Introduction to John Elkann
I'm here to tell you about John Elkann, who serves as the chair and CEO of Exor, a holding company with major stakes in Fiat and Ferrari. As a prominent member of the Agnelli family that founded the Fiat brand, Elkann might not be a household name, but he's tied to corporations you likely know, like Fiat, Chrysler, and Ferrari. Though he comes from a lineage of industrialists who built the Fiat name, Elkann has carved out his own path as an executive with real drive and vision. Stick with me as I cover his early life, education, career, and other interests.
Key Takeaways
Let me lay out the essentials for you: John Elkann is the chair and CEO of Exor, a holding firm with interests in Fiat and Ferrari. He was born in New York and grew up in places like the U.K., Brazil, France, and Italy. As part of the Agnelli family, which started the Fiat auto brand, he joined Fiat's board in 1997 and became chair in 2010. He led the acquisition of Chrysler by Fiat and the merger with Peugeot that created Stellantis.
Early Life and Education
You should know that John Elkann belongs to the influential Agnelli family that controlled the Italian automaker Fiat. Born in New York City in 1976, he traveled a lot as a kid, living in the United Kingdom, Brazil, France, and Italy. This made him fluent in four languages: Italian, English, Spanish, and Portuguese. As Elkann himself put it, his life was always about adapting to new environments.
He studied sciences at the Lycée Victor Duruy in Paris and got his engineering degree from Politecnico di Torino in Turin, Italy, in 2001. Along the way, he did internships that gave him a firsthand look at the automotive industry, covering factory operations, marketing, and sales. These included time at a headlamp factory in the U.K., a production line in Poland, and a car dealership in France. By 1997, when he joined Fiat’s board, he was already working on his undergraduate thesis about e-auctions in General Electric’s corporate initiatives group.
Notable Accomplishments
Elkann chairs automakers Stellantis and Ferrari, and he's also the board member, chair, and CEO of Exor, which holds stakes in both. As of May 18, 2022, he ranked 1,445th on Forbes' billionaire list with a net worth of $2.1 billion. Groomed for the family business by his grandfather Gianni Agnelli, he joined Fiat's board in 1997 after his cousin Giovanni Alberto Agnelli's death.
In 2004, a year after his grandfather's passing, Elkann became vice-chair of Fiat, which was struggling with a bad reputation for vehicle reliability. He collaborated with management to turn things around and stepped up as chair in 2010 at age 36, when Luca Cordero di Montezemolo left. During his leadership, he managed the 2009 acquisition of Chrysler and played a key role in the 2021 merger of Fiat Chrysler and Peugeot, forming Stellantis—a company with operations in about 30 countries and markets in 130.
Beyond cars, Elkann has other roles; Exor owns a stake in Juventus Football Club, so he has an interest there too. The club, founded in 1897 in Turin, is owned by the Agnelli family.
Fast Fact
Here's a quick note for you: Stellantis owns many well-known car brands, including Fiat, Chrysler, Dodge, Jeep, Peugeot, Maserati, Alfa Romeo, and Citroen.
Who Owns Ferrari?
If you're wondering about Ferrari ownership, it's a public company owned mainly by shareholders, but the largest stake belongs to the Agnelli family through Exor, which holds 22.9%.
How Rich Is John Elkann?
As for his wealth, John Elkann's net worth was $2.1 billion on May 18, 2022. He's part of the affluent Agnelli family that started Fiat, and he chairs Stellantis while serving as chair and CEO of Exor.
What Famous Family Owns Juventus?
The Agnelli family owns Juventus FC through their holding company, Exor.
The Bottom Line
To wrap this up, John Elkann heads the Agnelli family, famous for founding Fiat and influencing brands like Ferrari. He holds key positions, such as chair of Fiat and Ferrari, and chair and CEO of Exor, which oversees the family's investments.
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