Italy’s Warren Buffett Is Missing a Few Billion Dollars
The pandemic has left John Elkann with less financial firepower for deals and his Exor holding company trades at a steep discount to net asset value.
It’s not a race.
Photographer: Peter Fox/Getty Images EuropeJohn Elkann, scion of Italy’s billionaire Agnelli family, makes a point of hiring the highest-quality managers to oversee the clan’s automotive, reinsurance and media holdings — leaders who can “walk the talk” as he puts it. One hopes he applies the same rigor when recruiting someone to organize his calendar.
Besides his main job at the family holding company, Exor NV, Elkann added the title of acting chief executive officer of Ferrari NV shortly before Christmas when Louis Camilleri unexpectedly stepped down. The 44-year-old Elkann told investors this week that he won’t rush the search for a successor. Last month he also became chairman of the merged Fiat Chrysler and Peugeot, a giant carmaker with the uninspiring name Stellantis NV.