In brief
John Elkann, the chairman of Ferrari, has agreed to a settlement regarding a tax dispute with Italian authorities. Elkann and his siblings will pay €183 million in taxes linked to their late grandmother's estate. As part of the agreement, he will serve one year of community service, though without admitting to any legal wrongdoing. This resolution comes amid ongoing family disputes over significant inheritance issues.
The chair of Ferrari and Stellantis has agreed to do one year of community service and jointly pay millions of euros to settle a dispute over inheritance tax in Italy.
John Elkann and his siblings Lapo and Ginerva will pay €183m (£159m) to Italian tax authorities, according to multiple media reports. Elkann's lawyer stated that the agreement did not include any admission of liability.
John Elkann, a prominent figure in one of Italy's most influential families, is the grandson of Fiat's former boss, Gianni Agnelli. The tax dispute arose from the estate of Marella Caracciolo, Elkann's grandmother, who passed away in 2019.
Elkann will propose where he might perform his community service, potentially at facilities assisting the elderly or those struggling with drug addiction.
According to Elkann's attorney, the settlement offers a chance to conclude this difficult matter. He emphasized that the agreement does not imply an acknowledgment of guilt.
Allegations against the Elkann siblings include failing to declare approximately €1bn in assets, as they claimed their grandmother was a Swiss resident. Prosecutors have accepted the settlement deal and requested to dismiss criminal cases against Elkann’s siblings.
This case is part of a larger family dispute involving Elkann’s mother, Margherita Agnelli, regarding her father’s estate, which has descended into ongoing civil litigation since his death over two decades ago.
Elkann is the eldest child of Margherita Agnelli and has held significant roles within the automotive industry since 1997. His positions at Stellantis began in 2021 and he became the Ferrari chair in 2018.
