Five years ago, a grand 18th-century villa outside Turin became the setting for a dramatic family feud among Italy’s most celebrated business dynasty following the funeral of Marella Agnelli, widow of industrialist Gianni Agnelli. The event, rather than being a somber reunion, turned into a heated clash between the late couple’s only surviving child, Margherita, and her son John Elkann over her father’s multibillion-euro estate. Since then, the two have not seen each other, according to sources within the family.
This long-standing schism was recently brought back into the spotlight when authorities raided Elkann’s home and offices following a complaint by Margherita that he helped her mother evade Italian tax. Elkann, head of the family business and chair of carmaker Stellantis, has been at the center of this dispute over the legacy of Gianni Agnelli.
The fight over the estate, valued at billions of euros, includes assets such as Monet and Picasso artworks, as well as a stake in Dicembre, the parent company of conglomerate Exor. The value of Exor has seen a substantial increase under Elkann’s leadership since his grandfather’s passing more than two decades ago.
The feud began in 2004 when Margherita decided to exit the family business and received a substantial payout in exchange for relinquishing her stake in Dicembre. However, she later contested the agreement, claiming she was entitled to a share of her father’s hidden assets. This ongoing legal battle has divided the family, with Margherita’s children taking sides with Elkann, cutting off contact with their mother and half-siblings.
With the dispute escalating, questions around Marella’s residency in her later years have become a focal point. Margherita’s legal team argues that Marella resided in Italy, making Italian law applicable to the inheritance dispute. However, Elkann’s representatives maintain that Margherita waived her rights to further claims in the 2004 agreement.
As the legal battle continues, the future of the Agnelli dynasty remains uncertain, with rifts deepening between family members and the fate of Dicembre and Exor hanging in the balance.