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Scan for outdated or missing drivers - takes under a minuteDriver Scan →Clear out junk files and repair common Windows errorsFree Scan →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Ferrari is not owned by one person or one family. It is Ferrari N.V., a publicly traded company with two major reference shareholders and a broad public shareholder base. Exor, the investment holding company linked to the Agnelli family, is the largest shareholder by common shares. Piero Ferrari holds his interest through Trust Piero Ferrari and also holds the usufruct, meaning the right to use and vote, over a significant block of shares. The exact percentages depend on which measure you use and on the date, and the difference matters more than most articles on this question admit.
Ownership figures as of February 4, 2026
The most complete published table comes from Ferrari N.V.’s 2025 Annual Report, which doubles as its Form 20-F filing. Its ownership table is dated February 4, 2026 and separates common shares, which carry the economic interest, from voting power, which can be higher for some holders.
| Holder | Measure | Figure | Date and source |
|---|---|---|---|
| Exor N.V. | Common shares | 21.33% (37,768,613 shares) | February 4, 2026; Ferrari N.V. 2025 Annual Report / Form 20-F |
| Exor N.V. | Voting power | 32.32% | February 4, 2026; Ferrari N.V. 2025 Annual Report / Form 20-F |
| Trust Piero Ferrari | Common shares | 10.67% (18,894,295 shares) | February 4, 2026; Ferrari N.V. 2025 Annual Report / Form 20-F |
| Piero Ferrari (usufruct over the trust’s shares) | Voting power | 16.17% | February 4, 2026; Ferrari N.V. 2025 Annual Report / Form 20-F |
| BlackRock | Common shares / voting rights | 3.80% / 3.38% | February 4, 2026 table; Ferrari N.V. 2025 Annual Report / Form 20-F |
| Other public shareholders | Common shares / voting rights | 64.20% / 48.13% | February 4, 2026; Ferrari N.V. 2025 Annual Report / Form 20-F |
| Exor N.V. (company page) | Economic rights / voting rights | 19.5% / 32.5% | June 30, 2026; Exor N.V. Ferrari company page |
Three points keep these figures accurate. First, the Exor rows from February 2026 and the Exor row from June 2026 are separate snapshots and should not be averaged or combined. Second, the Piero Ferrari figure is a voting measure tied to the usufruct, not an additional shareholding on top of the trust’s 10.67%. Third, the rows should not be added together to reach 100%; they overlap in how they are measured. The annual report also notes a separate BlackRock disclosure to the Dutch regulator, the AFM, dated January 15, 2026, which uses different figures and denominators. If you quote BlackRock, name the source and date that match the number.
These are the figures for February and June 2026. For current holdings, check Ferrari’s most recent investor filings, since stakes change.
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Exor and the Agnelli family link
Exor is the largest single shareholder in Ferrari, but it is not Ferrari’s owner in the sense of holding the whole company. Its own ownership page says Giovanni Agnelli B.V. held 54.94% of Exor’s economic rights and 83.97% of its voting rights as of December 31, 2025. Giovanni Agnelli B.V.’s shares are held by descendants of Giovanni Agnelli. The chain is therefore: Giovanni Agnelli’s descendants hold Giovanni Agnelli B.V., which controls Exor, and Exor holds a significant Ferrari stake.
That is an indirect link to the Agnelli family. It is not a claim that the family owns all of Ferrari. Ferrari has public shareholders, and Trust Piero Ferrari is a separate major holder.
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Piero Ferrari and Trust Piero Ferrari
Piero Ferrari’s connection to the company runs through Trust Piero Ferrari. The trust holds the shares, which represented about 10.67% of Ferrari’s outstanding common shares on February 4, 2026. Piero Ferrari holds the usufruct over those shares, which gives him the right to exercise their voting rights. That usufruct corresponds to about 16.17% of voting power.
Keeping these two measures separate is the most common source of error in articles about Piero Ferrari. “Owns 10.67%” and “controls 16.17% of votes” describe the same trust from different angles, and neither is the whole picture of influence at the company.
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Why voting power can differ from ownership
Ferrari operates a loyalty voting program. According to the 2025 Annual Report, it rewards shareholders who keep their shares over time by granting special voting shares. Exor and Trust Piero Ferrari both participate. That is why Exor’s 21.33% of common shares becomes 32.32% of voting power, and why the trust’s 10.67% of common shares is not the same as its share of votes.
A voting percentage tells you who can influence shareholder meetings. It does not tell you how much of Ferrari’s economic value a holder receives. Use common shares or economic rights for questions about economic ownership, and voting power for questions about control at general meetings.
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The January 2026 shareholder agreement
On January 3, 2026, Exor announced a renewed shareholder agreement with Piero Ferrari and Trust Piero Ferrari. Exor’s statement describes it this way: “The agreement provides for consultation arrangements designed to allow the parties to coordinate their positions on matters to be resolved at general meetings of Ferrari shareholders and sets out reciprocal rights of first offer in case of transfers of Ferrari shares to third parties.”
The agreement enters into force when the previous agreement expires. It runs three years, until January 4, 2029, and renews automatically for another three years unless terminated under its terms. It coordinates positions and gives each side a right of first offer if the other wants to sell. It does not transfer ownership, merge the two parties’ holdings, or give either party sole control of Ferrari.
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Is Ferrari Italian or Dutch?
Ferrari N.V. is a holding company under Dutch law. Its official seat is in Amsterdam, the Netherlands, according to Ferrari’s corporate page. Its corporate address is in Maranello, Italy, where the company is headquartered and where its cars are built. The Dutch legal structure does not change Ferrari’s Italian identity or its manufacturing base. In practice, Ferrari is an Italian company with a Dutch legal parent.
Fiat, Fiat Chrysler and Stellantis
Ferrari’s annual report refers to Stellantis as its former largest shareholder, through its predecessor Fiat Chrysler Automobiles. Stellantis is not a current shareholder in the figures above. If you see older articles describing Fiat or Stellantis as Ferrari’s owner, they reflect an earlier ownership structure. Ferrari’s current shareholders are the holders in the February 2026 table and the June 2026 Exor snapshot.
Checklist for quoting Ferrari ownership
- Name the measure: common shares, economic rights, or voting power.
- Give the date: February 4, 2026 for the annual-report table, June 30, 2026 for Exor’s company page, December 31, 2025 for the Giovanni Agnelli B.V. structure in Exor.
- Name the source: the Ferrari N.V. 2025 Annual Report / Form 20-F, Exor N.V.’s Ferrari company page, or Exor N.V.’s ownership structure page.
- Do not add the holders together or describe any single figure as Ferrari’s total ownership.
- Do not quote a share price or market capitalization without a dated market-data source, since those change daily.
The article does not quote market value for that reason. Ownership questions are answered by the registered shareholdings and voting rights, which are the numbers that matter here.
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