Wednesday, October 13, 2004
Italy's Billionaires
The ANNOTICO Report

Before peeking, How many of Italy's 11 Billionaires can you name?
5 of the 11 are self made, and of those 5, 2 of them have only high school diplomas.



The Figures across the screen indicate Ranking in the World, Name, Age, Wealth
(in Billions), Citizenship, Residence:

30 Silvio Berlusconi 67 10.0 Italy Italy , North of Milan

Industry: Media/Entertainment
Marital Status: married , 5 children
University of Milan, Doctor of Jurisprudence
Self Made

Italy's wealthiest man has been its prime minister since 2001. His investment holding company, Fininvest, owns almost half of Mediaset, one of Italy's largest television networks. Also has banking, insurance and publishing interests. Still has time for leisure pursuits: recently released a CD of love songs for which he wrote many of the lyrics. Also reportedly enjoys gardening. His AC Milan soccer team won the European Cup last year.

55 Leonardo Del Vecchio 68 6.9 Italy Italy , Milan

Source: eyewear
Marital Status: married , 4 children
High School - Self Made

Workaholic founder and chairman of Luxottica, a $3 billion (sales) designer and manufacturer of high-quality eyeglass frames. The company owns the Ray-Ban brand and U.S. retailers LensCrafters and Sunglass Hut. Recently announced plans to buy Cole National, owner of optical chain Pearle Vision. Sells sunglasses under designer names such as Prada and Versace. Del Vecchio recently joined Versace's board. Sent to an orphanage at age 7 because his mother could not afford to support her five children. Apprentice at a factory that made molds for auto parts, eyeglass frames; opened his own molding shop in 1958 at the age of 23. Apparently flies helicopter to work. Son Claudio owns men's retailer Brooks Brothers.

100 Luciano Benetton & family 68 4.5 Italy Italy , Treviso

Industry: Apparel
Marital Status: married , 4 children
Self Made

After 38 years at the helm of this well-known Italian fashion brand, Benetton is pulling back from the day-to-day activity. Remains chairman. Will also keep his luxurious office, decked out in 17th-century ceiling frescoes. Through a holding company, also owns 37% of Autostrade, an operator of nearly two-thirds of Italy's motorways and 67% of Autogrill, a chain of roadside restaurants. Enjoys a reputation as one of Europe's most famous patrons of the arts.

128 Michele Ferrero 77 3.7 Italy Belgium , Brussels

Industry: Food- chocolates
Marital Status: married , 2 children

Owner of the eponymous chocolate maker, one of Europe's largest with estimated 2002 sales of $4 billion. Brands include Ferrero Rocher, Nutella, Tic Tac and Kinder Eggs. Passions: church and chocolate.

247 Giorgio Armani 69 2.2 Italy Italy , Milan

Industry: Apparel
Marital Status: NA
University of Bologna
Self Made

Much-celebrated fashion designer. A big concern these days is finding a successor who can oversee his $1.8 billion (2002 sales) private company. Spent two years in medical school before dropping out in 1957 to accept a job as a department store buyer. Also owns his own Nobu restaurant and a night club in Milan.

262 Umberto Agnelli & family 69 2.1 Italy Italy , Turin

Industry: Shipping/Trucking/Transport
Marital Status: married , 3 children

Head of Fiat's following his deceased brother Gianni  40 years leading the company.  Having long been in his brother's shadow, Agnelli has stepped into the limelight to help restore the ailing Fiat group. Since he took over as chairman, the company has sold some noncore businesses such as its aerospace and aviation divisions and has refocused on core products such as cars, trucks and farm machinery. Fiat also has a newspaper publishing subsidiary.

262 Achille Maramotti 77 2.1 Italy Italy , Reggio Emilia

Industry: Apparel
Marital Status: married , 3 children
University of Rome, Doctor of Jurisprudence

Founder and owner of MaxMara fashion group. The company is diversifying into accessories and opening new stores around the world. Increasingly active as a financier, Maramotti sits on the board of four Italian banks including Credito Emiliano, where he is also the largest shareholder. Maramotti is less well known for his collection of Renaissance and modern art, reportedly one of the largest in Europe.

277 Ennio Doris 63 2.0 Italy Italy , Tombolo

Source: insurance
Marital Status: married , 2 children
High School, Diploma
Self Made

Chief executive of Mediolanum SpA, life insurance and fund management company he cofounded. Longtime business ally of Prime Minister Silvio Berlusconi, he is the largest shareholder in Mediolanum, followed by the politician. Also serves on board of prominent Italian investment bank Mediobanca. Enjoys mountain biking.

277 Augusto & Giorgio Perfetti -- 2.0 Italy Italy

Source: candy
Marital Status: NA

Brothers Augusto and Giorgio Perfetti share $2 billion candy fortune. Founded by their father Ambrogio and Uncle Egidio Perfetti in 1946 in a small town near Milan, the company was the first to introduce chewing gum to Italians. Their Brooklyn brand is still one of the most popular in Italy. (The gum was named after American soldiers who chewed gum in Italy during World War II.) In 2001, Perfetti paid more than $900 million for Van Melle, the Dutch owner of Mentos, Fruittella and Airheads. Since then, company has been run by chief executive Ubaldo Traldi.

377 Miuccia Prada & family 54 1.5 Italy Italy , Rome

Industry: Apparel
Marital Status: married
Doctorate

Granddaughter of company founder Mario Prada runs $1.7 billion (2002 sales) luxury-goods maker with husband, Patrizio Bertelli. She is lead designer; he is chief executive. Last year signed a ten-year licensing agreement with Italian eyeglass manufacturer Luxottica and opened 10 new stores, including a flagship location in Tokyo. The group, which has 260 stores around the globe, has been slashing debt by spinning off real estate and selling a stake in British shoemaker Church's. Prada hopes to finally go public later this year or early next year, several years after first announcing plans for an offering. Husband is an avid sailor who has competed in the America's Cup. For the past decade the couple has been hosting shows of internationally recognized contemporary artists through their foundation.

437 Francesco Gaetano Caltagirone & family 60 1.3 Italy Italy

Industry: Diversified
Marital Status: married
Self Made

Missed the Billionaires' list for the past two years but now returns thanks to a strong Italian stock market. With family, owns 50% in Caltagirone SpA, the industrial holding company. The company has cement, media and real estate interests. Unsuccessfully bid for Metrovacesa, a Spanish property holding company. Board member of Banca Monte dei Paschi di Siena.

437 Steno Marcegaglia & family 73 1.3 Italy Italy , Mantova

Source: steel
Industry: Manufacturing
Marital Status: married , 2 children
Tre Gennaio College, Bachelor of Arts / Science
Self Made

Chairman of estimated $2.5 billion (sales) Marcegaglia Spa, an industrial conglomerate that includes one of Europe's largest steel-goods makers. Also makes tubes, coils, aluminum guard rails; has tourism and real estate interests. A family man, Marcegaglia gets help running the company from wife, Mira, and children Antonio and Emma (who has an M.B.A. from New York University), all of whom are managing directors. Known for his collection of lion statues.

552 Emilio Gnutti 57 1.0 Italy Italy , Brescia

Industry: Finance
Marital Status: NA
Doctorate- Self Made

This financier made a lot of his money selling his stake in Telecom Italia to Pirelli-led group in 2001. His investments include interests in banking, insurance, telecom, construction and energy. Has ties to Italy's Prime Minister Silvio Berlusconi. Apparently bought shares in Telecom Italia last year using proceeds from a bond sale and then increased the stake earlier this year. This self-made man has expensive tastes including a penchant for luxury cars.

552 Stefano Pessina 62 1.0 Italy Monaco , Monte Carlo

Industry: Health Care-pharmaceuticals
Marital Status: married , 2 children
University of Milan, Bachelor of Arts / Science

A trained nuclear engineer, graduated from University of Milan. He taught at the University of Milan, then became an AC Nielsen researcher before joining the family firm in 1976. He turned the family's little, ailing Naples-based drug wholesaler into the second largest drug wholesaler in Europe. Hobby: yachts. Lives in tax-haven Monaco but can be found at the Ritz when in London.

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Thanks to Forbes Magazine