The number of Italian billionaires has risen to 79, and their wealth continues to grow at a rapid pace. According to Forbes magazine’s ranking, Giovanni Ferrero, Andrea Pignataro, and Giancarlo Devasini remain the three richest people in Italy, dominating the list for 2025.
In total, the combined wealth of Italy’s 79 billionaires amounts to $357.2 billion, an increase of 5% compared to April this year and 65% more than in last year’s ranking. This trend reflects the global growth in the wealth of the ultra-rich. According to UBS, worldwide 2,919 billionaires have seen their wealth increase by 13% over the past 12 months, bringing the global total to $15.8 trillion. Moreover, a significant portion of this wealth will be inherited: over the next 15 years, around $5.9 trillion is expected to be transferred, including approximately $90 billion from Italian billionaires.
At the top of the Italian list stands Giovanni Ferrero, chairman and major shareholder of the Ferrero Group—best known for producing Nutella (with revenues of $18.4 billion in 2024)—and also the author of several novels. He is followed by Andrea Pignataro, with a fortune of $36.9 billion, largely built through the development of financial software via his company Ion and through his stake in the sportswear brand Macron.
In third place is Giancarlo Devasini, with $22.4 billion, the owner of Tether, the company that issues the world’s most widely used stablecoin. Recently, Devasini attempted to acquire full ownership of Juventus with a $1.1 billion offer, which was rejected, according to Corriere della Sera.
Beyond these three names, there are a few notable changes. Francesco Gaetano Caltagirone climbs to fourth place with $9.8 billion, benefiting from the vacancy left by Giorgio Armani, who passed away on September 4. The fashion designer’s heirs account for four of the five new entries on the list: Pantaleo Dell’Orco, Armani’s partner and collaborator, ranks 39th with $2.5 billion; Rosanna Armani and nephews Silvana Armani and Andrea Camerana share 72nd place with $1.1 billion each; while another niece, Roberta, ranks 78th with $1 billion.
Another new entry is Filippo Ghirelli, who in 2023 acquired 25% of the Indian refinery Nayara, controlled by Russia’s Rosneft. Among the wealthiest women stands out Massimiliana Landini Aleotti of the pharmaceutical company Menarini, who ranks sixth overall with $8.1 billion.
The list of Italy’s 79 billionaires reflects the steady growth of the country’s ultra-wealthy, a trend that, according to forecasts, will lead to significant intergenerational wealth transfers in the coming decades—cementing the powerful position of this economic elite for future generations.