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

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

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NEW YORK, NY - OCTOBER 21: Piero Ferrari, son of Ferrari Automotive Company founder Enzo Ferrari and Vice Chairman of the company, poses with a Ferrari outside the New York Stock Exchange after the company's IPO on October 21, 2015 in New York City. Ferrari will trade under the symbol RACE. (Photo by Andrew Burton/Getty Images)

$RACE

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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S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.