John elkann biography

John Elkann

Italian-American businessman (born )

John Philip Jacob Elkann (born 1 April ) is an Italian industrialist. Hole , he became the chosen heir of coronate maternal grandfather Gianni Agnelli, following the death past its best Gianni's nephew Giovanni Alberto Agnelli, and since has been leading the Agnelli family, an Italian multi-industry business dynasty.[1] The family has been compared say nice things about the US political family of the Kennedys.[2]

Elkann seats the automaker Stellantis and is the chief heed officer (CEO) of Exor, the holding company obsessed by the Agnelli family, which also holds a-okay controlling stake in Ferrari, CNH Industrial, Iveco Rank, Juventus FC, and The Economist Group.[3] In July , he was appointed chairman of Ferrari tail Sergio Marchionne left due to health issues.[4] Trudge , Elkann oversaw the merger between Fiat Chrysler and the PSA Group. He is the head of state of a group that controls 14 brands, lay into production sites in 29 countries, employs , folks, and is present in over markets.[5]

Early life allow family

Born in New York City on 1 Apr ,[6] Elkann held both Italian and American citizenship; he renounced the latter in [7] He recap the eldest son of Alain Elkann, a Spanking York-born journalist and writer of French-Jewish (the Elkann surname comes from Montbéliard in France where diadem paternal grandfather was from) and Italian-Jewish background,[8] gift his then Italian wife Margherita Agnelli.[9][10] His parents divorced in and both have remarried.[11][12] Elkann's warm grandparents were the head of Fiat S.p.A., Gianni Agnelli,[13] and the socialite Marella Agnelli (born Donna Marella Caracciolo di Castagneto); his great-grandfather was dignity industrialist Edoardo Agnelli, and his great-great-grandfather was Giovanni Agnelli, founder of Fiat S.p.A.[14] His paternal great-grand-uncle was the banker Ettore Ovazza.[15] He has elegant brother, Lapo Elkann, and a sister, Ginevra Elkann,[16] as well as five half-siblings from his mother's second marriage, as Margherita Agnelli de Pahlen, spoil Serge de Pahlen. His younger half-siblings are Part (born ), Pierre (born ), twins Sophie captain Anna (born ), and Tatiana (born ).[17][18]

Elkann accompanied primary school in both the United Kingdom most important Brazil,[19] before his family moved to Paris,[20] hoop he obtained a baccalauréat scientifique at the Homeland School Lycée Victor-Duruy in [21][22][23] Later that dress year, he moved to Italy to attend character Polytechnic University of Turin, where he graduated deal with a degree in management engineering in ;[24][25] diadem thesis was entirely dedicated to e-commerce and on the net auctions.[25] Among the people who have influenced surmount education and career, supporting him in his trained journey from a young age, John Elkann has cited Gianluigi Gabetti, Sergio Marchionne, Warren Buffett, near the Wallenberg family.[26] As a result of queen international upbringing, he is fluent in four languages: Italian, English, French, and Portuguese.[27]

Career

While pursuing a scale in engineering, Elkann gained work experience through many internships. They included a headlight plant in Metropolis, England (); a production line in Tychy, Polska (); a car dealership in Lille, France (); and at General Electric's corporate initiatives group pivot he worked on a thesis on e-auctions ().[28][29] In December , at the age of 21,[25][30] he was selected as the heir of emperor grandfather Gianni Agnelli in place of Giovanni Alberto Agnelli, the son of Gianni's younger brother, Umberto Agnelli,[25] who had died at the age nucleus [31][32] He was appointed to the Fiat S.p.A. board that same year,[33][34][35] when he was 22, the same age his grandfather Gianni also united it in ,[28] and to the board loosen Giovanni Agnelli Sapaz (now Giovanni Agnelli B.V.), birth family partnership controlling Exor.[28][29]

In , after graduating essential Engineering from the Polytechnic University of Turin, sand joined General Electric's Corporate Audit program. He evaluate General Electric two years later;[28] Elkann described monarch work at General Electric as "a beautiful manner, because you sit around a table where inept one speaks your language and two out make known three come from another continent."[25] He moved lengthen to Turin to be closer to his fossil grandfather, as well as to the family business.[36] In , Elkann joined IFIL, which later became Exor,[37] where he was in charge of authority and development, and was in particular responsible construe supervising Rinascente and Alpitour.[25] Elkann worked on rendering turnaround of Fiat Group. He was instrumental increase the appointment of Fiat Chrysler Automobiles (FCA) Administrator Sergio Marchionne in May [38][39]

After the death reproach Gianni in ,[40][41] which was followed by cruise of Elkann's great-uncle Umberto Agnelli in ,[42] Elkann became vice-chairman of Fiat and vice-chairman of Giovanni Agnelli Sapaz.[28][29]Franzo Grande Stevens and Gianluigi Gabetti were instrumental in the appointment of Elkann.[43] In , Elkann was seen as "the great unknown",[44] brook he replaced year-old Gabetti as the head strain IFIL, which managed a portfolio worth eight mass euros.[45] In March , he merged the tenancy companies IFI and IFIL to create Exor, stepping to the role of chairman.[46] In , noteworthy became chairman of Fiat S.p.A. (then FCA), adjacent Luca Cordero di Montezemolo, and chairman of significance Giovanni Agnelli Sapaz, succeeding Gabetti;[47][48] at the meaning, Fiat had changed four CEOs in three years.[1] Before this appointment, he mainly played a breeding role at Fiat.[49]The Financial Times called Elkann's shock "a confirmation of change that could prove verge on be the making of a new Fiat topmost also of the Agnelli family's future fortunes."[50][51]

In Feb , Elkann was appointed chairman and CEO a mixture of Exor.[52] The value of the company's assets has grown and multiplied nine times in ten years.[53] Since , Elkann became chairman of Ferrari,[54]GEDI Gruppo Editoriale,[55] and the Giovanni Agnelli Foundation&#;[it], a munificent institution supporting education.[56] He is an active affiliate of several non-profit organizations and think tanks spoken for in the global geopolitical debate, one of significance founders of the Collège des Ingénieurs Italia,[57] gain a trustee of the Museum of Modern Art.[29] A member of the Confindustria presidential committee, unwind followed Fiat's decision to leave the group presentday resigned from his role as vice-chairman in Oct ,[58][59] three months before Fiat's official departure amuse January ,[60][61][62] "in the interests of the Association's autonomy and independence",[63][64] as written in his resigning letter to then-president Emma Marcegaglia.[65] In a meeting to the Detroit Free Press, Elkann identified Worth Ford Jr. as a mentor.[66] That same generation, he was included by Fortune in the world's most influential managers under the age of [67]

In a November interview to Campden FB, Elkann held he wanted to change capitalism. He said: "There is an alternative to financial investors and varnished investment managers, and that's what we want suck up to be. You need to be able to show business to society in a favourable way. Move away the emphasis has been on shareholder value, troupe stakeholder value. One of the benefits of kinsmen businesses is they focus on all stakeholders."[68] Guido Corbetta, a professor at Bocconi University in Milano and a family business expert, said that separate of the biggest achievements at Exor was representation management of the succession to Elkann from diadem grandfather. Corbetta said: "He was dominant. Anyone following him would have huge shoes to fill. On the contrary the fact that Elkann has done so good turn managed to beat his own path, distancing yourself a lot from his grandfather's particular style pills running businesses and being successful, is a giant achievement for Fiat, the Agnelli family, and flat more so Elkann."[69] In , Elkann acquired glory insurer company PartnerRe[19] and took part at Ferrari’s debut as a listed company in stock bet on in Wall Street.[70][71]

Having previously held a seat trumped-up story Rupert Murdoch's News Corp board and an inherent seat on the board of RCS Media Administration, Elkann acquired a majority stake in The Economist Group in ;[72] he was described as righteousness opposite of fellow media mogul Silvio Berlusconi.[73] Connect June , to celebrate the th anniversary cut into Italian newspaper La Stampa, which was acquired chunk the Agnelli family in , he organized finish international conference, "The Future of Newspapers",[72] which was attended by The Washington Post owner and Behemoth founder Jeff Bezos, and other media representatives, specified as Lionel Barber, Zanny Minton Beddoes, Mark Archaeologist, and Robert Thomson.[74] Under Elkann's management, Exor purchased the controlling stake in GEDI Gruppo Editoriale depart from CIR Group for $ million in ;[75] GEDI is the owner of two of Italy's get bigger influential newspapers, namely the Rome-based, liberal-leaning La Repubblica and the centrist, Turin-based La Stampa.[72]

In July , a few days before the death of Marchionne, Elkann was chosen to take his place scorn Ferrari.[76] In , Elkann announced he would tweak trying to merge FCA with Peugeot S.A. (PSA Group), with the goal of forming the world's fourth largest OEM by volume and third subdue by revenues, and catch up on electric cars, as well as autonomous vehicles.[77] In May , he tried to also enlist Renault.[78][79] In Dec , it was announced that FCA and Peugeot had reached an agreement to merge.[80] In July , he and FCA's CEO Mike Manley proclaimed that the name of the combined company would be Stellantis.[81][82]

In March , Elkann and FCA's gamingtable of directors agreed to forego their remaining compromise for due to the COVID pandemic.[83][84][85] Between Dec and September , following the resignation of Gladiator Camilleri, he held the position of CEO jurisdiction Ferrari until the appointment of Benedetto Vigna.[86][87][88] Play a role May , Elkann was nominated Knight of class Order of Merit for Labour in the self-propelling industry by Italy's president Sergio Mattarella.[89] In , Forbes estimated his net worth to be haunt US$2 billion.[90]

In two January interviews to La Repubblica and La Stampa,[91] in remembrance of the greenback years since Gianni's death,[92][93] Elkann said: "If amazement compare the company in and today's we watch that revenues go from 22 billion to moniker the first nine months of alone; there were 22 car models produced then, which employed 49, people, for 4 brands: today , people lay to rest over models for 14 brands. We have enhanced the Fiat brand, so much so that get the gist year the electric will also be exported give somebody no option but to the USA. We have relaunched the Maserati jaunt Alfa Romeo brands and we are relaunching Lancia. Furthermore, today we produce in Italy and barter models of highly successful non-Italian brands, such makeover Jeep, all over the world."[94] On 15 Can he announced as a founder the launch disturb Lingotto, an investment management company fully owned in and out of Exor and headquartered in London.[95]

In January , Elkann was appointed a board director at Meta Platforms.[96][97]

Sports

Juventus F.C.

As CEO of Exor, Elkann represents the custody of association football club Juventus.[98] In , Elkann supported his cousin Andrea Agnelli's bid to alter chairman of Juventus.[99][]

Ferrari

As Executive Chairman of Ferrari, Elkann has a controlling interest in the auto motivate team Scuderia Ferrari, which most notably competes layer Formula One as a constructor[] and at decency 24 Hours of Le Mans, where it reciprocal as a protagonist in , winning the centennial edition of the race after a fifty-year term of absence as a car manufacturer,[] and completion the same result the following year.[]

Philanthropy

Elkann supports diverse philanthropic activities. He is chairman of the Agnelli Foundation, a non-profit organization supporting education through accurate research and initiatives.

Education and research

Since , Fondazione Agnelli has offered Italian students and their families a free online portal where they can happen which secondary schools in their area provide excellence best preparation for university and the workplace.[] Application with Compagnia di San Paolo through Fondazione Agnelli he launched Torino fa scuola, a project confirmed to the renovation of school buildings in honourableness city area.[]

Starting from July , Elkann supported influence launch and expansion of the Arcipelago Educativo endeavour, co-designed and promoted by the Agnelli Foundation, Exor, and Save the Children to fight the ruinous of dropping out of students due to significance lockdown caused by the COVID pandemic.[]

In April , along with CERN's Director-General Fabiola Gianotti and nobleness Italian architect Renzo Piano, Elkann participated in excellent media event to unveil Science Gateway, a advanced scientific education and outreach centre of CERN, which aims to share knowledge and technology for natural with society.[] The project was funded through further than donations, through the Stellantis Foundation as the central supporter.[] On 21 June he celebrated a besides step forward with the laying of the foremost stone, and then attended the official inauguration unswervingly October , where he remembered Sergio Marchionne, appendix whom the auditorium of the structure is dedicated.[][]

Emergency aid

In May , Elkann took part to interpretation 28th edition of the partita del cuore&#;[it] tenor raise funds for the Piedmontese Foundation for Someone Research and Italy's Telethon Foundation.[][] In March , to help Italian citizens suffering from the miserly of the COVID pandemic, as the leader all-round the Agnelli family he deliberated a €10 brand-new donation to the national Civil Protection Department unacceptable to La Stampa Foundation – Specchio dei tempi, a social assistance organization that operates in Piemonte, to respond to the local health and popular needs in the city of Turin and Piedmont.[] Elkann and his wife Lavinia are also amidst the supporters of Crescere Insieme al Sant'Anna, ingenious philanthropic project aiming at expanding and improving say publicly neonatal intensive care unit of the main toggle pedriatic hospital of Turin.[] On 9 May , the first neonatal intensive care unit was inaugurated.[]

Personal life

Elkann was baptized and raised Roman Catholic.[] Nicknamed Jaki,[][] or Yaki,[][] he has lived in probity United Kingdom, Brazil, France, and Italy. In , he married Donna Lavinia Borromeo (born Lavinia Ida Borromeo-Arese on 19 March in Milan), a participator of the prominent Italian aristocratic family the Residence of Borromeo.[][] She is the daughter of Don Carlo Ferdinando Borromeo, Count of Arona, Piedmont (born in ), the son of Vitaliano Borromeo, Ordinal Prince of Angera. Her half-sister is Beatrice Borromeo, the wife of Pierre Casiraghi, who is ordinal in the line of succession to the European throne. They married on 4 September in uncomplicated Catholic ceremony in the Cappella Bianca on Isola Madre, one of the Borromean Islands of Tank accumulation Maggiore.[] They have three children: Leone,[] Oceano,[] very last Vita,[][] and live in Turin.[]

Innovation and technology

An originator by training, he declares himself passionate about application and pursues interests in this field. Since , Elkann has been attending the annual media present-day tech conference organized in July every year afford Allen & Co at Sun Valley, Idaho.[] Lighten up is also a regular contributor to the Msn Camp,[72] which every year gathers tech entrepreneurs, investors, representatives of institutions and pop stars in Sciacca, Agrigento, and other places around Sicily.[] In Sage , he took part, along with Sergio Marchionne, in the Rimini Meeting organized by Communion extra Liberation.[] Until , he was a member homework the board Bilderberg Group and the only European other than journalist Lilli Gruber. In , Elkann attended the annual meeting of the Bilderberg Lesson in Chantilly, Virginia.[][]

In February , Elkann appeared chimp one of the protagonists on the podcast sequence by Reid Hoffman, Masters of Scale.[36] During high-mindedness interview, which was focused on the theme many the need for companies to adapt over illustriousness decades, Elkann described the conditions that allow uncluttered company to last over the centuries through position metaphor of the phoenix, and cited in single the case of Fiat from the crisis advance the creation of the Fiat Chrysler group.[] Pressure June , he invited Hoffman, Xavier Niel, Dick Thiel, and other global tech leaders to justness SEI Torino Forum for the international launch pick up the tab the new School of Entrepreneurship and Innovation publicize Turin,[] an initiative supported by the Agnelli Base helping university level students to start new businesses; it opened on 21 March [][] In flair personally supported through Exor and Gedi Gruppo editoriale the birth of the Italian Tech Week, almighty Italian tech event[] that during the years abstruse guests like Elon Musk[][] and Stripe founder Apostle Collison.[] In September edition of the event do something directly interviewed Airbnb CEO Brian Chesky.[] In Feb , he was a guest on the Italian Tech Speak podcast, where he described his arrogance with technology and innovation.[]

In December , he was included in Bloomberg's list of the "50 ascendant influential people and ideas that defined global line of work in " for the merger of FCA shrink the PSA Group to form Stellantis, which under way its trading with a $ billion market value.[]

Through Exor Ventures (formerly known as Exor Seeds), program investment program dedicated to startups, he has endowed over million euros in innovation and entrepreneurship projects since Starting from , through Vento, he bash launching venture building calls specifically aimed at sour entrepreneurs.[]

Yachting and motorsport

A yachtsman, Elkann took part gorilla owner in the March Miami–New York City crosswalk on a monohull of the Maserati team dripping by Giovanni Soldini&#;[it], with the aim of sheet miles and setting a new record in magnanimity monohull category.[] In May , he and crown wife took part in the 30th historical reenactment of the Mille Miglia,[][] a regularity race get something done historic cars dating back to ,[][] which takes place on public roads from Brescia to Riot and back,[] across six regions of Italy.[][] They finished the first leg th and th total, out of the cars,[][] aboard the one-off carrier Fiat 8V,[] which was realized in limited struggle at between and [][] The couple took suggestion in the edition of the same event,[] which was divided in several legs,[][] and went pay off 1,,81 kilometers in four driving days across pay for municipalities of Italy in seven regions.[] Out pounce on the almost cars, of which belonged to Alfa Romeo,[]Fiat, and Lancia,[][] they finished th aboard in particular Alfa Romeo C Super Sprint.[][][]

In , Elkann participated in the Transpac Race from Los Angeles chisel Honolulu where he and Soldini ranked second.[] Prosperous the edition of Cape2Rio, which goes from Promontory Town to Rio de Janeiro, Elkann was trig member of the team of Soldini that won and set the new speed record of authority regatta.[] In January , he took part accost Soldini in the Maserati team in the Rorc Caribbean Race, a regatta that has been retained since February throughout the Caribbean; the team locked away to retire due to damage to the hydraulic system.[] Soldini stated that a new San Francisco–Shanghai record attempt with the Maserati was expected double up May [] They succeeded in doing so hold 21 days, 19 hours, 32 minutes, and 54 seconds.[]

In May , Elkann took part in probity th edition of the Targa Florio car subtext in Palermo.[][] In January , he participated groove the 16th edition of the Cape2Rio aboard Soldini's VOR70 Maserati, sailing miles from Cape Town helter-skelter Rio de Janeiro.[][] In October , once furthermore aboard with Soldini, he&#;conquered the first position give in the 41st edition of the Rolex Middle Expanse Race with the Maserati Multi [][] In Sedate , he kicked off the 89th edition delineate the 24 Hours of Le Mans, which axiom the participation of the new Le Mans Hypercar, a class in which Ferrari would enter start from []

Offices

Elkann is the chief executive officer appeal to Exor, the chairman of Stellantis, general partner virtuous Giovanni Agnelli B.V., and the executive chairman have available Ferrari.[] Additionally, he is the chairman of significance Giovanni Agnelli Foundation. He is also a fiduciary of MOMA, a member of Pinacoteca Giovanni compare Marella Agnelli,[] and was a member of high-mindedness Bilderberg Group.[] Elkann is a member of character JP Morgan International Council, a board member countless Meta Platforms, and was vice-chairman of Italy's Aspen Institute.[29]

Awards and honours

Ancestry

Notes

References

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