Francesco Gaetano Caltagirone
Francesco Gaetano Caltagirone | |
|---|---|
| Born | March 2, 1943 Rome, Italy |
| Occupation | Entrepreneur |
| Known for | Founder and chairman of Caltagirone S.p.A. |
| Notable work | Ownership of Cementir S.p.A., Caltagirone Editore, Vianini Lavori |
Francesco Gaetano Caltagirone (; born 2 March 1943) is an Italian entrepreneur who oversees the holding company Caltagirone S.p.A., which operates in sectors such as cement production, real estate development, construction, and publishing through Caltagirone Editore.
In 2015, he was ranked #894 on the Forbes list of billionaires and placed 19th among Italian billionaires, with an estimated fortune of $2.1 billion.
Early life
Originating from Rome in a family of industrialists, his grandfather was responsible for constructing some of the earliest buildings in Palermo during the late 19th century.
Career
While pursuing engineering studies in Rome, Caltagirone, together with his brothers Edoardo and Leonardo, revived their family enterprise that had been paused in the 1940s following their father's passing. They relaunched the business alongside their cousin Gaetano Caltagirone, an architect and industrialist.
Francesco became a partner as the enterprise—now recognized as Caltagirone Group or Caltagirone S.p.A.—has since completed roughly 200 real estate projects covering nearly 3.3 million square meters, with an estimated value of €15 billion.
During the 1970s, Francesco obtained majority ownership together with his brother Edoardo. In 1984, he purchased Vianini Lavori S.p.A., a company specializing in major infrastructure projects globally, and assumed its presidency. He restructured the firm and took its subsidiaries Vianini Lavori S.p.A. Industry and Vianini Industria S.p.A. public.
In 1992, he acquired control of Cementir S.p.A., Italy’s fourth-largest cement producer, from IRI through a public tender. Under the leadership of his son Francesco Jr., Cementir expanded internationally with substantial activities in Scandinavia, Turkey, and Asia, with approximately 80% of its revenue generated outside Italy.
By the mid-1990s, Francesco consolidated his influence over the group by merging his shares with those of cousin Gaetano within Finanziaria Italia; he owns around 70% of Finanziaria Italia, which holds about 51% of Caltagirone S.p.A.
In the publishing sector, he bought the Rome-based newspaper Il Messaggero in 1996 from Montedison Group, followed by acquisitions of Naples-based Il Mattino and Ancona-based Corriere Adriatico in 1997. These publications were integrated under Caltagirone Editore, ranking as Italy’s fifth-largest publishing group. In 2006, he secured a majority stake in Venice’s Il Gazzettino.
Caltagirone is a member of the Executive Committee of Confindustria and participates in the President’s Committee of the Italian Federation of Newspaper Publishers. Additionally, he serves on the board of Rome's Auditorium Parco della Musica.
In 2006, he was honored as a Knight of the Order of Merit for Labour. That same year, he was appointed vice-president of Banca Monte dei Paschi di Siena, maintaining his position as its second-largest private shareholder until divesting completely by early 2012. He joined the board of Assicurazioni Generali S.p.A. in 2007 and was promoted to Vice President in April 2010.
Personal life
He is married to Luisa Farinon, who is the sister of former television host Gabriella Farinon. Together, they have three children: Francesco Jr., Alessandro, and Azzurra, who was formerly married to Italian politician Pier Ferdinando Casini.
Key subsidiaries
- Caltagirone S.p.A.
- Cementir S.p.A.
- Caltagirone Editore S.p.A.
- Vianini Lavori S.p.A.
- Vianini Industria S.p.A.
Significant investments
- Assicurazioni Generali S.p.A.
- Unicredit S.p.A.
- Acea S.p.A.
- Grandi Stazioni S.p.A. (through Eurostazioni S.p.A.)
Distinctions and recognitions
- : Awarded Knight of the Order of Merit for Labour on 1 June 2006