Ferrari has several misconceptions about who exactly owns the famous, classic, and unique automobile brand. Some argue that Fiat or even Ford owns it, while others say it’s now a public company? Who owns Ferrari? No single corporation or person owns Ferrari. The ownership of the brand resides in three entities. Although the percentage of ownership differs from each, the three entities own Ferrari at the moment. Below are the stocks of the Ferrari group:
- The Public: 67. 09%
- Exor N. V: 22. 91%
- Pierro Ferrari: 10%
Ferrari is a unique name with a fascinating history, especially regarding its ownership and owners.
History of Ownership
The automobile has initially founded by Enzo Ferrari, an Italian automobile manufacturer, designer, and racing car driver, in 1939. Enzo Ferrari worked as a car test runner for a small company before working with Alfa Romeo, where he designed his first car. During his employment with the Alfa Romeo company, he formed a car racing stable named Scuderia Ferrari, Alfa Romeo’s official racing team. Enzo Ferrari left Alfa Romeo to establish the now renowned automobile brand, which he named Ferrari spA. A few years later, the company designed its first automobiles and soon became famous for their speed and uniqueness.
Does Fiat Own Ferrari?
No. Fiat spA has controlled the Ferrari company for over fifty years; people are bound to get confused. But there’s a history about the partial ownership to the relinquishment of the stakes. In 1969, Enzo Ferrari sold fifty percent worth of shares to Fiat SpA. In 1988, Ferrari extended its ownership by having a stake of 90% of Ferrari spA’s company. The company’s total ownership wasn’t extended to Fiat even though the agreement on the 90% lasted till 2014. Fiat announced and started the process of separating from the Ferrari spA company.
During the process of separation, Exor N.V was established as the holding company of Ferrari spA, while Fiat sold its ownership stake. Fiat did own many Ferrari spA for so many years, but Enzo Ferrari owned 10% of his company, which prevented its full ownership. Fiat relinquished its stake in Ferrari spA and distributed 80% of its shares to its shareholders.
How Does Ford Relate to Ferrari’s Ownership?
In 1963, after Enzo Ferrari established Ferrari spA, Henry Ford personally met with Enzo Ferrari with a business proposal to purchase Ferrari spA. The auditing of the assets started and the proposal advanced further until Enzo Ferrari realized that signing the deal wouldn’t allow him to retain his position as the head of Ferrari’s racing team. As a result, the agreement was quashed, and Enzo withdrew. In 1969, Enzo Ferrari sold half of his company shares in a better deal to Fiat SpA.
Does the own Public Ferrari?
Yes. After the spinoff and separation process of Fiat from Ferrari Group, as of January 2016, Ferrari became an independent public company. Currently, the public owns the most extensive stocks in Ferrari. It is estimated to be 67.09%.
Exor N.V As Ferrari’s Owner
The second-largest owner of Ferrari and the largest single stakeholder of the company is Exor N. V., a Dutch holding company with an exciting history of ownership that dates back to the 20th century. Exor N.V is a company directed by the direct descendants of one of Fiat’s founders, Giovanni Agnelli. Exor N.V was recently reputed to be the 24th most prominent group in the world with a net worth of 24 billion dollars. Exon
Who is Pierro Ferrari?
Pierro Lardi Ferrari is the second son of the founder of Ferrari, Enzo Ferrari, and the owner of Ferrari. He is a seventy-year-old billionaire and the only living heir of Enzo Ferrari and his mistress, Lina Lardi. As an illegitimate son of the manufacturer, there was no way he could have been involved in his father’s business back then. Moreover, divorce was illegal in Italy then, which hindered him from being regarded as family. In 1978 when divorce was finally made legal, Pierro stood a chance of being an heir to Ferrari spA. Since he was a child, Pierro Ferrari was fond of mechanics, and he pursued a mechanical engineering degree at the Fermo Corni Institute in Modena in 1964.
He worked with his father to supervise the production of road cars. Later on, he became an organizer of the car racing department. After the death of his father in 1988, Pierro Ferrari became the Vice President of Ferrari Spa. In 1998, Pierre Ferrari became the President of Piaggio Aero Engineering and later won the Cavaliere del Lavoro award title in 2004. At his father’s death, the 10% and significance of ownership passed his 10% of the company shares to him. Thus, he owns the minor stakes in the company, which is just a third of his 4 billion USD dollars net worth.
Conclusion
Ferrari has proven to be a highly desirable and famous automobile brand with an exciting history. However, several misconceptions about its owners have been debated over time. Therefore, it’s a great pleasure to express the impeccable record and impressive account of who owns Ferrari.
Frequently Asked Questions (FAQ)
- Does Ferrari Own Maserati?
Ferrari and Maserati’s relationship is quite an interesting one. When Enzo Ferrari was still leading Scuderia Ferrari, his racing car game was a competitor against Maserati’s. It was known that the two automobile brands were arch-rivals. In the 1990s, Fiat acquired Maserati and sold off 50% of its shares to Ferrari. Then, Fiat was in control of the Ferrari brand even though it wasn’t in charge of its manufacturing business. Ferrari took complete control of the manufacturing process of Maserati in 1999.
New developments were made, a new factory for the company was built to replace the old factory. Ferrari introduced new models through the Maserati, such as the Maserati Coupe, Maserati Synder, and Maserati Quattroporte. Most of these automobiles made use of Ferrari’s engine. Due to a recent announcement, Ferrari has stopped providing machines for Maserati. Ferrari made Maserati its luxury division, and by 2002, the United States became one of the largest markets for Maserati. In 2005, Fiat spA split Maserati from Ferrari to join with Alfa Romeo. Ferrari doesn’t own Maserati. It controlled the company for six years and supplied its engines for many years, but Ferrari doesn’t own Maserati. - Did Ford Try To Buy Ferrari?
Yes. In 1963, Henry Ford personally gave a business proposition to Enzo Ferrari to purchase the Ferrari spA. This was a couple of years after Enzo Ferrari started the company and became popular with its unique car models. Henry Ford company designed car trucks amongst other models and believed the Ferrari spA would be an excellent addition to his company. However, while the purchase process was underway, Enzo Ferrari withdrew from the deal even thoughHenry Ford started auditing the Ferrari spA.
This was after realizing that he would lose the Scuderia Ferrari team and would not retain his position as the head of the car racing team. So the deal was canceled, and Enzo Ferrari later made an acceptable deal with Fiat. Yes. Ford tried to buy Ferrari spA in 1963, but the deal fell through because Enzo Ferrari canceled the agreement. - What is Ferrari known for?
Ferrari is an automobile manufacturing company of Italian origin. Founded by Enzo Ferrari, a car manufacturer and designer, in 1939, the company has consistently been known for manufacturing racing cars and streetcars reputed for their incredible speed and luxurious sophistication. It is one of the most expensive cars ever sold. Every model of the company is costly and with top-notch features that made it rival other automobile brands.
The Ferrari spA is known for its V12 engine, which has a top-notch performance and sound, common in most Ferrari cars. In addition, Ferrari is known for creating exclusive vehicles. Over the years, the Ferrari company has built a desirable solid identity that made it stand out in the face of other automobile brands. - What is the Scuderia Ferrari?
The Scuderia Ferrari is a racing division of Ferrari, an Italian automobile manufacturing brand. Its full name is Scuderia Ferrari Mission Winnow, and it’s based in Maranello, Italy. Concerning its logo, the racing team is also known as The Prancing Horse. It competes in Formula One racing and is known for its speed and winning nature. Enzo Ferarri founded it in 1929 while he was working for Alfa Romeo.
It is reputed to have entered 1016 competitions and won 238 race victories. It has participated in every single world championship since the 1950 Formula One season. It is the most successful and oldest racing team known for notable achievements outside Formula One, such as:- World Sportscar Championship
- 12 Hours of Sebring
- Bathurst 12 Hours
- 24 Hours of spa
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