Who owns Ferrari? Is it the same family that started it all or did it get bought by Fiat in the end? We had the same questions, thus we went on a quest to find out the truth.
History of Ferrari
The Ferrari S.p.A. is a world-known Italian luxury sports car producer with its headquarters in Maranello, Italy. Dating back to 1939 when its great founder, Enzo Ferrari, created his brand, the company released its first model in 1940 and changed its name from Scuderia Ferrari to Ferrari S.p.A. In 1945, it launched the production of its flagship sports cars in 1947.
As a result of the 1960 initial public offering, the company became a subsidiary of Fiat S.p.A., and then it remained a part of Fiat until 2014 when it was spun off from Fiat’s successor, Fiat Chrysler Automobiles.
At present, the company offers supercar, grand tourer, and SUV models using a wide range of designs. Auction of its numerous early Ferraris from the 50s and 60s are among the most exorbitantly priced cars that have ever been auctioned.
Ferrari was named the strongest brand in the world last year, thanks to its fantastic cars, a rabid community of enthusiasts, and opulent licensing agreements, according to Brand Finance which is a financial consultancy.
As of May 2023, Ferrari can be seen as the third most valuable carmaker in the world with a market capitalization of about $52 billion.
Throughout the long history of the brand, Ferrari has been patiently determined to succeed in motorsport – Formula One above all – where its glorious team Scuderia Ferrari is the oldest and most distinguishable combatant as well.
Entering the single seats competition in 1929 with the Ferrari team first in Grand Prix competitions and later in Formula One, they’ve produced 15 world champion drivers, won 16 Constructors’ Championships, and hold an unrivaled score of victories, 1–2 finishes, podiums, pole positions, fastest laps, and point in F1 history.
Ferrari boasts a storied legacy in sports car racing, claiming victories in renowned races such as the Mille Miglia, Targa Florio, and 24 Hours of Le Mans, alongside multiple overall triumphs in the World Sportscar Championship.
Who Owns Ferrari Today?
Ferrari’s ownership is a partnership between the Dutch holding company Exor, predominantly under the control of the affluent Agnelli family, Piero Ferrari, and the shareholders.
The visionary Italian entrepreneur Enzo Ferrari passed away in 1988, having established the automotive marque in 1939 after departing from Alfa Romeo. Piero Ferrari, his son, inherited a 10% stake.
Approximately 67% of Ferrari’s shares are in the possession of investors, facilitated through its listings on stock exchanges in New York and Milan. Among the shareholders are esteemed American investment entities such as BlackRock and T. Rowe Price Associates.
It’s worth noting that Fiat previously held a significant interest in Ferrari until their separation in 2016. However, control of Exor remains within the hands of the family of the Italian industrialist Giovanni Agnelli, who initiated Fiat’s legacy.
Ferrari Highlights
- 1929: Enzo Ferrari establishes Scuderia Ferrari for manufacturing race cars.
- 1938: Ferrari’s racing division becomes part of Alfa Romeo.
- 1939: Enzo Ferrari departs from Alfa Romeo and establishes Auto Avio Costruzioni.
- 1940: Ferrari produces its first race car, the Tipo 815.
- 1943: Headquarters and manufacturing facilities are relocated to Maranello, Italy.
- 1947: Completion of the inaugural Ferrari-badged road car, the 125 S.
- 1963: Ferrari cancels the proposed deal to sell the company to Ford.
- 1969: Fiat acquires a 50% stake in Ferrari.
- 2014: Fiat Chrysler Automobiles announces intentions to divest Ferrari.
- 2016: Ferrari’s spinoff from FCA concludes, transitioning it into an independent public company.
- 2019: Ferrari was labeled the world’s strongest brand.
- 2021: Benedetto Vigna has announced intentions to spearhead the development of Ferrari’s inaugural fully electric model.
- 2023: Ferrari is one of the largest car manufacturers by market capitalization.
- 2023: Ferrari began accepting payment in cryptocurrency for its vehicles in the US.
Conclusion of Who Owns Ferrari
Ferrari’s journey, from Enzo’s passionate dream to a global icon, embodies a captivating tale of innovation, exclusivity, and unwavering commitment to excellence. The Prancing Horse has transcended its origins as a race car manufacturer, becoming a symbol of luxury, power, and unparalleled driving experiences.
Today, Ferrari’s ownership structure reflects this evolution. Public investors alongside the Agnelli family and Piero Ferrari ensure the brand’s continued success while maintaining a connection to its founding spirit. This unique blend allows Ferrari to leverage market forces for growth while preserving its heritage.
Looking ahead, the future of Ferrari remains as thrilling as a Formula 1 race. The company embraces new technologies like electric vehicles, ensuring its relevance alongside rivals like BMW or Mazda in the ever-changing automotive landscape.
One thing remains certain: as long as there are hearts that race for speed and a desire for automotive perfection, the Prancing Horse will continue to gallop forward, leaving an indelible mark on the world.
