"Enzo Ferrari was so determined to protect his young son from the dangers of motor sport, that he ordered his workers not to let the boy sit in team cars so he wouldn’t ever dream of becoming a racing driver."
More than five decades later, the Ferrari legacy is about to make the son a billionaire as the world’s most iconic maker of supercars completes an initial public offering.
The now 70-year-old Piero Ferrari will have a fortune of $1.3 billion, mainly derived from his 10 percent stake in the Italian company, according to the Bloomberg Billionaires Index.
Ferrari and its prancing horse logo transcend the current tumult in the industry, plagued by the emissions-cheating scandal at Volkswagen AG.
Famous owners over the years have included Elvis Presley and Ralph Lauren. Nine of the 10 most valuable cars ever sold at public auction carry the company’s name.
Full Article: "The market is valuing it as a luxury-goods maker. There are very few companies this successful with that scale and capacity to become truly global luxury brands."