John Elkann

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John Elkann
Margherita Agnelli
  • Alain Elkann
  • Relatives
    (cousin)

    John Philip Jacob Elkann (born 1 April 1976) is an Italian industrialist. In 1997, he became the chosen heir of his maternal grandfather

    Kennedys.[2]

    Elkann chairs the automaker

    Fiat Chrysler and the PSA Group. He is the leader of a group that controls 14 brands, with production sites in 29 countries, employs 400,000 people, and is present in over 130 markets.[5]

    Early life and family

    Born in New York City on 1 April 1976,

    Caracciolo di Castagneto); his great-grandfather was the industrialist Edoardo Agnelli, and his great-great-grandfather was Giovanni Agnelli, founder of Fiat S.p.A.[14] His paternal great-grand-uncle was the banker Ettore Ovazza.[15] He has a brother, Lapo Elkann, and a sister, Ginevra Elkann,[16] as well as five half-siblings from his mother's second marriage, as Margherita Agnelli de Pahlen, to Serge de Pahlen. His younger half-siblings are Maria (born 1983), Pierre (born 1986), twins Sophie and Anna (born 1988), and Tatiana (born 1990).[17][18]

    Elkann attended primary school in both the United Kingdom and Brazil,

    Lycée Victor-Duruy in 1994.[21][22][23] Later that same year, he moved to Italy to attend the Polytechnic University of Turin, where he graduated with a degree in management engineering in 2000;[24][25] his thesis was entirely dedicated to e-commerce and online auctions.[25] As a result of his international upbringing, he is fluent in four languages, including Italian, English, French, and Portuguese.[26]

    Career

    While pursuing a degree in engineering, Elkann gained work experience through several internships. They included a headlight plant in Birmingham, England (1996); a production line in Tychy, Poland (1997); a car dealership in Lille, France (1998); and at General Electric's corporate initiatives group where he worked on a thesis on e-auctions (1999).[27][28] In December 1997, at the age of 21,[25][29] he was selected as the heir of his grandfather Gianni Agnelli in place of Giovanni Alberto Agnelli, the son of Gianni's younger brother, Umberto Agnelli,[25] who had died at the age of 33.[30][31] He was appointed to the Fiat S.p.A. board that same year,[32][33][34] when he was 22, the same age his grandfather Gianni also joined it in 1943,[27] and to the board of Giovanni Agnelli Sapaz (now Giovanni Agnelli B.V.), the family partnership controlling Exor.[27][28]

    In 2000, after graduating in Engineering from the Polytechnic University of Turin, he joined General Electric's Corporate Audit program. He left General Electric two years later;

    Fiat Group. He was instrumental in the appointment of Fiat Chrysler Automobiles (FCA) CEO Sergio Marchionne in May 2004.[37][38]

    After the death of Gianni in 2003,

    The Financial Times called Elkann's appointment "a confirmation of change that could prove to be the making of a new Fiat and also of the Agnelli family's future fortunes."[49][50]

    In February 2011, Elkann was appointed chairman and CEO of Exor.

    Bill Ford Jr. as a mentor.[65] That same year, he was included by Fortune in the world's most influential managers under the age of 40.[66]

    Elkann at the New York Stock Exchange in 2014

    In a November 2013 interview to Campden FB, Elkann said he wanted to change capitalism. He said: "There is an alternative to financial investors and professional investment managers, and that's what we want to be. You need to be able to portray business to society in a favourable way. All the emphasis has been on shareholder value, not stakeholder value. One of the benefits of family businesses is they focus on all stakeholders."[67] Guido Corbetta, a professor at Bocconi University in Milan and a family business expert, said that one of the biggest achievements at Exor was the management of the succession to Elkann from his grandfather. Corbetta said: "He was dominant. Anyone succeeding him would have huge shoes to fill. But the fact that Elkann has done so and managed to beat his own path, distancing himself a lot from his grandfather's particular style of running businesses and being successful, is a great achievement for Fiat, the Agnelli family, and even more so Elkann."[68] In 2015, Elkann acquired the insurer company PartnerRe[19] and took part at Ferrari’s debut as a listed company in stock exchange in Wall Street.[69][70]

    Having previously held a seat on

    centrist, Turin-based La Stampa.[71]

    In July 2018, a few days before the death of Marchionne, Elkann was chosen to take his place at Ferrari.

    autonomous vehicles.[76] In May 2019, he tried to also enlist Renault.[77][78] In December 2019, it was announced that FCA and Peugeot had reached an agreement to merge.[79] In July 2020, he and FCA's CEO Mike Manley announced that the name of the combined company would be Stellantis.[80][81]

    In March 2020, Elkann and FCA's board of directors agreed to forego their remaining compensation for 2020 due to the

    CEO of Ferrari until the appointment of Benedetto Vigna.[85][86][87] In May 2021, Elkann was nominated Knight of the Order of Merit for Labour in the automotive industry by Italy's president Sergio Mattarella.[88] In 2021, Forbes estimated his net worth to be around US$2 billion.[89]

    In two January 2023 interviews to La Repubblica and La Stampa,

    electric 500 will also be exported to the USA. We have relaunched the Maserati and Alfa Romeo brands and we are relaunching Lancia. Furthermore, today we produce in Italy and sell models of highly successful non-Italian brands, such as Jeep, all over the world."[93]

    On 15 May 2023 he announced as a founder the launch of Lingotto, an investment management company fully owned by Exor and headquartered in London.[94]

    Sports

    Juventus F.C.

    As CEO of Exor, Elkann represents the ownership of

    chairman of Juventus.[96][97]

    Ferrari

    As Executive Chairman of Ferrari, Elkann has a controlling interest in the auto racing team Scuderia Ferrari, which most notably competes in Formula One as a constructor[98] and at the 24 Hours of Le Mans, where it returned as a protagonist in 2023, winning the centenary edition of the race after a fifty-year period of absence as a car manufacturer.[99]

    Philanthropy

    Elkann supports various philanthropic activities. He is chairman of the Agnelli Foundation, a non-profit organization supporting education through scientific research and initiatives.

    Education and research

    Since 2014, Fondazione Agnelli has offered Italian students and their families a free online portal where they can find which secondary schools in their area provide the best preparation for university and the workplace.[100] Together with Compagnia di San Paolo through Fondazione Agnelli he launched Torino fa scuola, a project dedicated to the renovation of school buildings in the city area.[101]

    Starting from July 2020, Elkann supported the launch and expansion of the Arcipelago Educativo project, co-designed and promoted by the Agnelli Foundation, Exor, and Save the Children to fight the risk of dropping out of students due to the lockdown caused by the COVID-19 pandemic.[102]

    In April 2019, along with CERN's Director-General Fabiola Gianotti and the Italian architect Renzo Piano, Elkann participated in a media event to unveil Science Gateway, a new scientific education and outreach centre of CERN, which aims to share knowledge and technology for free with society.[103] The project was funded through external donations, through the Stellantis Foundation as the main supporter.[104] On 21 June 2021 he celebrated a further step forward with the laying of the first stone, and then attended the official inauguration in October 2023, where he remembered Sergio Marchionne, to whom the auditorium of the structure is dedicated.[105][106]

    Emergency aid

    In May 2019, Elkann took part to the 28th edition of the

    Civil Protection Department and to La Stampa Foundation – Specchio dei tempi, a social assistance organization that operates in Piedmont, to respond to the local health and social needs in the city of Turin and Piedmont.[109] Elkann and his wife Lavinia are also among the supporters of Crescere Insieme al Sant'Anna, a philanthropic project aiming at expanding and improving the neonatal intensive care unit of the main public pedriatic hospital of Turin.[110] On 9 May 2016, the first neonatal intensive care unit was inaugurated.[111]

    Personal life

    Elkann was baptized and raised

    Catholic.[112] Nicknamed Jaki,[113][114] or Yaki,[115][116] he has lived in United Kingdom, Brazil, France, and Italy. He married Donna Lavinia Borromeo (born Lavinia Ida Borromeo-Arese on 10 March 1977 in Milan) a member of the prominent Italian aristocratic family the House of Borromeo.[117] She is the daughter of Don Carlo Ferdinando Borromeo, Count of Arona, Piedmont (born in 1935), the son of Vitaliano Borromeo, 2nd Prince of Angera. Her half-sister is Beatrice Borromeo, the wife of Pierre Casiraghi, who is eighth in the line of succession to the Monegasque throne. They married on 4 September 2004 in a Catholic ceremony in the Cappella Bianca on Isola Madre, one of the Borromean Islands of Lake Maggiore.[118] They have three children: Leone,[119] Oceano,[120] and Vita.[121][122]

    Innovation and technology

    An engineer by training, he declares himself passionate about technology and pursues interests in this field. Since 2009, Elkann has been attending the annual media and tech conference organized in July every year by Allen & Co at

    Bilderberg Group and the only Italian other than journalist Lilli Gruber. In 2012, Elkann attended the annual meeting of the Bilderberg Group in Chantilly, Virginia.[126][127]

    In February 2018, Elkann appeared as one of the protagonists on the podcast series by

    Fiat Chrysler group.[128] In June 2018, he invited Hoffman, Xavier Niel, Peter Thiel, and other global tech leaders to the SEI Torino Forum for the international launch of the new School of Entrepreneurship and Innovation of Turin,[129] an initiative supported by the Agnelli Foundation helping university level students to start new businesses; it opened on 21 March 2018.[130][131] In 2019 he personally supported through Exor and Gedi Gruppo editoriale the birth of the Italian Tech Week, an Italian tech event[132] that during the years had guests like Elon Musk[133][134] and Stripe founder Patrick Collison.[135] In September 2023 edition of the event he directly interviewed Airbnb CEO Brian Chesky.[136] In February 2021, he was a guest on the Italian Tech Speak podcast, where he described his relationship with technology and innovation.[137]

    In December 2021, he was included in Bloomberg's list of the "50 Most Influential people and ideas that defined global business in 2021" for the merger of FCA with the PSA Group to form Stellantis, which started its trading with a $52.7 billion market value.[138]

    Through Exor Ventures (formerly known as Exor Seeds), an investment program dedicated to startups, he has invested over 500 million euros in innovation and entrepreneurship projects since 2018. Starting from 2022, through Vento, he is launching venture building calls specifically aimed at young entrepreneurs.[139]

    Yachting and motorsport

    Elkann, Giovanni Soldini, and the Maserati Multi V70 at the finish line of the 2020 Rolex Middle Sea Race

    A yachtsman, Elkann took part as owner in the March 2012

    Alfa Romeo 1900 C Super Sprint.[160][161][162]

    In 2013, Elkann participated in the

    regatta.[164] In January 2015, he took part with Soldini in the Maserati team in the Rorc Caribbean 600 Race, a regatta that has been held since February throughout the Caribbean; the team had to retire due to damage to the hydraulic system.[165] Soldini stated that a new San FranciscoShanghai record attempt with the Maserati was expected in May 2015.[166] They succeeded in doing so at 21 days, 19 hours, 32 minutes, and 54 seconds.[167]

    In May 2016, Elkann took part in the 100th edition of the Targa Florio car race in Palermo.[168][169] In January 2020, he participated in the 16th edition of the Cape2Rio aboard Soldini's VOR70 Maserati, sailing 3.600 miles from Cape Town to Rio de Janeiro.[170][171] In October 2020, once again aboard with Soldini, he conquered the first position at the 41st edition of the Rolex Middle Sea Race with the Maserati Multi 70.[172][173] In August 2021, he kicked off the 89th edition of the 24 Hours of Le Mans, which saw the participation of the new Le Mans Hypercar, a class in which Ferrari would enter starting from 2023.[174]

    Offices

    Elkan is the chief executive officer of

    Bilderberg Group.[178] Elkann is a member of the JP Morgan International Council, and was vice-chairman of Italy's Aspen Institute.[28]

    Awards and honours

    Ancestry

    Notes

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    Bibliography

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