Ferrari chairman John Elkann has reached a deal with Italian tax authorities to end a long-running dispute over inheritance taxes, agreeing to pay €183 million (£158.4m; $214m) alongside a year of community service.
The agreement, which also involves his brother and sister and stems from the estate of their grandmother following her death in 2019, does not include any admission of guilt from Elkann. A criminal investigation tied to potential tax fraud will be dropped if a judge signs off the settlement, with the details of his community service still to be defined.
It’s a striking headline around one of the most influential figures in Formula 1. Elkann’s a constant presence in the background of Maranello’s racing operation—Fred Vasseur runs the day-to-day on the pit wall—but the chairman’s voice carries across Ferrari’s broader strategy. He also chairs Stellantis, the automotive giant that includes Fiat, Jeep, Peugeot, Maserati, Alfa Romeo and Chrysler among its brands.
Elkann was front and center in the move that shook the sport at the start of this season: convincing Lewis Hamilton to swap Mercedes for Ferrari. The partnership hasn’t yet produced the instant domination some optimists dreamed up, but Elkann has bristled at the idea that Hamilton’s signing was some cynical marketing play.
“I think it’s really unfair to Lewis,” he told Time magazine earlier this year. “Truth said, Lewis doesn’t need that. Ferrari doesn’t need that. What we need to do is win championships and do great things on the track. If that happens, what we can do outside of the track, in some ways, takes care of itself. There’s unlimited possibilities.”
The market certainly liked the move. After Hamilton’s arrival was confirmed, Ferrari’s value surged—an estimated $7–10 billion added—with shares up around 10 percent. The brand power is obvious; now the racing has to complete the picture.
As for Elkann, his plate remains full well beyond the Scuderia. In January he joined the board of Meta Platforms, and his personal wealth is estimated at $2.8 billion. The optics of a tax settlement and community service aren’t ideal for a global industrial figurehead, but the terms are clear: pay the bill, perform the service, and move on—subject to a judge’s approval.
Inside Ferrari, the focus doesn’t shift. The team’s 2025 campaign continues under the microscope, with the Hamilton–Leclerc pairing tasked with delivering the consistency that’s eluded Maranello in recent seasons. Elkann’s influence is often felt rather than seen, but it’s hard to overstate it: on long‑term investment, on personnel calls, and on the posture Ferrari takes as F1 readies itself for the next regulation era.
For now, the legal chapter is close to a full stop. The racing chapter, as ever with Ferrari, is judged every other Sunday.
