and a 10.23% [2] owner of the Ferrari automotive company, of which he is the vice chairman. He owns 13.2% of the Ferretti Group. As of April 2024, his net worth was estimated at US$8.6 billion. [3]

Contents

Early life

Piero Ferrari is the son of Enzo Ferrari (20 February 1898 [4] – 14 August 1988) and his mistress, Lina Lardi (1911–2006). [5] He is also the younger half-brother of Dino Ferrari (19 January 1932 [6] – 30 June 1956 [7] ). Dino had been diagnosed with Duchenne muscular dystrophy, [8] and died on 30 June 1956, at the age of 24. [7] Piero never met his older brother in life, despite being 11 years old at the time of Dino's passing. [9]

After Dino's death, Enzo made Piero one of his principal heirs, giving him a 10% stake in the Ferrari company. [10] Enzo had met Lina Lardi in the late 1930s, when she was working at Carrozzerie Orlandi, a coachbuilder company in Modena. The two began a romantic affair soon after; their son, Piero, was born on 22 May 1945; [1] and Enzo and Lina continued their relationship until Ferrari's death in 1988. [11] As divorce was illegal in Italy until 1975, Piero could not be acknowledged as a Ferrari family member until the death of Enzo's estranged wife, Laura, on 27 February 1978. [12] [13] In 1990, he legally changed his name from Piero Lardi Ferrari to Piero Ferrari. [14]

Ferrari grew up in Modena. He became passionate about mechanics by hanging out in a bike repair shop close to his mother's home. [15] In 1964, he obtained a high school diploma with the mechanics course of the Fermo Corni Technical Institute in Modena, an istituto tecnico industriale . [16]

Career at Ferrari

In 1969 Ferrari started working informally for the family company as an English translator for his father. In the early 1970s he was officially hired as technical supervisor, with the task of listing, describing and archiving defective or ineffective car components. One of his early jobs was taking the drawings and parts of the 196 Dino to the GT department, acting as a bridge between the road car and racing division. In doing so, he earned considerable experience about the operational dynamics of the factory. [17]

In 1974 he was moved to the Formula One team, where he worked as a co-organiser, assisting sporting directors Luca Cordero di Montezemolo and Daniele Audetto. In the mid-1980s he became supervisor of the production of road cars, where he helped developing concepts for the low-volume Ferrari F40, Ferrari F50 and LaFerrari. [17]

In 1988, when Enzo Ferrari died, Piero was the sole heir of the Ferrari family and inherited his father's 10% share of the company and the ownership of the Fiorano Circuit. In 1989 he was nominated vice chairman by Ferrari's then president Vittorio Ghidella. [18]

On the occasion of the 2013 Chinese Grand Prix, won by Fernando Alonso, Ferrari's then team principal Stefano Domenicali persuaded Piero Ferrari to collect the trophy for the team. It was the first time in the history of Scuderia Ferrari that a Ferrari family member would step on the podium of a Formula One race. [19]

Business ventures

In 1998, Ferrari teamed up with José Di Mase and purchased Piaggio Aero Engineering with the idea of bringing Piaggio back to its roots as a designer and producer of business aircraft. Ferrari was nominated president. He resigned in 2015 when he sold the final 1.95% of his shares to Mubadala Development Company. The connection proved fruitful as Ferrari was then able to persuade Mubadala to become a title sponsor of the Ferrari Formula One Team the following year. [20] Ferrari is also the chairman of HPE COXA, a company he founded in 1998 with the aim of providing high end engineering services in the mechanical field. In 2009 HPE acquired COXA, a manufacturing firm founded in 1985 and specialized in the high precision manufacturing of niche volumes and prototypes. [21]

Following Ferrari's IPO on 21 October 2015, his 10% stake was valued at US$1.1 billion. [22] On 28 April 2016, he entered into the Ferretti Group with 13.2% of shares. [23] In May 2019, he was ranked by Forbes at number 838 in the world's billionaires list with a net worth of $3.1 billion. [3] Also in 2019, he acquired the first mega yacht built by Riva—the 50m "RACE"—that launched the new superyacht division of the Ferretti Group. In April 2020, he was ranked by Forbes at number 680 in the world's billionaires list with a net worth of $3.4 billion. [3] In December 2020, he increased his stake in Ferrari up to 10.23%. [24] In June 2021, he was ranked by Forbes at number 705 in the world's billionaires list with a net worth of $4.7 billion. [3]

Honours

Ferrari was awarded the title of Cavaliere del Lavoro in 2004. [25] In 2004, he received an honorary degree in aerospace engineering from the University of Naples. [26] In 2021 he received the Mecenate dello Sport Award in Latina. [27]

Personal life

Ferrari was very close to his paternal grandmother, Adalgisa Bisbini (1872–1965). He is married to Romina Gingasu; has a daughter Antonella with previous wife Floriana Nalin; and two grandsons, Enzo and Piero. He lives in Modena in his father's old residence. [14]

Ferrari also actively supports Centro Dino Ferrari, a research center for neurodegenerative and muscular diseases at the University of Milan, located in the Clinical Neurology Institute at the University Polyclinic of Milan. The center was named for his half-brother, Dino Ferrari, after the latter died at age 24 due to Duchenne muscular dystrophy, and was co-founded by their father, Enzo Ferrari, with Professor Guglielmo Scarlato (1931–2002) in 1978. [3] [28]

Film and television

Bibliography

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References

  1. 1 2 3 Rancati, p. 107
  2. ↑ "Azionariato". www.ferrari.com.
  3. 1 2 3 4 5 "Forbes profile: Piero Ferrari". Forbes. Retrieved 1 September 2023.
  4. ↑ "Enzo Ferrari's Birth Certificate at Antenati. Italia, Modena, Stato Civile (Archivio di Stato), 1806-1942". Archived from the original on 22 October 2017. Retrieved 17 October 2018.
  5. ↑ "Enzo Ferrari - Biography on Bio". thebiographychannel.co.uk. Archived from the original on 18 January 2015.
  6. ↑ Rancati, p. 21
  7. 1 2 Rancati, p. 7
  8. ↑ Rancati, p. 88
  9. ↑ Rancati, p. 109-110
  10. ↑ Rancati, p. 136
  11. ↑ Pino, Allievi. "Si è spenta a 95 anni Lina Lardi il grande amore di Enzo Ferrari". archiviostorico.gazzetta.it.
  12. ↑ Allievi Pino. "Si è spenta a 95 anni Lina Lardi il grande amore di Enzo Ferrari". gazzetta.it (in Italian).
  13. ↑ Rancati, p. 109
  14. 1 2 "Profilo Donna Magazine". profilodonna.com.
  15. ↑ "TESTIMONIAL TECH-PIERO FERRARI".
  16. ↑ "Testimonial Tech-Piero Ferrari".
  17. 1 2 "Here comes the son | Motor Sport Magazine Archive". Motor Sport Magazine. 20 March 2015.
  18. ↑ "Vittorio Ghidella e quel 1988 in casa Ferrari". Forum.Motorionline.com.
  19. ↑ "Piero Ferrari". Paddock Magazine. 22 July 2021. Retrieved 28 January 2024. At the 2013 Chinese Grand Prix, he made history when he collected the constructor's trophy, which marked the first time a member of the Ferrari family stood on a podium.
  20. ↑ Fontevecchia, Agustino. "Ferrari IPO: Piero Lardi Ferrari To Become A Billionaire Worth More Than $1.3B". Forbes.
  21. ↑ "Piero Ferrari con HPE COXA investe sull'Accademia dei motori". 6 April 2017.
  22. ↑ Neate, Rupert (21 October 2015). "Ferrari IPO gets off to racing start on Wall Street". The Guardian. Retrieved 22 October 2015.
  23. ↑ "Ferrari family invests in Ferretti Group". SuperYacht Times. 29 April 2016. Retrieved 19 January 2017.
  24. ↑ "Azionariato". Ferrari Corporate (in Italian). 26 November 2020. Retrieved 15 July 2021.
  25. ↑ "Piero FERRARI" (in Italian). Federazione Nazionale Cavalieri del Lavoro. Archived from the original on 13 May 2006. Retrieved 17 January 2016.
  26. ↑ "Honors Degree (Laurea Honoris Causa) for Mr.Piero Ferrari | Piaggio Aerospace". piaggioaerospace.it.
  27. ↑ "Ferrari N : Piero Ferrari receives the "Mecenate dello Sport" award | MarketScreener".
  28. ↑ "Centro Dino Ferrari". centrodinoferrari.com.
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