Ferrari (NYSE:RACE)Heir’s Net Worth Way Up on Success of Stock


Piero Ferrari, 74 anni, is the son and only living heir of Enzo Ferrari founder of the iconic Italian Supercar maker that bears his name.

When he was a boy, Enzo did not want him to get into the F1 or sports car racing business.

Young Piero was never allowed to even sit in the family racecars and was really discouraged from considering getting into car racing.

That being the iron rule of Enzo, Piero went off and earned a degree in engineering from the University of Modena.

He started working at Ferrari (NYSE:RACE) as an English translator for his father and later as supervisor of the production of road cars and co-organizer of the racing department. When Enzo Ferrari died in Y 1988, Piero was the sole heir and was made Vice Chairman of Ferrari.

Piero is the son of Enzo and his mistress Lina Lardi, as divorce was illegal in Italy until Y 1975, he was not recognized as Enzo’s son until after Laura Ferrari’s death in Y 1978. Piero was not allowed to take the Ferrari name until after Enzo’s death in Y 1988, but at that time he was handed the Ferrari company.

Ferrari is the Aristocrat of the automotive sector.

Enzo Ferrari’s iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos.

HeffX-LTN overall technical outlook for RACE is Very Bullish, overhead resistance is at 174.31, and very strong support at 165.96, all Key indicators are Very Bullish in here. Ferrari finished at 166.50, -2.20 Friday in NY.

Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term investment, and I see it at 200/share in that frame.

Have a terrific week

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