Tre Marie Founder Enzo Ricci Donates €400 Million Fortune to Nephew

Enzo Ricci, the industrialist famously known as the “king of panettone” following his leadership of the Tre Marie brand, has finalized a significant transfer of his wealth. On April 30, the 91-year-old entrepreneur completed a legal transfer of assets valued at over 400 million euros to his 52-year-old nephew, Alessandro Ricci. The transaction, executed before a notary, effectively secures the future of his extensive real estate and financial holdings while Ricci remains alive.

Did You Know? The assets transferred include a prominent building on Via Montenapoleone in Milan—currently leased to Dolce & Gabbana—which carries a valuation of 92 million euros.

A Strategic Succession Plan

The transfer encompasses a diverse portfolio, including an 18% stake in a publicly traded company, various apartments, shops, and offices in Milan’s historic center, as well as a large property in Sanremo housing a Banca Intesa Sanpaolo branch. The operation centres on two primary holding companies: Viris, which manages financial investments, and Milaninvest Real Estate.

While the nephew has received the “bare ownership” of these assets, Enzo Ricci has retained the “usufruct,” allowing him to maintain usage rights during his lifetime. Alessandro Ricci, who already held a 50% stake in Milaninvest, now secures full ownership of the holding company, further cementing his central role in the management of the family’s business interests.

Expert Insight: By opting for a lifetime transfer rather than a traditional post-mortem succession, Ricci is likely aiming to ensure a seamless transition of control. This move minimizes potential future legal complexities and allows the next generation to solidify their operational authority while the original architect of the wealth is still available to oversee the transition.

Future Implications

Following this consolidation, the management of the Ricci family’s real estate and investment portfolio is expected to continue under the direction of Alessandro Ricci. Given that the family has historically invested liquid assets from the sale of the Tre Marie brand—sold to Barilla in 1987—into real estate ventures, including partnerships with Filcasa, observers anticipate that the current investment strategy may remain consistent with these long-standing professional relationships.

As Alessandro Ricci continues to maintain a notably low public profile, his future leadership style and the potential for new investment directions remain subjects of speculation. Whether the family will continue its current trajectory or pivot toward new sectors remains to be seen as the younger Ricci assumes full ownership of the substantial holdings.

Frequently Asked Questions

What assets were included in the transfer to Alessandro Ricci?

The transfer includes an 18% stake in a publicly traded company, various apartments, shops, and offices in Milan, a building on Via Montenapoleone, a property in Sanremo, and various investments in funds, startups, and liquid assets.

Unboxing Tre Marie Panettone Typical Italian Dessert .

What role does Alessandro Ricci currently play in the family business?

Alessandro Ricci, who is 52, already held a 50% stake in the Milaninvest real estate holding company and serves in a central role in its management. He also serves as the vice president of the Paletti Ricci foundation.

Did Enzo Ricci lose control of his assets immediately?

No, while the “bare ownership” of the assets has been transferred to his nephew, Enzo Ricci has retained the “usufruct,” meaning he maintains the right to benefit from the assets during his lifetime.

How do you view the trend of high-net-worth individuals moving toward early, lifetime wealth transfers to ensure business continuity?