1988BusinessVERIFIED

Enzo Ferrari Dies and the Company Enters a New Ownership Era

14 August 1988

Enzo Ferrari died in Modena on 14 August 1988 at the age of 90. Following his death, Fiat increased its holding in Ferrari S.p.A. from 50 to 90 percent, while Piero Ferrari retained the remaining 10 percent.

Unknown photographer — Wikimedia Commons — Public domain

Jacques Swaters with Enzo Ferrari in 1980, a late-period image of Ferrari’s founder before his death in 1988. · Unknown photographer — Wikimedia Commons — Public domain

Automotive significance

Enzo Ferrari’s death closed the founder-led period that had shaped both the company and Scuderia Ferrari for decades. The ownership change that followed was equally significant: Ferrari did not become wholly owned by Fiat, and Piero Ferrari remained a shareholder. This structure provided a new corporate framework while leaving the Ferrari name, road-car operation and racing identity distinct.

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