⬅ # 293 Rekha Jhunjhunwala|# 295 Gopikishan Damani

# 294 Piero Ferrari 

$8.54B

Real Time Net Worth
as of 6/14/2024
-$131.1M (-1.54%)

# 294 Piero Ferrari 

$8.54B

Real Time Net Worth
as of 6/14/2024
-$131.1M (-1.54%)
OccupationPartial Owner and Vice Chair, Ferrari
Source of WealthAutomobiles
Age79
ResidenceModena, Italy
Marital StatusDivorced
Children1
Age-Adjusted Net Worth$2.36B
Piero Ferrari
Piero Ferrari
Italy
Net worth: $8.54B

Self-Made Score 

Wealth History

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Biography

Overview

Piero Ferrari was born on May 22, 1945, in Modena, Italy, as Piero Lardi Ferrari, later changing his name to Piero Ferrari.
He is the second and only living son of Enzo Ferrari and his mistress, Lina Lardi.
Piero never met his older half-brother, Dino Ferrari, who passed away at the age of 24 from Duchenne muscular dystrophy in 1956.
Enzo Ferrari made Piero one of his principal heirs after Dino's death, giving him a 10% stake in the Ferrari company.
He became the sole heir of the Ferrari family after the death of his stepbrother, Alfredo 'Dino' Ferrari, in 1956.
In 1990, Piero legally changed his name from Piero Lardi Ferrari to Piero Ferrari.

Career at Ferrari

Piero Ferrari began working informally for Ferrari in 1969 as an English translator for his father, Enzo.
He officially joined the company in the early 1970s as a technical supervisor, gaining experience in operational dynamics.
Throughout the 1970s and 1980s, Piero held various positions within Ferrari, including co-organizer for the Formula One team and supervisor of road car production.
After Enzo Ferrari's death in 1988, Piero inherited his father's 10% share of the company and was appointed vice chairman in 1989.
In 2013, he made history by collecting the trophy for Scuderia Ferrari at the Chinese Grand Prix, the first time a Ferrari family member stepped on the Formula One podium.
Piero played a significant role in developing iconic Ferrari models such as the F40, F50, and LaFerrari.

Business Ventures

In 1998, Piero Ferrari purchased Piaggio Aero Engineering with José Di Mase, aiming to re-establish it as a producer of business aircraft.
He served as president of Piaggio Aero Engineering until 2015.
Ferrari founded HPE COXA in 1998, focusing on high-end engineering services, and later acquired COXA, a precision manufacturing firm.
After Ferrari's IPO in 2015, his 10% stake was valued at $1.1 billion.
He entered the Ferretti Group in 2016, acquiring a 13.2% stake.

Honours and Personal Life

Piero Ferrari was awarded the title of Cavaliere del Lavoro in 2004 for his contributions to business.
He received an honorary degree in aerospace engineering from the University of Naples in 2004.
In 2021, he was honored with the Mecenate dello Sport Award.
Ferrari is married to Romina Gingasu and has a daughter named Antonella from a previous marriage.
He has two grandsons, Enzo and Piero, and resides in Modena in his father's former residence.
Piero Ferrari is actively involved in supporting Centro Dino Ferrari, a research center for neurodegenerative and muscular diseases.

How long would it take you to become as rich as Piero Ferrari?

If you started with $10,000 and invested an additional $500 each month at a 43.94% CAGR, it would take you 5 years to reach Piero Ferrari's net worth of $8.54B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 43.45% compared to 12.43% for the S&P 500 benchmark.

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Piero Ferrari is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Piero Ferrari, Automobiles is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey