Enzo Ferrari Net Worth at Death – Salary, Income, Earnings

Enzo Ferrari Net Worth 

Enzo Ferrari had an estimated net worth of $100 million at his death, after adjusting for inflation. The Italian Enzo Ferrari was a successful race car driver before devoting his life to building immensely powerful sports cars and a championship racing team. He earned most of his income from his business ventures. 

In 1919, Enzo Ferrari began his racing career. After retiring from racing in 1931, he joined Alfa Romeo and managed its racing division. Following WWII, the Ferrari marque gained notoriety as its drivers won numerous major championships. However, its founder experienced personal turmoil following the premature death of his son, and financial issues forced him to consider mergers with other automakers. Ferrari resigned as president of his company formally in 1977 and died in 1988.

To calculate the net worth of Enzo Ferrari, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as personal loans and mortgages, are included in total liabilities.

Here’s the breakdown of his net worth:

Name: Enzo Ferrari
Net Worth: $100 Million
Monthly Salary: $700 Thousand
Annual Income: $10 Million
Source of Wealth: Racecar driver and Founder of Ferrari

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Early Years

Enzo Anselmo Ferrari was born in Modena, Italy, on February 18, 1898. Ferrari, the second child of metalworker parents Adalgisa and Alfredo, was bitten by the racing bug at the age of ten, when his father took him to see a motor car race in Bologna.

Ferrari aspired to be an opera singer as well, but the deaths of his father and brother from the flu in 1916 forced him to mature quickly, and he dropped out of school to work as an instructor for Modena’s fire service workshop. Ferrari joined the Italian Army in 1917 and shoed mules for the 3rd Alpine Artillery Division, battling the flu and earning an honorable discharge.

Driving Career and Team Manager

Ferrari relocated to Milan in 1919 to work as a test driver for Costruzioni Meccaniche Nazionali. He made his racing debut with the company’s racing team at the 1919 Parma-Poggio di Berceto hillclimb race, finishing fourth in his division. The following year, he left CMN to join Alfa Romeo.

Following his victory at the Circuito del Savio in 1923, Ferrari met the parents of World War I flying ace Francesco Baracca, who advised the young driver to use the emblem that adorned their son’s plane for good luck. The emblem, a prancing horse, eventually came to represent the Ferrari marque’s power and prestige. Ferrari married Laura Dominica Garello that same year.

Despite his refusal to damage an engine by pushing it to its limits, Ferrari won a number of races and was honored by his country for his sporting achievements. He assembled his own team of drivers and engineers for his Scuderia Ferrari in 1929. (Ferrari Stable). The scuderia, which was mostly made up of Alfa Romeos, quickly became the automaker’s official racing arm.

Ferrari raced in his final race in August 1931, and in January 1932, he became a father with the birth of his beloved son Dino. Despite winning the German Grand Prix with one of his cars in 1935, he was forced to close his scuderia in 1937 when Alfa Romeo reclaimed its racing division. He left the company permanently in September 1939, with the condition that he not use the Ferrari name in connection with racing or automobiles for at least four years.

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Rise of Ferrari

Soon after leaving Alfa Romeo, Ferrari established Auto Avio Costruzioni in Modena with the intention of developing his own racing cars, but the outbreak of World War II forced the government to intervene. The company relocated its factory to nearby Maranello, where it concentrated on manufacturing grinding machines.

After the war, Ferrari resumed designing racing cars, and in March 1947, he took the first official Ferrari, the 125 S, for a test drive. That year, the marque won its first race, the Rome Grand Prix, and went on to win the Mille Miglia in 1948, the 24 Hours of Le Mans in 1949, and the British Grand Prix in 1951. Alberto Ascari, a Ferrari driver, won the world racing championship in 1952 and 1953. Around this time, the company also started producing cars for road use, with the rich and famous lining up to get their hands on one of these dazzling vehicles.

Personal and Company Turmoil

Despite rocketing to the top of the racing industry in the 1950s, Ferrari went through a period of intense personal turmoil. The death of his son Dino from muscular dystrophy in 1956 was the most devastating blow, turning him into a recluse. In addition, six of his drivers were killed between 1955 and 1965, and he was tried (and acquitted) of manslaughter after one of his cars crashed into a roadside crowd during the 1957 Mille Miglia, killing nine spectators.

In the “Palace Revolt” of 1961, Ferrari reportedly lost the services of several top engineers and executives due to a squabble over the intruding presence of his wife. Two years later, he held serious talks with Ford Motor Company about merging their operations, but withdrew at the last minute due to concerns about losing control. He eventually relinquished some control of the company in 1969, when financial problems forced him to sell a 50% stake to Fiat.

Dino Ferrari, Ferrari’s first son, died of muscular dystrophy in 1956, a devastating loss that drove Ferrari into seclusion.

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Later Years, Death and Legacy 

Ferrari formally resigned as president of his company in 1977, but he retained effective control of the company. After his wife died in 1978, he admitted to having another son, Piero, with his mistress Lina Lardi in 1945.

Ferrari died on August 14, 1988, in Maranello, shortly after receiving an honorary degree in physics from the University of Modena; no cause of death was given, though he was known to be suffering from kidney disease. Over the course of his career, his cars won over 4,000 races and 13 world championships. In 1994, he was inducted into the International Motorsports Hall of Fame in recognition of his achievements.

Enzo Ferrari Car

The Enzo Ferrari, named after the company’s founder, was built in 2002 and has a top speed of 218 miles per hour.

Movies

Ferrari automobiles continue to be recognized as top racing products and luxurious toys for the wealthy, while its founder remains a public figure of interest. His life story was portrayed in the 2003 film Ferrari and the 2019 film Ford v Ferrari, starring Christian Bale and Matt Damon.

Enzo Ferrari Quotes

I don’t sell cars; I sell engines. The cars I throw in for free since something has to hold the engines in.

 

Aerodynamics are for people who can’t build engines.

 

Race cars are neither beautiful nor ugly. They become beautiful when they win.

 

The most important victory is the one which has to arrive.

 

I gave (my drivers) three things: a sense of optimism, a creative environment, and the ultimate motivator-competition. By competing with each other in-house, we wound up beating our rivals.

 

Death will destroy my body, but my creatures will keep on living ever after, in the years to come.

 

Everyone dreams of driving a Ferrari, it was my intent from the start.

 

I am convinced, that when a man tells a woman he loves her, he only means that he desires her; and that the only total love in this world is that of a father for his son.

View our larger collection of the best Enzo Ferrari quotes.

Further Reading

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