FLAVIO BRIATORE’S NETWORTH: THE ITALIAN MOGUL CRUISING THE KENYAN COAST
Known for Co-Owning and Chairing English football club Queen Park Rangers, managing two Formula One racing teams and his international and exquisite resort, Billionaire’s Resort. Although living rather a reclusive lifestyle just like most of his peers.
Briatore is one of the most influential people in Kenya and Europe and holds a current net worth of $400 million (KSh.49.6 billion).
Back in the 1980s, the Italian mogul was convicted several times for fraud and convicted to serve time twice but never did.
The Italian mogul has faced several accusations including match fixing and fraud, he was once accused of fixing the 2008 Singapore Grand Prix and was forced to resign from ING Renault.
Born in 1950 in Verzuolo, Italy, Mr. Briatore started working as a restaurant manager and ski instructor and later an insurance salesman. He later moved to Cuneo, Italy, where he would become an assistant to one Italian businessman, Attilio Dutto. Thereafter, he moved to Milan to work for Finanziaria Generale Italia at the Italian Stock Exchange where he met with the co-founder of Benetton Group, Luciano Benetton.
Convictions and his rise to wealth
In 1984, Briatore was sentenced to one year and six months in prison which was later reduced to one year. In 1986 he was again convicted for fraud in match fixing and sentenced to three years in prison. Though an appeal was filed in the year 1987 to reduce his sentence to one year and two months, Briatore flew to live as a fugitive in Saint Thomas in Virgin Islands in order to avoid serving time. He later returned to Europe after all his convictions were eliminated.
During his time in the Virgin Islands, Briatore maintained a very close relationship with Luciano Benetton and launched Benetton franchise in the island which rose to popularity in the Americas in such a short while, with Briatore’s move of maintaining a cut in every franchise, he became wealthy through Benetton.
Formula One Affiliation
With his connection to Benetton, Briatore was appointed as the commercial director of Benneton’s team, Benetton Formula Ltd, where after he attended the Australian Grand Prix, his first Formula One race, and later rose to the Managing Director.
During his tenure as the director, Briatore recruited a young and aspiring driver, Michael Shumacher, who contributed to the most successes of the team; winning the Belgian Grand Prix in 1992, Portuguese Grand Prix in 1993, World Drivers’ Championship both in 1994 and 1995.
Other Endeavours
From the year 1998 onwards, Briatore developed a line of haute couture called Billionaire Italian Couture and a line of resorts, he opened Cipriani’s restaurant in London in 2004, and he also owned nearly 50% of the pharmaceutical company Pierrel. One of his most popular Hotels in Africa is the Billionaires Resort in Coastal Kenya.
Throughout time the Italian business mogul has enjoyed a life of luxury including dating super models the likes of Naomi Campbell, Elisabetta Gregoraci and Heidi Klum. Some of the influential people he has interacted with include former Chelsea owner, Roman Abramovich, former Kenyan President, Uhuru Kenyatta, Jay Z and Beyonce.
