From Driving Race Cars to Designing Legendary Automobiles: Enzo Ferrari's Journey and Net Worth

What was Enzo Ferrari's net worth?

Italian motor racing legend and founder of Ferrari, after whom the auto brand's iconic model has been named, Enzo Ferrari was known for his peculiar aggressive approach to management which earned him a $50 million net worth. Ferrari wasn't always wealthy, in fact for most of his life, the company was always struggling to stay afloat. He started off driving test cars for a small automaker in Milan and then hit the racetrack as a driver for Alfa Romeo, an iconic brand for which he even designed his first race car. He then left Alfa Romeo and formed his own team Ferrari which only manufactured its first car after the Second World War. Although his cars quickly gained popularity for their speed, at one point, Ferrari was even forced to sell 50% of his firm to Fiat which was controlled by the Agnelli family. Upon Ferrari's death, the Agnelli family bought an additional 40% of the company for $13.6 million. The remaining 10% was inherited by his son Piero who was born to Ferrari's mistress in 1945, and that share is worth $2 billion today.

What are Enzo Ferrari's sources of income?

Ferrari made most of his fortune from his career as a race car driver, and later as a manufacturer of some of the fastest automobiles on the planet. Even after selling half of his firm to Fiat, Ferrari remained president till 1977, and continued to control the racing team till his death.

He began working in the automobile industry in the early 1900s and became a test driver for CMN which was a car manufacturer in Milan. Ferrari was later promoted to race car driver and later competed in the Targa Florio race. He soon became a driver in the early 1920s and had a great season in the year 1924. He later retired from racing after the birth of his first son Alfredo in 1932. He later built a team with drivers including Nuvolari and Giuseppe Campari. In the year 1950, he competed in Formula One's inaugural World Championship and was the only team to be present in the event from start to end.  

But Ferrari was also known for being the reason for clashes between the drivers and used to encourage psychological warfare. This resulted in ugly competition on the tracks and the deaths of close to eight Ferrari drivers while racing between 1955 and 1971.

Personal life

Ferrari was born on February 20, 1898, in Modena and was the younger child of Adalgisa and Alfredo. He was inspired to become a race car driver from a very young age and grew up watching Felice Nazzaro. He lost both his brother and father to a flu outbreak in Italy.

Ferrari was married to Laura Garello from 1923 until her passing in 1978. The two had a son named Alfredo who also passed away from muscular dystrophy in 1956. He had his second son Piero, with his mistress Lina Lardi in 1945. 

Enzo Ferrari passed away in Italy at the age of 90 on August 14, 1988. He was later inducted into the International Motorsports Hall of Fame and the Automotive Hall of Fame.

FAQs

Did Enzo Ferrari meet Lamborghini?

According to sources, the two have only met once in their entire lives. 

Did Enzo sell Ferrari?

Enzo Ferrari sold 50% of Ferarri to FIAT, they later even extended their ownership from 50% to 90%.

Who inspired Enzo Ferrari?

He was reportedly amazed by Felice Nazzaro's win at the 1908 Circuito di Bologna.