Luca di Montezemolo is a former Chairman of Ferrari and an Italian businessman who is estimated to be worth $350 million. Luca, a member of a prominent Piedmontese family, has extensive experience in the automobile industry, having served as chairman of both the Fiat Group and Ferrari, a high-end division of Fiat.
A multi-talented entrepreneur, Montezemolo co-founded the high-speed train operating company NTV and served as its president.
During his tenure as Chairman and CEO of Ferrari racing, Luca oversaw the team’s 19 world championships in driver and function Object() { [native code] } categories.
As a result of his leadership, Ferrari went from producing unique luxury cars to being a global powerhouse in the lifestyle industry.
Montezemolo resigned as Ferrari president and chairman in September 2014, ostensibly due to disagreements with Sergio Marchionne, the CEO of FIAT Chrysler and his handpicked successor.
In the summer of 2015, less than a year later, he was formally honored for his long career in motorsports with induction into the International Motorsports Hall of Fame.
Luca Di Montezemolo Net Worth: Know About His Wealth In 2022 And How He Earned It? https://t.co/yOi61UZ2Eg
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Luca Di Montezemolo’s Early Life and Education.
Luca Cordero di Montezemolo is the youngest son of Massimo, a Piedmontese aristocrat, and Clotilde, a niece of famous physician Vincenzo Neri. He was born on August 31, 1947, in Bologna, Italy. Three generations of his family have served as generals in the Italian Army:
his grandpa, great-grandfather, and uncle all saw action during World War II. Montezemolo attended the Sapienza University of Rome and graduated with a law degree. After that, he uprooted to New York City, where he attended Columbia Law School and graduated with a master’s degree in international commercial law.
Luca Di Montezemolo’s Fiat and Ferrari.
Initially, Montezemolo raced in a Giannini Fiat 500 alongside his friend Cristiano Rattazzi. The Lancia rally team HF Squadra Corse later hired him as a driver. Later, Montezemolo moved to Turin, Italy, to work for the automobile manufacturing behemoth Fiat. From there, in 1973, he became Enzo Ferrari’s assistant at the racing car and business empire Ferrari.
Montezemolo was hired the next year to lead Scuderia, Ferrari’s racing branch. Scuderia won the Formula One World Drivers’ Championship in 1975 and 1977 with driver Niki Lauda during his tenure. Eventually, Montezemolo rose through the ranks to become Fiat’s senior manager and then the head of the company’s racing division.
In the 1980s, Montezemolo worked in several different capacities at Fiat subsidiaries, including as managing director of the Cinzano vermouth brand and director of the Itedi publishing company.
On top of that, he led the 1990 FIFA World Cup’s organizing committee as its manager and was the skipper of the yacht racing team Azzurra, the first Italian yacht club to compete in America’s Cup. After Enzo died in 1988, Ferrari struggled until Luca di Montezemolo was appointed president in the early 1990s.
He has made it one of his goals as president to reclaim the Formula One world title. Montezemolo brought on Formula One champion Lauda as a consultant and promoted Claudio Lombardi to team manager to pull this off. The Ferrari team he worked for won both the Constructors’ and Drivers’ Championships in 1999 and 2000, respectively.
From 2000 to 2004, Ferrari won five straight Formula One titles with Michael Schumacher at the wheel.
In 2004, Montezemolo was named Fiat’s chairman, a post he held until 2010. Later, in 2014, he stepped down from his positions as Ferrari’s president and chairman.
Ferrari Salary
In his last few years at Ferrari, Luca di Montezemolo made 2.75 million Euros per year. That equated to about $3.5 million in current US dollars each year. Luca received a $35 million compensation when he left Ferrari. He will also receive a $17 million lump sum payout 20 years from now, in the year 2034.
Formula One Teams Association
Montezemolo established the Formula One Teams Association in 2008 so the teams could speak with one voice when dealing with the governing FIA.
The target was to discuss and finalize the terms of a new commercial contract that would regulate the championship. Montezemolo served as the organization’s leader until its dissolution in 2014.
Other Ventures
Beyond the realm of auto racing, Montezemolo has participated in a variety of other endeavors. His presidency of Confindustria (the General Confederation of Italian Industry) spanned from 2004 to 2008.
Including about 113,000 businesses and over four million people, the organization serves as the Italian employers’ federation and national chamber of commerce. The prestigious LUISS University in Rome had Montezemolo as its president from 2004 till 2010.
Montezemolo co-founded the Italian open-access high-speed train firm Nuovo Trasporto Viaggiatori in 2006 and has since served as its chairman. In 2012, NTV began operating as Europe’s first privately-owned, open-access high-speed train operator.
Montezemolo founded the liberal-center Future Italy research tank in 2009. In 2013, he utilized the think tank to advocate for then-current Prime Minister Mario Monti. With their help, Future Italy paved the way for Monti to launch his Civic Choice party.
Montezemolo took on the role of non-executive chairman of Alitalia in 2014, and then president of Rome’s 2024 Summer Olympics bid committee the following year.
Luca Di Montezemolo’s Personal Life.
Ludovica Andreoni became Montezemolo’s wife in the year 2000. They have a total of five kids between them. Chairman of Fiat Gianni Agnelli gave Luca a one-of-a-kind silver Ferrari 360 Barchetta as a wedding present. The Ferrari museum in Maranello, Italy is where he keeps this vehicle.
Montezemolo ran afoul of the law in 2012 when he had a house built in Anacapri, Italy, without the proper permits. Therefore, he was given a one-year prison sentence with suspension.