Italian businessman Flavio Briatore: biography, personal life, hobbies

Flavio Briatore is an Italian entrepreneur who gained fame due to the successful leadership of the teams of Formula 1, Benetton and Renault, who won the Constructors' Championship three times, and their pilots four times became champions of the world.

short biography

Flavio Briatore was born in Verdzuolo near Cuneo, Italy, in the Maritime Alps, in the family of elementary school teachers. After receiving a diploma in geodesy, he began working as an insurance agent. In 1974 he moved to Cuneo, where he worked as a representative of the financial company CONAFI. At the same time Flavio engaged in real estate in Sardinia, the resort complex Isola Rossa, which a year later sold to an entrepreneur from Cuneo. In 1975, Briatore co-founded Cuneo Leasing, the largest leasing company in Italy, which was later acquired by De Benedetti Group. In 1977, he was appointed Managing Director of the company - leader of the paint market "Paramatty".

Introduction to Benetton

In 1979, Flavio Briatore moved to Milan, where he worked in the financial group Finanziaria Generale Italia. Here he met entrepreneur Luciano Benetton, who later will play a key role in his career.

In the early 80-ies, Briatore took part in the affairs associated with gambling. He received a term, but was later amnestied, and in 2010 rehabilitated by the Turin court. Briatore completely paid the damage to the victims.

In the mid-1980s, the Italian entrepreneur was in the United States, where, thanks to his close relationship with Luciano Benetton, he opened several clothing stores and actively promoted Benetton's expansion into the United States market.

"Formula 1"

Flavio Briatore first visited the Formula 1 race during the Australian Grand Prix in 1988. A year later, Luciano Benetton appointed him commercial director of Benetton Formula Ltd (formerly Toleman), based in England. Soon after that, Briatore was appointed managing director and turned Benetton into a competitive team. The Formula 1 manager introduced a unique and innovative management style: he considered motor racing not only a sport, but primarily a spectacle and a business, so he focused on marketing and communication as key elements to attract rich sponsors and prestigious partners.

Briatore hired and quickly fired engineer John Barnard. His place was taken by Tom Walkinshaw and together they began to restructure "Benetton". In 1991, Briatore quickly and farsightedly attracted a young rider Michael Schumacher from the "Jordan" and began to build a team around a talented German. In 1994, Schumacher won the drivers' championship, and then Briatore managed to form a strategic alliance with Renault, which in the following season gave Benetton an additional advantage due to a very powerful engine. In 1995, the team achieved double success when Schumacher won the World Drivers Championship, and Benetton Formula won the Constructors' Cup.

In 1993, Briatore created a search and management agency for racing drivers FB Management, which for many years served such talented drivers as Giancarlo Fisichella, Jarno Trulli, Robert Kubica, Max Webber and Pastor Maldonado. The world champion Fernando Alonso, whom Briatore discovered and gave to his agency in 1999, was only 18 years old.

In late 1994, the Italian entrepreneur acquired the French team Ligier, restructured it, and two years later she won the Monte-Carlo Grand Prix with Pani. In 1997, Briatore sold Ligier to Alan Prost, who renamed it "Prost Grand Prix" (the team ceased to exist in 2002).

In 1996 he bought "Minardi" and a year later sold it to Gabriela Rumi. In the same year, Michael Schumacher left "Benetton" and moved to "Ferrari".

In 1997, with the consent of the Benetton family, Briatore decided to leave the team, sold his shares to finance and conduct his new project, remaining in the "Formula-1". He created the company "Supertec", which employed 200 people, which became the leading supplier of engines for Formula 1. From 1998 to 2000, Supertec supplied engines to the teams Benetton, Williams, Bar and Arrow .

Children's shoes and pharmaceuticals

In the mid-90s, Briatore decided to diversify his interests. In 1995, he acquired the producer of children's shoes Kickers and soon after that he resold it. Then in 1998 he bought a small Italian pharmaceutical company Pierrel. Later it was acquired by an American group. Thanks to the dynamic and innovative business plan of Briatore and entrepreneur Canio Mazzaro, Pierrel was reconstructed and in 2006 successfully placed shares on the Italian stock exchange. After a few years, she became an international company and was on the list of those awarded for her achievements in the field of clinical research. In 2007, Briatore sold most of its shares, but still owns a small stake in the company.

Business in Luxury

In 1998, Briatore opened a nightclub on the Emerald Coast: Billionaire ("Billionaire") quickly became the favorite entertainment place for the rich of the world. For several years, the institution has received international fame, becoming a synonym for glamor and quality rest. The brand today is a holding of "luxury services", which includes night and beach clubs, restaurants, hotels and resorts.

The Renault team

In 2000, Flavio Briatore organized the purchase of "Benetton" by Renault, and the French car manufacturer appointed him the managing director of the Renault F1 team. Two years later, he also became the managing director of Renault Sport. The Italian businessman rebuilt the team, which numbered more than 1100 people working at enterprises in France and the UK, in its corporate style, moderating the budget, optimizing internal human resources, conducting aggressive marketing and communication strategy. Despite the fact that the Renault budget was the 5th among the Formula 1 teams, Renault F1 quickly progressed and in 2005 came to a double victory: Alonso won the drivers 'championship, and the team received the Constructors' Cup. The same impressive results were repeated in 2006, when Renault F1 received titles in both championships.

GP2 Series

In 2005, Briatore conceived and created a series of GP2, the championship, which was to become a testing ground and a showcase for talented drivers and engineers. In a short time, GP2 became the most popular and authoritative series of competitions after the "Formula 1". There were open riders such as Lewis Hamilton, Heiki Kovalainen, Nico Rosberg, Pastor Maldonado and Roman Grosjean.

In 2010, Briatore sold the successful GP2 to the CVC group, which already owned Formula One.

British football

In 2006, he, along with Bernie Ecclestone, acquired the English football team "Queens Park Rangers". In the course of the four-year plan, the club rose from Championships to the Premier League. In 2011, after the first 3 matches in the top division, Briatore and Ecclestone sold the team to Malaysian entrepreneur Tony Fernandez.

Conflict with the FIA

In July 2008, Formula 1 Team gathered to form FOTA. Briatore assumed the role of its commercial director (appointed by President Luca di Montezemolo) and held talks with the FIA about the future of Formula One. FOTA requested a reduction in costs due to the global economic crisis and the introduction of new rules aimed at increasing the spectacle of the competition. The Federation presented its own championship plan for 2010, which led to a conflict. After the meeting, organized by Briatore at the headquarters of Renault F1 on June 18, 2009, eight FOTA teams rejected the proposals of the FIA, decided to secede and organize their own championship. Eventually the parties reached an agreement and on June 29 at the World Council Max Mosley announced his resignation as president of the FIA, saying that the International Federation would not introduce any changes in 2010.

Suspension and rehabilitation

Not surprisingly, a month later the FIA launched an investigation into one of last year's races, the Singapore Grand Prix 2008. The Federation accused Briatore of being the head of the Renault F1, in forcing driver Nelson Piquet Jr. to stage an accident during the race in favor of his comrade's victory At the command of Fernando Alonso. On September 21, 2009, the FIA World Motor Sport Council (despite confirmation of the victory of Alonso and Renault), dismissed Flavio Briatore from participating in Formula One and conditionally disqualified the Renault team. He sued the International Automobile Federation, demanding the restoration of his reputation, and on January 5, 2010 the court in Paris annulled his suspension, stating the illegality of the procedure. The Tribunal also ordered the FIA to pay 15,000 euros in damages to Briatore and ruled that he could return to Formula One starting in the 2013 season.

Persecution in Italy

In May 2010, Italian customs officers detained the Blue Blue yacht on charges of evading VAT. The owner of the vessel is the company beneficially owned by Briatore. Prosecutors attributed the fact that the vessel was engaged in charter flights. In July, the judge stated that Force Blue could resume commercial activities under the supervision of an authorized manager until the closure of the case. The Italian financial police also seized EUR 1.5 million from Briatore's bank accounts on charges of tax evasion. However, the prosecutor's office canceled this decision and the amount was immediately returned to its owner.

Global expansion

In 2011, the international expansion of Billionaire Life continued on all fronts, including the Italian line of men's clothing Billionaire Couture, launched in 2005. The company is a joint venture with the Percassi business group, and the presence of the brand on the world market is steadily growing.

In November 2011, Flavio Briatore launched the first branch of his famous nightclub in Istanbul.

In the spring of 2012, an Italian entrepreneur opened the prestigious CIPRIANI club Monte Carlo and two summer in Porto Cervo: Billionaire Bodrum and Billionaire Monte Carlo.

The ambitious project Billionaire Resort, a luxurious residential complex in Malindi on the coast of Kenya, was completed in 2013. A modern and environmentally friendly, stunning resort is located next to the Lion in the Sun.

Today, Billionaire Life employs around 1,200 people in Europe and Africa.

In April 2013, Briatore gave her a new direction, selling most of the "recreation and entertainment" units, including Billionaire clubs in Porto Cervo, Istanbul, Bodrum and Twiga Beach Club to the prestigious investment fund from Singapore Bay Capital. The aim of the alliance is to expand the brand in Asia and the rest of the world.

In September 2012, Briatore first starred in the Italian version of the famous television show The Apprentice as Boss. The show became a cult, and in 2014 the second season was withdrawn.

Flavio Briatore and his women

An Italian entrepreneur who constantly appeared in scandalous novels with top models, including Naomi Campbell and Heidi Klum, who gave birth to his daughter Helen, in 2008 married the model Elisabetta Gregorachi. The couple have a son Falco Nathan, who was born on March 18, 2010.