Instant Alert: Meet the Ferrari heir who is about to become a billionaire

MANAGE SUBSCRIPTIONS   |   UNSUBSCRIBE   |   VIEW ONLINE   Meet the Ferrari heir who is about to become a billionaire by Benjamin Zhang on Oct 12, 2015, 11:26 AM Advertisement This month, Fiat Chrysler will spin off its most valuable asset – legendary Italian supercar maker Ferrari – in an IPO that values the company at nearly $10 billion. One of the biggest beneficiaries of the deal will be Piero Ferrari whose 10% stake in the company will make him a billionaire. Ferrari, who is currently a vice chairman of the company, has been involved with the family business for three decades. Unlike many heirs of high-profile companies, he has remained low key — preferring to work in the background as opposed to hunt for the spotlight. SEE ALSO: The 10 greatest Ferraris of all time The Ferrari IPO is expected to boost Piero Ferrari's net worth to an estimated $1.3 billion, according to the Bloomberg Billionaires Index. This includes a 10% stake in the family business that could be worth as much as $982 million. Born in 1945, Piero is the second and youngest child of Ferrari founder Enzo Ferrari. (Pictured here) Piero is the result of Enzo's long-standing relationship with Lina Lardi. Piero did not take the Ferrari surname until after the death of Enzo's wife, Laura, in 1978. See the rest of the story at Business Insider   Share the latest business news with your network: Email sent to:   |   Manage your email preferences   |   Unsubscribe Terms of Service   |   Privacy Policy Business Insider. 150 Fifth Avenue, New York, NY 10011