MILAN (Reuters) – Former Italian Prime Minister Silvio Berlusconi, media magnate and political “stage performer”, died on Monday at the age of 86 without leaving an obvious heir.
The future of his financial interests will depend on how his 61% stake in the family holding company Fininvest is divided between his five children, from two different marriages.
THE ELDERS
The eldest, Marina (born August 1966) and Pier Silvio (April 1969), were both directly involved in running Silvio Berlusconi’s businesses soon after their father entered Italian politics in the early 1990s .
Marina, who chairs Fininvest, oversees the Italian press group Arnoldo Mondadori Editore, while Pier Silvio takes care of television activities, which have long been the family jewel.
THE YOUNGEST
Barbara (July 1984), Eleonora (May 1986) and Luigi (September 1988), born of a second union, do not have such important executive roles in the management of their father’s businesses.
Luigi represents his side of the family at Fininvest, where he is a board member, due to his interest in finance and wealth management.
SILVIO, THE “CEMENT”
Silvio Berlusconi is described by those close to him as “the cement” which allowed his children to remain united, despite their differences in age, attitude and ambition.
The big question is whether the family unit will continue after his death and what impact this could have on the future of the audiovisual sector on which Silvio Berlusconi built his fortune.
DISPOSAL OF ASSETS
In recent years, the Fininvest holding company has liquidated assets that it considered no longer strategic, such as the AC Milan football club, stakes in the biotechnology company Molmed and the Italian investment bank Mediobanca.
Fininvest has also confirmed its support for its media group MediaforEurope, backing growth plans in Europe through merger and acquisition operations to resist the American streaming giants.
It remains to be seen if this ambition will continue after the death of the founder.
(Report Elvira Pollina, Dina Kartit, edited by Kate Entringer)
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