Flavio Briatore The Manager’s Net Worth 2023
Flavio Briatore The Manager’s Net Worth in 2023
| million dollars | |
| Date of birth | Apr 12, 1950 (73 years old) |
| Born in | Verzuolo, Italy |
| Nationality | Italy |
| Occupation | Sports Manager, Industrial Manager, Formula 1 Team Principal |
| Children | 2 (Leni Klum, Nathan Falco Briatore) |
How rich is Flavio Briatore?
Flavio Briatore is known to many people mainly because of two things: In 1994 and 1995, he made Michael Schumacher Formula 1 world champion as team boss of Benetton. And in 2003, he had a brief relationship with Heidi Klum, from which Leni Klum emerged. But Briatore is also a very successful businessman and entrepreneur. Flavio Briatore’s estimated net worth is €375 million.
Flavio Briatore’s Net Worth
Flavio Briatore earned much of his fortune as head of the American business of the fashion brand Benetton in the 1980s. In 1989, there were around 800 Benetton stores in the United States alone. His work as team principal in Formula 1 also brought him great income – first from 1989 to 1997 at Benetton Formula and then from 2001 to 2009 at Renault F1.
In addition, Briatore was and is active in various business fields. Thus, in 1998, he opened the Billionaires Nightclub in Sardinia. In 2012, a club in Marbella was added. Briatore also founded the fashion brand Billionaire Italian Couture. In 2004 he opened the restaurant Cipriani’s in London. He also owns a beach club in Tuscany and a holiday resort in Kenya. These ventures increase the millionaire’s fortune even further. In 2007, he, Bernie Ecclestone and Lakshmi Mittal bought English football club Queens Park Rangers. Briatore was president of the association until 2010 and co-owner until 2011.
Early Business Activities
After graduating from high school, Flavio Briatore trained as a surveyor, but never worked in this job. Instead, he first earned his money as a ski instructor. He also opened a restaurant, which he soon had to close due to financial difficulties. In the 1970s, Briatore became an assistant to entrepreneur Attilio Dutto. After his death in an assassination attempt on his car, Briatore worked for the Milan Stock Exchange. It was there that he met Luciano Benetton, the founder and CEO of the fashion company Benetton.
As a fugitive to Benetton’s head of America
Briatore was sentenced to prison in Italy in 1984 and 1986 for criminal financial transactions. Briatore, however, fled to the U.S. Virgin Islands to avoid having to face the penalties. During his time in America, he worked for Benetton and opened several of the brand’s stores in the Virgin Islands. In 1979, he became head of the company’s American operations, building up a handsome fortune in the process. When Briatore returned to Europe in 1989, his prison sentences were finally time-barred.
Head of Formula 1 World Champion Michael Schumacher
In 1989, Briatore became team principal of the Formula 1 racing team Benetton Formula. His greatest success came with the two world championship titles won by Michael Schumacher in 1994 and 1995. In 1996, Briatore bought shares in the F1 team Minardi, but was unable to resell them at a profit, as he had hoped. Instead, he had to sell them below value. In 1997 he finally left Benetton. From 1998 to 2000 he ran the company Supertec, which supplied various F1 teams with Renault engines.
Two more Formula 1 titles
In 2001, Briatore returned to Formula 1 as head of the Benetton-Renault team, which was renamed Renault F2002 from 1. Briatore discovered Fernando Alonso and led him to two world titles in 2005 and 2006. After it was revealed that Briatore had been involved in a deliberate accident involving his driver Nelson Piquet jr. in 2008. he was eventually dismissed by Renault. In 2009, he was also punished with a lifetime ban by the World Racing Federation. This was converted into a three-year ban in 2010.
Conclusion
Flavio Briatore is an Italian businessman who has a net worth of $400 million. Flavio Briatore is probably best-known for being the former manager of two Formula One racing teams. The most recent team was Renault F1. Flavio Briatore was also part-owner and chairman of London’s Queens Park Rangers F.C. from 2007 to 2010.
In the 80s, he was convicted on several charges of fraud, and received two prison sentences he ultimately never served. After Briatore was accused of race fixing at the 2008 Singapore Grand Prix, he was forced to resign from the ING Renault F1 team. Briatore was banned from any events sanctioned by the FIA after they completed their own investigation of the allegations. This decision was eventually overturned by the French Tribunal de Grande Instance.