Who Owns Ferrari Company?

Who owns Ferrari today?

The 2015 NYSE IPO transformed Ferrari from a Fiat Chrysler unit into a public luxury powerhouse while preserving family influence through special voting shares. Ownership blends the Agnelli-led Exor, the Ferrari family, and global institutional investors, all balancing legacy and market demands.

Ferrari N.V. had a market cap above $88 billion in 2025, operating like a luxury house focused on scarcity and high margins. Ownership remains shaped by Exor’s controlling stake, the Ferrari family's voting rights, and institutional holders; see Ferrari Porter's Five Forces Analysis.

Enzo Ferrari founded the company under his name in 1947, tracing roots to Auto Avio Costruzioni from 1939; initial ownership was fully concentrated in Enzo’s hands to fund Scuderia Ferrari through road-car sales.

Origins

Auto Avio Costruzioni began in 1939; the Ferrari marque was established in 1947 to commercialize racing expertise.

Founder Control

Enzo retained absolute control over engineering and racing strategy for about two decades.

Commercial Shift

Road-car production was used to finance the racing program and build brand prestige globally.

1969 Agreement

Enzo sold a 50% stake to Fiat S.p.A. in 1969, separating road-car operations from the racing division.

Division of Control

Fiat managed commercial operations while Enzo kept autonomy over Scuderia Ferrari and racing decisions.

Stake by 1988

By Enzo’s death in 1988 Fiat held 90% and Piero Ferrari received 10%, shaping Ferrari ownership for decades.

The 1969 Fiat transaction marked the start of industrial backing that stabilized Ferrari’s finances amid rising Formula One costs, while the Ferrari family retained strategic presence.

Key facts on founders and early ownership

Early ownership evolved from sole proprietorship to a corporate partnership that preserved racing control with the founder.

• Founder: Enzo Ferrari established Ferrari in 1947 (roots in 1939).
• 1969: Fiat acquired 50%, taking road-car operations.
• 1988: Fiat increased to 90%; Piero Ferrari held 10%.
• Result: Industrial capital from Fiat paired with Ferrari family influence in governance.

For governance and values context see Mission, Vision & Core Values of Ferrari.

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Key ownership events include FCA’s October 2015–January 2016 spin‑off that created independent Ferrari N.V., the NYSE and Borsa Italiana listings, and subsequent consolidation of long‑term stakes led by Exor and the Ferrari family, shaping the company’s governance and protecting strategic independence.

The concentrated block of long‑term holders—Exor and Piero Ferrari—paired with a large, liquid institutional public float defines the Ferrari ownership structure explained, while the shareholders' agreement governs strategic decisions and defends against hostile bids.

Major Stakeholders & Governance

Ownership rests on a dual anchor: Exor’s near quarter stake and Piero Ferrari’s family trust holding, with institutions supplying liquidity and market oversight.

• Exor ownership in Ferrari: approximately 24.44%
• Piero Ferrari ownership: 10% via family trust
• Public ownership: about 65.56%, heavily institutional
• Shareholders' agreement preserves strategic continuity and blocks hostile takeovers

See a complementary analysis of Ferrari’s business model and revenue mix in Revenue Streams & Business Model of Ferrari.

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Ferrari’s board blends long-term stakeholder representation with independent oversight; chaired by John Elkann and led operationally by CEO Benedetto Vigna, the 11-member board balances Exor and family influence with independent directors to guide strategy and technological transition.

Ferrari’s governance mixes public-company transparency with concentrated control via loyalty voting and a stakeholder-aligned board, enabling decisive long-term planning while remaining listed on public markets.

Board control and voting power

Fidelity of voting rights stems from a loyalty voting program that awards special votes after three years of continuous share ownership, producing a governance block exceeding 50 percent.

• Exor N.V. controls approximately 36.3 percent of total voting power as of 2025
• Piero Ferrari controls approximately 15.4 percent of voting power as of 2025
• Together they hold over 51 percent of voting rights, enabling de facto control of board appointments and charter changes
• Ferrari reported net profit exceeding €1.25 billion in fiscal 2024, reducing activist appeal

For more on market positioning and customer segmentation relevant to ownership and governance, see Target Market of Ferrari.

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Ferrari ownership has solidified into a hybrid public-private model through aggressive share buybacks and stable long-term stakes held by Exor and the Ferrari family trust, while new ESG-focused investors have emerged amid the company’s electrification push and strong brand momentum into 2025.

Shareholder composition remains: Exor as largest investor, the Ferrari family trust and public float; public ownership percentage has declined modestly due to buybacks, reinforcing Exor-led control without single-person ownership.

Buybacks and voting influence

Ferrari's buybacks—often exceeding €500m per tranche—have reduced free float and marginally increased the relative voting power of core long-term holders.

Electrification attracts ESG capital

The Maranello e-building completion in June 2024 signaled tangible EV capability, drawing ESG-focused institutional investors into Ferrari stock.

Racing impact on financials

Lewis Hamilton's 2025 signing correlated with a measurable uptick in global merchandise revenue and positive analyst revisions to near-term earnings forecasts.

Ownership outlook

Analysts cite stable succession within Exor and the Ferrari family trust; Exor ownership in Ferrari remains the central control element, keeping a private-style governance over a public company. Read a Brief History of Ferrari for context.

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