"1.7 Trillion Won Is Not Enough"…Mother Sues Son from the 'Italy's Kennedy Family'

The inheritance dispute surrounding the legacy of the late Gianni Agnelli, the founder of Italy's world-renowned automobile company Fiat Group, is intensifying.

On the 15th (local time), Italian daily Corriere della Sera and others reported that the Turin prosecutor's office is currently investigating John Elkann, chairman of Stellantis and Ferrari, on charges of aiding tax evasion. The person who filed a criminal complaint against Chairman Elkann is Margherita Agnelli, Gianni Agnelli's daughter and Elkann's mother.

[Image provided by Ferrari]

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The Agnelli family is one of Italy's most prestigious families and is also known as "Italy's Kennedy family." This family controls not only Stellantis and Ferrari, which were formed by the merger of Fiat Chrysler (FCA) Group and Peugeot Citro?n (PSA) Group, but also the professional football team Juventus. However, since Gianni Agnelli's death in 2003, the Agnelli family has been embroiled in a severe inheritance dispute.

Gianni designated his eldest son John Elkann, one of the three children born to his daughter Margherita and her first husband, as the family successor. Margherita agreed to give up her shares in exchange for 1.2 billion euros (approximately 1.7213 trillion KRW). However, she later changed her mind and filed a lawsuit to cancel the contract.

Margherita had three children, including Elkann, with her first husband, and five more children with her second husband. Elkann, who was named the family successor, shared power only with his full siblings and neglected his half-siblings.

Margherita Agnelli, involved in an inheritance dispute, and her son John Elkann, chairman of Stellantis and Ferrari. [Image source=Italian daily Corriere della Sera·Yonhap News]

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This was also the case with Marella Caracciolo, Gianni's wife and Margherita's mother. In 2004, Marella left Gianni's inheritance only to the three children Margherita had with her first husband, including Elkann.

When Marella passed away in 2019, Margherita accused her mother of tax evasion and filed a complaint against Chairman Elkann for aiding tax evasion. The accusation was based on the fact that although Marella was said to have inherited the estate under Swiss law because she resided in Switzerland at the time, she actually spent most of her time in Italy. Following Margherita's complaint, the Turin prosecutor's office is investigating whether Marella truly resided in Switzerland.

Chairman Elkann is also under investigation for aiding tax evasion. Margherita is separately suing Elkann over ownership of the family's art collection, which includes works by Francis Bacon, Pablo Picasso, and Claude Monet.

Although they are mother and son, it is reported that they have been out of contact since 2004. Elkann's lawyers stated in court that they will continue to fight against Margherita. They said, "Margherita has been harassing her parents and three children in court for 20 years," and "She is ignoring the contract she signed." In response, Margherita's lawyers said, "Margherita has only acted to ensure that all eight children receive fair treatment."

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