Pursuits
Ferrari Scion, Steered Away From Racing, Ends Up a Billionaire
- Filing shows company could be valued as high as $9.82 billion
- Son of founder not planning on reducing his 10 percent stake
Ferrari IPO Could Value Company at $9 Billion
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Enzo Ferrari was so determined to protect his young son from the dangers of motor sport, that he ordered his workers not to let the boy sit in team cars so he wouldn’t ever dream of becoming a racing driver.
More than five decades later, the Ferrari legacy is about to make the son a billionaire as the world’s most iconic maker of supercars completes an initial public offering. The now 70-year-old Piero Ferrari will have a fortune of $1.3 billion, mainly derived from his 10 percent stake in the Italian company, according to the Bloomberg Billionaires Index.