Ferrari Chair John Elkann settles inheritance tax dispute in Italy

TimesLIVE

15-07-2025

Stellantis and Ferrari chair John Elkann and his siblings Lapo and Ginevra have settled a tax dispute in Italy over the inheritance of their grandmother Marella Caracciolo, a spokesperson for the three brothers said on Sunday.
The case, opened last year, alleged the three did not pay taxes in the country on assets they inherited after the death in 2019 of Caracciolo, the wife of late Fiat boss Gianni Agnelli.
The spokesperson said John, Lapo and Ginevra, 'with the aim of rapidly and definitively closing a painful personal and family vicissitude', had reached a 'comprehensive settlement' with the Italian tax agency.
'This settlement was concluded without any admission, not even tacit or partial, of the grounds of the objections initially alleged,' the spokesperson said, adding discussions were also under way with prosecutors in the city of Turin, Northern Italy, who launched the investigation, though their outcome was not yet defined.
Italian daily Il Fatto Quotidiano, which initially reported the news on Sunday, said the Elkanns would pay at least €175m (R3.63bn) to settle the tax dispute.
Italy's Revenue Agency did not respond to a request for comment sent by Reuters.
The case stems from a wider inheritance dispute between the Elkanns and their mother Margherita over the estate of Agnelli, which has divided one of Italy's best known business dynasties.
As part of this case, a judge in Turin last year seized money and assets worth almost €75m (R1.56bn) from five people, including John, Lapo and Ginevra Elkann.