There are many fancy car brands out there that nearly everyone wants. Mercedes-Benz, Lexus, Cadillac, Audi, Volvo, Lamborghini, and many more. But perhaps one car that gets lots of deserved attention is the Ferrari. But, who owns Ferrari?
The Ferrari means a type of Italian luxury sports car made by the company of the same name. Since its inception, the Ferrari has long been a staple of luxury car brands. Many see the Ferrari as a status symbol representing wealth, luxury, and of course, speed.
Ferrari has a long history as well. Let’s take a look at the famed Italian car manufacturer to see how they got to where they are and who owns them now.
The Beginning of Ferrari
Enzo Ferrari, an Italian man interested in racing cars, created Ferrari. Originally, he had no interest in making just normal cars when he created Scuderia Ferrari way back in 1929.
However, Ferrari’s business disbanded when Alfa Romeo hired him as a racing manager. He would later leave at the start of World War II and created a new factory, waiting until he could use the name Ferrari again. Rather, he made machine tools and aircraft components for Fascist Italy. Yet, the following year in 1940, he built the first Ferrari. The vehicle was known as the Tipoffs 815 but received little recognition due to the war.
In 1943, Ferrari moved his factory to Maranello where it is still there to this day. However, the Allies bombed the factory, but it was later repaired and Enzo Ferrari decided to start making cars with his name on them in 1947.
The real first Ferrari with the name on it was built in 1947 and was called the 125 S.
Ferrari would continue to build racing cars and was still a part of the racing scene in the aftermath of World War II. In early 1969, Fiat put in a 50% stake in the car manufacturer and gave Ferrari much-needed resources such as funds to knock out more cars.
1988 was the final year that Enzo Ferrari would debut the newest car model. It was the Ferrari F40 and Enzo would later pass away in August of that year at the age of 90.
A year later, they renamed themselves Ferrari S.p.A. Years later in the early 200s, Ferrari created the Enzo, the fastest model at the time. While it was to be called the F60 as it was next in line, they named it after Enzo Ferrari. Only 400 were made and the last one was donated to Vatican City as charity.
In 2012, 964 Ferraris, worth over $160 million, set a world record by gathering and parading around for the Ferrari Driving Days event at Silverstone Circuit in England.
Just days before Halloween 2014, Fiat and Chrysler created the FCA group. Their plan was to make Ferrari independent. A year later, Ferrari stated that its initial public offering was at $52 a share. That year, Ferrari was named the world’s most powerful brand by Brand Finance.
By 2021, Ferrari is the 10th largest car manufacturer in the world. With a net of over $52 billion, they shipped just over 11,000 cars.
Who Owns Ferrari?
So, who owns Ferrari? After 23 years of serving as president, in 2014, Luca di Montezemolo resigned. Amedeo Felisa then replaced him. However, Felisa resigned as well just a couple of years later in May 2016.
The next CEO would then be the CEO and Chairman of Fiat Chrysler Automobiles, Sergio Marchionne. In fact, Fiat is the parent company of Ferrari. Then, after another two years, and in 2018, Louis Camilleri and John Elkann replaced him as CEO and Chairman respectively. Both resigned two years later.
The newest CEO is Benedetto Vigna from STMicroelectronics. He started in September 2022.
Ferrari is a famous sports car brand that has lasted throughout the ages. Known as a symbol for the wealthy, individuals also know the sports car as a speed demon, barreling down racing circuits across Europe and the world.
While withstanding many changes in the present day regarding its leadership, and now that you know who owns Ferrari, most people still know the brand by its original founder, Enzo Ferrari, who shaped the world of luxury cars and racing forever.
In fact, Enzo Ferrari himself is getting a biopic appropriately named Ferrari. Having gone through development hell since 2000, several were set to star as the famed Italian. This includes Christian Bale, known for his work such as Batman in the Dark Knight trilogy, and in many other films such as American Psycho and in Ford v Ferrari. Bale would drop and Wolverine himself Hugh Jackman was to fill the role. Now, it was by the acclaimed actor Adam Driver who has played in many films in recent years such as the Star Wars sequels.
The film’s expected release date is 2023.