Luca di Montezemolo Net Worth 2024

What is Luca di Montezemolo’s Net Worth and Salary?

Luca di Montezemolo is an Italian businessman who’s the previous Chairman of Ferrari with a net worth of $350 million. Hailing from an aristocratic Piedmontese family, Luca beforehand chaired the automotive manufacturing conglomerate Fiat and its luxurious sports activities automobile model Ferrari. Among his myriad different actions, Montezemolo served because the president of the Italian employers’ federation Confindustria and is the president of the high-speed prepare working firm NTV, which he additionally co-founded.

As Chairman and CEO of Ferrari racing, Luca oversaw 19 world drivers and constructors championships. He additionally oversaw Ferrari’s rise from an unique luxurious automobile firm to a world-domineering life-style model.

In September of 2014, Montezemolo resigned as Ferrari’s president and chairman, reportedly as a result of pressure between himself and Sergio Marchionne, his meant successor and the CEO of FIAT Chrysler. Less than a yr later, in the summertime of 2015, his lengthy profession within the area of motorsports was ceremoniously rewarded by means of an induction into the International Motorsports Hall of Fame.

Early Life and Education

Luca Cordero di Montezemolo was born on August 31, 1947 in Bologna, Italy because the youngest son of Massimo, a Piedmontese aristocrat, and Clotilde, niece of famend surgeon Vincenzo Neri. Both his grandfather and great-grandfather served as generals within the Italian Army, whereas his uncle was a commander in World War II. For his greater training, Montezemolo went to the Sapienza University of Rome, the place he earned a regulation diploma. He then moved to the United States to attend Columbia University in New York City, from which he obtained a grasp’s diploma in worldwide industrial regulation.

Fiat and Ferrari

Montezemolo began his profession racing along with his pal Cristiano Rattazzi in a Giannini Fiat 500. He later drove for the Lancia rally workforce HF Squadra Corse. Montezemolo went on to hitch the automotive manufacturing conglomerate Fiat, based mostly in Torino, Italy. Subsequently, in 1973, he joined luxurious auto producer Ferrari, the place he served as an assistant to racer and entrepreneur Enzo Ferrari. The subsequent yr, Montezemolo grew to become the supervisor of Ferrari’s racing division Scuderia. During his time in that place, Scuderia gained the Formula One World Drivers’ Championship in each 1975 and 1977, each instances with racer Niki Lauda. Montezemolo was ultimately promoted to the pinnacle of Fiat’s racing actions, after which to the place of Fiat’s senior supervisor.

In the 80s, Montezemolo held a wide range of roles at subsidiaries of Fiat; amongst them, he served because the managing director of vermouth model Cinzano and the director of the publishing firm Itedi. Additionally, he managed the yacht racing workforce Azzurra, the primary Italian yacht membership to enter the America’s Cup competitors, and have become the supervisor of the organizing committee for the 1990 FIFA World Cup. In the early 90s, Montezemolo was named the president of Ferrari, which had been floundering since Enzo’s passing in 1988.

As president, he made it his goal to as soon as once more win the Formula One World Championship. In the hopes of engaging in this feat, Montezemolo appointed Formula One champion Lauda as a guide and promoted Claudio Lombardi to the function of workforce supervisor. His work paid off, as Ferrari’s workforce gained the Constructors’ Championship in 1999 and the World Drivers’ Championship in 2000.

With Michael Schumacher at Ferrari’s wheel, between 2000 and 2004 the workforce gained 5 consecutive F1 championships.

Montezemolo went on to turn out to be the chairman of Fiat in 2004, a place he held till 2010. Later, in 2014, he resigned as president and chairman of Ferrari.

Ferrari Salary

In his closing years at Ferrari, Luca di Montezemolo earned an annual wage of two.75 million Euros. At the time that was equal to round $3.5 million USD per yr. Upon leaving Ferrari, Luca was paid a $35 million severance. He was additionally awarded a one-time lump sum fee of $17 million to be paid 20 years later, in 2034.

Formula One Teams Association

In 2008, Montezemolo based the Formula One Teams Association to present Formula One groups a united voice in negotiations with the FIA governing physique. Specifically, the goal was to barter the phrases of a brand new industrial contract governing the championship. Montezemolo presided over the affiliation till its formal dissolution in 2014.

Other Ventures

Montezemolo has been concerned in a variety of different ventures past the world of auto racing. From 2004 to 2008, he served because the president of Confindustria, or the General Confederation of Italian Industry. The Italian employers’ federation and nationwide chamber of commerce, the group comprises over 113,000 member firms and greater than 4 million people. Meanwhile, from 2004 to 2010, Montezemolo was the president of the distinguished Rome college generally known as LUISS.

In 2006, Montezemolo co-founded and commenced serving because the chairman of Nuovo Trasporto Viaggiatori, an Italian open-access high-speed rail firm. The first privately-owned, open-access high-speed prepare operator in Europe, NTV launched its providers in 2012. Among his different ventures, Montezemolo fashioned the liberal-centrist suppose tank Future Italy in 2009. He used the suppose tank in 2013 to assist incumbent prime minister Mario Monti within the basic election. Future Italy grew to become instrumental within the founding of Monti’s Civic Choice get together. In 2014, Montezemolo grew to become non-executive chairman of the airline Alitalia, and the yr after that grew to become committee president of Rome’s bid for the 2024 Summer Olympics.

Personal Life

Montezemolo married his spouse Ludovica Andreoni in 2000. Together, they’ve 5 youngsters. As a marriage current, Fiat Chairman Gianni Agnelli gifted Luca a one-of-a-kind silver Ferrari 360 Barchetta. He shops this automobile within the Ferrari museum in Maranello.

In 2012, Montezemolo acquired into authorized hassle when he had a house constructed with out authorization in Anacapri, Italy. As a consequence, he acquired a suspended sentence of 1 yr in jail.