Ferrari Chairman John Elkann to Perform Community Service in €183m Tax Dispute Settlement
John Elkann, chairman of Ferrari and Stellantis, has agreed to perform one year of community service and jointly pay €183 million (£159 million) to Italian tax authorities, bringing an end to a high-profile inheritance tax dispute involving one of Italy’s most influential families.
The agreement, announced by prosecutors on Monday, resolves allegations that Elkann and his siblings, Lapo and Ginevra Elkann, failed to declare approximately €1 billion in assets and €248.5 million in income linked to their late grandmother Marella Caracciolo’s estate. Caracciolo, widow of former Fiat chairman Gianni Agnelli, died in 2019.
Elkann’s lawyer, Paolo Siniscalchi, emphasized that the settlement does not include an admission of guilt, describing it as an opportunity to bring “this painful affair to a swift and definitive close.”
“John Elkann’s request for probation must be viewed in this context and does not entail any admission of responsibility,” Siniscalchi said. “If approved, the proceedings will be suspended, and upon successful completion of the probationary period, the charges will be fully extinguished.”
Elkann will propose where he intends to carry out his community service, which could involve volunteering at a care center for the elderly or a rehabilitation facility for people with drug addiction, according to Reuters.
Charges Dropped for Siblings
Prosecutors have asked the court to drop all criminal charges against Ginevra and Lapo Elkann, effectively clearing them of wrongdoing. Their mother, Margherita Agnelli, is engaged in a separate civil case against her three eldest children, challenging inheritance agreements signed in 2004 following Gianni Agnelli’s death.
The ongoing legal battle centers on Margherita’s efforts to ensure her estimated €1.2 billion inheritance benefits her five children from her second marriage, rather than her three oldest children, including John Elkann.
Margherita’s legal team welcomed the outcome of the tax settlement and dismissal of the criminal charges, calling it a “step forward” in resolving the family’s complex financial disputes.
Legacy of the Agnelli Dynasty
Gianni Agnelli, who passed away more than two decades ago, transformed Fiat from a regional carmaker into one of the world’s largest automotive groups. His grandson, John Elkann, has since risen to prominence, becoming chairman of Fiat before its merger with Peugeot’s parent company to form Stellantis in 2021. He has also served as Ferrari chairman since 2018.
While the settlement closes a significant chapter in the family’s legal troubles, the broader inheritance dispute remains unresolved, continuing to cast a shadow over the legacy of Italy’s most powerful industrial dynasty.
