Caltagirone is the founder and chairman of Caltagirone Spa, a Rome-based conglomerate with interests in cement production, real estate and publishing. The billionaire also has stakes in some of Italy's biggest financial firms, such as Mediobanca, Banca Monte dei Paschi di Siena and Assicurazioni Generali.
The majority of Caltagirone's fortune is derived from his investments in a group of publicly traded companies in Italy. His holdings include insurance provider Generali, global cement supplier Cementir, and banking firms Mediobanca and Banca Monte dei Paschi di Siena.
Caltagirone Spa, a publicly traded holding company, is the billionaire's main investment vehicle; it's tightly held by Caltagirone who has about 88% of the stock, according to its website. His fortune is calculated based on the holdings of Caltagirone Spa, and other investment companies, according to regulatory filings. The value of his stake in Caltagirone Spa is excluded to avoid double counting.
A representative for Caltagirone declined to comment on his net worth.
Caltagirone was born in Rome in March 1943. He father was from Sicily and his mother was an American from Tampa, Florida.
His family had success as property developers around Rome before relocating to Argentina after World War II. They would later return to Italy, where Francesco would undertake an engineering degree.
Caltagirone began rebuilding the family business in the 1960s. His first projects included small apartment complexes with his cousin Gaetano Caltagirone. Further growth in the construction sector led to investments in public works company Vianini and global cement supplier Cementir.
He later diversified into other industries like banking and insurance, acquiring stakes in companies such as Mediobanca, Banca Monte dei Paschi di Siena and Assicurazioni Generali.
"What I’ve built will be enough for generations," he told Bloomberg News for a May 2025 report.
Caltagirone, a father or three, lives in Italy.