Showing posts with label Fininvest. Show all posts
Showing posts with label Fininvest. Show all posts

10 August 2018

Marina Berlusconi - businesswoman

Tycoon’s daughter who heads two of his companies


Marina Berlusconi has been president of her father's Fininvest company since 2005
Marina Berlusconi has been president of her
father's Fininvest company since 2005
Marina Berlusconi, the oldest of business tycoon and former Italian prime minister Silvio Berlusconi’s five children, was born on this day in 1966 in Milan.

Since 2003 she has been chair of Arnoldo Mondadori Editore, Italy’s largest publishing company, and since 2005 president of Fininvest, the Berlusconi holding company that is also Mondadori’s parent company.

She is or at times has been a director of several other Berlusconi companies, including Mediaset, Medusa Film, Mediolanum and Mediobanca.  Forbes magazine once described her as the most powerful woman in Italy and one of the 50 most powerful women in the world.

Born Maria Elvira Berlusconi, her mother is Carla Elvira Lucia Dall’Oglio, a woman the businessman met for the first time at a tram stop outside Milan Centrale railway station in 1964 and married the following year, at a time when he was an enterprising but relatively obscure real estate broker.

They were divorced in 1985, much to the disappointment of Marina and her brother, Piersilvio, after their father had begun a relationship with the actress Veronica Lario, who would become his second wife and the mother of his third, fourth and fifth children.

Marina Berlusconi has acquired the reputation of a hard-nosed businesswoman
Marina Berlusconi has acquired the reputation
of a hard-nosed businesswoman
After Silvio Berlusconi had made his fortune from Milano Due, a vast residential area built on cheaply-acquired redundant farmland near the city’s Linate airport, Marina was brought up in the family’s palatial 18th century home, the Villa San Martino, in the town of Arcore, about 25km (16 miles) northeast of Milan.

Educated at Leo Dehon high school in Monza, where she obtained her baccalaureate, Marina began studying law and then political science at university but left without completing her degree and instead began to work in her father’s companies.

She was appointed a vice-president of Fininvest at the age of 29 and was said to be closely involved in the development of financial and economic strategies and in the management of the group. At a time when female figures in Italian boardrooms were rare, she began to gain a reputation as a hard-nosed businesswoman not afraid to back her own instincts.

In 1998, working with her brother Piersilvio, she resisted an attempt by Rupert Murdoch to buy a controlling interest in her father’s TV company Mediaset, the Australian-born media tycoon dropping out after failing to negotiate a reduction in the price she felt the company was worth, when it was thought her father might soften.

In October 2005, she was appointed Fininvest president and chair, having already been given control of Arnoldo Mondadori publishing house following the death of Leonardo Mondadori, the grandson of the company’s founder.

Berlusconi addressing a shareholders' meeting at Mondadori
Berlusconi addressing a shareholders'
meeting at Mondadori
According to Forbes, in 2008 she was the ninth richest heiress in the world, in line to inherit a fortune of 9.4 billion dollars.

In the same year, she married her long-time partner, the former first dancer at Milan’s Teatro alla Scala, Maurizio Vanadia. They already had two children, Gabriele and Silvio, born respectively in 2002 and 2004.

Marina had been taken with Maurizio after watching him perform in Swan Lake and they met again when he was being treated for an injury by the physiotherapist at her father’s football club, AC Milan.

They were married in a small ceremony in a private chapel within the grounds of the family home at Villa San Martino.

Since 2013, when her father, who has been prime minister of four Italian governments, was barred from public office, there have been several periods of speculation that Marina would move into politics, taking control of her father’s Forza Italia party.

However, she has always denied that she has any political ambitions, despite describing her father as the victim of a witchhunt. In 2017 she said: "I think that the leadership in politics can not be transmitted by investiture or by dynastic succession".

In 2009 the Mayor of Milan, Letizia Moratti - a former Berlusconi minister -  awarded her the Gold Medal of the Municipality of Milan as "an example of Milanese excellence in the world and the ability to reconcile professional commitment and family life"

An 18th century painting of the Villa Borromeo-d'Adda
An 18th century painting of the Villa Borromeo-d'Adda
Travel tip:

The town of Arcore in the province of Monza and Brianza probably has Roman origins and two monasteries were established in the area in the Middle Ages. It was not until the 16th century that the town began to develop, when several noble Lombard families, such as the Casati, Durini, Giulini, Vismara, D'Adda, Barbò families, began building villas in the area’s attractive countryside, including the Villa Borromeo-d'Adda, the Villa la Cazzola and the Villa San Martino, which became the Berlusconi family residence. The town’s industrial base developed after Italian unification in 1861 when two railway companies opened stations.

Silvio Berlusconi's palatial home at Arcore, the Villa San Martino, which he bought in 1974
Silvio Berlusconi's palatial home at Arcore, the Villa San
Martino, which he bought in 1974
Travel tip:

The Villa San Martino, on the site of a former Benedictine monastery, was restored as a manor house by the Counts Giulini and substantially rebuilt by the wealthy Casati Stampa family in the 18th century, one of a group of grand farm houses or hunting lodges known as the ville delizie.  It was acquired by Silvio Berlusconi in 1974 when the last Casati owner, having fallen on hard times, decided to sell up and emigrate to Brazil. The 3,500m² villa, complete with art gallery, a library of ten thousand volumes, furniture and a park with stables, was valued at 1.7 billion lire but was reportedly bought by Berlusconi for only 500m lire.

More reading:

The rise of Silvio Berlusconi in business and politics

How Letizia Moratti became the first woman to be head of Rai

The day Prime Minister Silvio Berlusconi left office for the last time

Also on this day:

1535: The death of Ippolito de' Medici

2012: The death of Carlo Rambaldi, creator of E.T.

Home

29 September 2016

Silvio Berlusconi - entrepreneur and politician

Businessman now barred from office but still leading his party


Silvio Berlusconi is Italy's longest serving post-war Prime Minister
Silvio Berlusconi is Italy's longest serving
post-war Prime Minister
Silvio Berlusconi, who has served as Prime Minister of Italy in four Governments, was born on this day in 1936 in Milan.

Head of a large media empire and owner of the football club AC Milan, Berlusconi was Prime Minister for a total of nine years, making him the longest-serving post-war Prime Minister and the third longest-serving since Italian unification.

Berlusconi was the eldest of three children born to a bank employee and his wife and, after completing his secondary school education, he studied Law at the Università Statale in Milan, graduating with honours in 1961.

While at University he played the double bass in a group and occasionally performed as a cruise ship crooner. In later life he was to co-write both AC Milan’s and Forza Italia’s anthems and, in collaboration with Mariano Apicella, a Neapolitan singer and musician, he wrote the lyrics for two albums of Neapolitan-style songs, which Apicella put to music.

In the late 1960s, Berlusconi’s company, Edilnord, built 4,000 residential apartments in a new 'town' he called Milano Due and he was able to use the profits to fund his future businesses.

In 1973 he set up Italy's first private television network, TeleMilano and went on to buy two further television channels. He founded the media group Fininvest, which expanded into a country-wide network of local television stations.

In 1980 he founded Italy’s first private national television network, Canale 5. He followed this with Italia 1 and Rete 4, all of which come under the umbrella of another Berlusconi company, Mediaset, of which Fininvest is the largest shareholder.

Berlusconi in his days as a singer on a  cruise ship
Berlusconi in his days as a singer on a
cruise ship 
Berlusconi was helped by his connection with Bettino Craxi, secretary-general of the Italian Socialist Party, who was Prime Minister at the time. In October 1984 Craxi’s Government passed an emergency decree legalising the nationwide transmissions made by Berlusconi’s television stations. In 1990, Craxi was to be one of Berlusconi’s best men at his second wedding.

Berlusconi was elected to the Chamber of Deputies for the first time in 1994. He became Prime Minister the same year, after his party, Forza Italia, gained a majority just three months after it was launched.

He was defeated in the elections of 1996 but won again in 2001, holding on to power till 2006, when he was defeated by a narrow margin. He became Prime Minister again in 2008 and led the Government until he had to resign in 2011. After the 2013 general election he became a member of the Senate.

While in power Berlusconi was criticised for his dominance of the Italian media and was also undermined by allegations of sex scandals.

He became embroiled in a number of court proceedings for alleged abuse of office and corruption and in 2013 was sentenced to a one-year prison sentence, but later acquitted of the offence of which he was accused.

Berlusconi has also been convicted of tax fraud but, because he was more than 70 years of age, was exempted from imprisonment and ordered to do unpaid community work.

The Senate has been forced to expel him and bar him from holding public office for six years.

UPDATE: Berlusconi, having pledged to remain leader of Forza Italia throughout the remaining period of his public office ban, was elected as an MEP at the 2019 European Parliament election and returned to the Senate after winning a seat in the 2022 Italian general election. He died in June 2023 after suffering from chronic leukaemia. 

The Italian government granted him a state funeral, which took place in the Duomo in Milan, before his body was cremated at the Tempio Crematorio Valenziano Panta Rei in Alessandria, and his ashes buried in the chapel at his Villa San Martino mansion in Arcore, next to the tomb of his parents Luigi and Rosa, and his sister Maria.

Travel tip:

Silvio Berlusconi’s football club, AC Milan, play at the Stadio Giuseppe Meazza in the San Siro district of Milan. The club’s administrative headquarters are about three kilometres from the ground in Via Aldo Rossi in the Portello district, accessible from the centre of Milan via Linea 1 on the metro, getting off at the QT8 station. At the same location is the Mondo Milan museum, which charts the 117-year history of the club, founded in 1899 by two Englishmen, Alfred Edwards and Herbert Kilpin.

Silvio Berlusconi's home, the Villa San Martino, is in the  town of Arcore, north-east of Milan
Silvio Berlusconi's home, the Villa San Martino, is in the
town of Arcore, north-east of Milan
Travel tip:

Silvio Berlusconi’s personal residence, the Villa San Martino, is about 20 kilometres to the north east of Milan, in the town of Arcore in the province of Monza and Brianza. Berlusconi’s home, along with other important villas in the area, was built in the 16th century by a wealthy noble Lombardian family.

More reading:



Berlusconi and Gianni Rivera - poles apart politically, linked by AC Milan

Giuseppe Meazza - Italian football's first superstar

Matteo Renzi - Italy's youngest Prime Minister

Books:




The Italians, by John Hooper




(Photo of Villa San Martino by MarkusMark CC BY-SA 3.0)

Home