Ferrari chair to do community service over tax case
Summary
John Elkann, chair of Ferrari and Stellantis, agreed to do one year of community service and pay millions of euros to resolve a tax dispute in Italy. He and his siblings will pay €183 million to settle allegations they failed to declare assets and income from their grandmother's estate. The case is part of a larger family dispute over the inheritance from Gianni Agnelli, the former Fiat boss.Key Facts
- John Elkann and his siblings will pay €183 million to the Italian tax authorities.
- They settled a case involving alleged failure to declare €1 billion in assets and €248.5 million in income.
- The tax dispute is related to the estate of their grandmother, Marella Caracciolo, who passed away in 2019.
- John Elkann agreed to one year of community service as part of the settlement.
- The agreement with tax authorities does not include an admission of liability.
- There is an ongoing civil case between the Elkann siblings and their mother over the inheritance from Gianni Agnelli.
- John Elkann has been the chair of Ferrari since 2018 and of Stellantis since 2021.
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