Silvio Berlusconis Empire to Be Controlled by Oldest Children Marina and Pier Silvio, Who S

 Posted on February 25, 2024  |  4 minutes  |  736 words  |  Reinaldo Massengill

Those who were hoping for “Succession”-style infighting following Silvio Berlusconi’s death may be disappointed.

The will of Italy’s media-mogul and former prime minister – who died on June 12 at age 86 – was partly made public on Thursday. What emerged is that his eldest children, Marina and Pier Silvio, will together continue to control his business empire estimated to be worth around $6.8 billion, according to Forbes.

But, according to a statement issued by his five chilren, “No shareholder will exercise overall individual indirect control of Fininvest SpA previously exercised by their father.” Fininvest is the Berlusconi family holding company.

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Marina and Pier Silvio Berlusconi — who both already held chief executive roles respectively in Fininvest and in Berlusconi’s MFE-MediaForEurope, aka Mediaset TV business – will now hold equal stakes jointly amounting to a roughly 53% majority stake in the Fininvest family holding. Fininvest also owns publisher Mondadori; vast luxury real estate properties in Milan, Rome and Sardinia; Italian Serie A soccer club AC Monza and a large stake in the Banca Mediolanum asset management bank.

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Meanwhile, at a Mediaset upfront presentation in Milan on Tuesday, Pier Silvio strongly denied mounting speculation that after his father’s death MFE/Mediaset would be put up for sale. “The answer to the question of whether as a family we ever discussed selling Mediaset is ‘no’,” Berlusconi told reporters.

“What interests us is pressing ahead with a European industrial project which we believe in, namely a combination of European broadcasters,” he added.

Pier Silvio Berlusconi has been seeking to create a pan-European group (as reflected in the company’s rebranding) and has built a stake of roughly 30% in German media giant ProSiebenSat.1, which recently allowed him to obtain a seat on the rival group’s supervisory board.

Fininvest holds 48.5% of shares in MFE.

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