John Elkann, chairman of both Ferrari and Stellantis, and his siblings Lapo and Ginevra, have reached an agreement with Italian tax authorities to resolve a long-running inheritance tax dispute. The settlement involves a payment of €183 million (£159 million) and a commitment to one year of community service, effectively closing the criminal investigation without an admission of guilt.
Settlement Terms
According to their lawyer, Paolo Siniscalchi, the deal allows the Elkann siblings to avoid further prosecution. The agreement does not require them to acknowledge any wrongdoing. Instead, John Elkann has been asked to propose where he could perform his community service, with options under consideration including volunteer work at a retirement home or supporting people in recovery from addiction.
Under Italian law, the court must approve any probationary activity. If completed successfully, the case against Elkann will be dismissed, as has already happened for his brother and sister.
“This resolution provides clarity while allowing the family to move forward,” Siniscalchi noted.
Background of the Case
The legal matter dates back to the estate of Marella Caracciolo, the siblings’ grandmother, who died in 2019. Prosecutors alleged that the family failed to declare approximately €1 billion in assets and an additional €248.5 million in income, tied to Marella’s residence in Switzerland. Authorities argued this resulted in unpaid inheritance taxes owed to Italy.
After years of legal wrangling, the payment and probation agreement have now put an end to the criminal proceedings.
Wider Family Disputes
This inheritance tax case is just one piece of a larger and more complex family saga. At the center of the broader disputes is the estate of Gianni Agnelli, the legendary industrialist who served as head of Fiat and was one of Italy’s most influential business leaders of the 20th century.
Following Gianni Agnelli’s death in 2003, his widow Marella and daughter Margherita inherited significant portions of his estate. Margherita Agnelli, however, has since launched a civil lawsuit challenging earlier inheritance agreements, particularly as they relate to the fortunes of her children from a second marriage.
While she received an estimated €1.2 billion, Margherita’s legal team has argued that previous arrangements unfairly favored her children with Gianni, including John, Lapo, and Ginevra. Her lawyers welcomed the closure of the criminal case, saying it provides an opportunity to focus on the ongoing civil proceedings.
John Elkann’s Role in Business
John Elkann, now 48, is widely regarded as one of the most powerful figures in European industry. As the eldest child of Margherita Agnelli, he became a key figure in the Agnelli dynasty’s business empire at a relatively young age.
Elkann joined the board of Fiat in 1997, rising through the ranks to eventually serve as chairman. Since then, he has overseen significant transformations, including the merger that created Stellantis in 2021, now the world’s fourth-largest carmaker by volume. He also became chairman of Ferrari in 2018, steering the luxury carmaker through a period of global expansion.
Despite the legal distractions, Elkann has largely been credited with ensuring the continuity of the Agnelli family’s influence in both Italian industry and global markets.
Looking Ahead
The tax settlement allows Elkann and his siblings to avoid drawn-out court battles and potential criminal liability. While the financial payment is substantial, it is unlikely to have a major impact on the family’s overall fortune, estimated at several billion euros.
The focus now shifts to how Elkann will fulfill his year of community service, as well as the outcome of the separate civil dispute involving his mother. Observers note that the case illustrates the intersection of wealth, legacy, and accountability in one of Europe’s most prominent dynasties.
For Italy, the case also highlights the government’s continued scrutiny of inheritance tax obligations, particularly for wealthy families with cross-border estates.
As for Elkann, his business leadership at Ferrari and Stellantis continues unaffected. With the settlement in place, the chairman appears keen to move past legal challenges and maintain his attention on steering two of the world’s most recognized automotive brands.