Gilberto Benetton
Gilberto Benetton | |
|---|---|
| Born | Template:Birth date Italy |
| Died | October 22, 2018 (aged 77) Treviso, Italy |
| Occupation(s) | Entrepreneur, businessman |
| Known for | Co-founder of Benetton Group |
| Notable work | Founder of United Colours of Benetton, owner of Treviso Basket |
Gilberto Benetton (19 June 1941 – 22 October 2018) was an Italian billionaire entrepreneur and co-founder of the Benetton Group, a prominent fashion company established alongside his siblings. In October 2018, Forbes valued his personal fortune, as well as that of each sibling, at approximately US$2.7 billion. By mid-2018, the enterprise he helped build possessed assets totaling €12.1 billion.
Career
Following the death of his father, Benetton left formal education at age 14 and initially worked locally before launching United Colours of Benetton with his brothers and sister in 1965. The business began with a small-scale production setup in Ponzano Veneto near Venice, eventually gaining recognition for its vibrant apparel and expanding to over 100 countries by the 1980s, which elevated the family to billionaire status.
After establishing a strong presence in fashion, Benetton broadened his interests into infrastructure sectors such as highways, telecommunications, catering services, and agriculture. He took ownership of Autogrill, a motorway food service provider, and Atlantia, which controls Autostrade and holds contracts related to roadways and airports. His investment portfolio also included shares in Telecom Italia, Mediobanca, Pirelli, and RCS Mediagroup. In 2018, he spearheaded the purchase of Abertis from the Spanish corporation ACS.
The Benetton Group gained notoriety for its daring advertising campaigns that confronted social issues including sexuality, war, racism, and AIDS. Although it grew into one of the largest global retail chains with around 5,000 outlets across 120 countries, its sales have experienced a downturn since the start of the 21st century.
Originally, the four Benetton siblings each owned equal stakes in Edizione, their family holding company overseeing Atlantia. Gilberto held positions as chairman and later vice-president of Edizione and served as vice-president of Autogrill until his passing. He was the only family member sitting on Atlantia’s board of directors.
In August 2018, Atlantia encountered significant challenges following the collapse of the Genoa bridge—managed by one of its subsidiaries—which resulted in 43 fatalities. Accusations emerged suggesting known structural deficiencies had not been adequately addressed. This tragedy caused a €2 billion decline in Edizione’s market value.
Prior to his death, Benetton appointed Marco Patuano, an executive outside the family circle, to oversee Edizione with the intention of managing it akin to a sovereign wealth fund. Gilberto’s daughter Sabrina is anticipated to take over his board responsibilities.
Personal life
Benetton was married to Lalla and had two daughters named Barbara and Sabrina; the family resided in Treviso, Italy. He was inducted into the Italian Basketball Hall of Fame in 2012 due to his role as owner of the professional basketball team Treviso Basket. His involvement began with sponsorship in 1978; he acquired ownership in 1980 and supported the club financially through his businesses. The Benettons also sponsored rugby and volleyball teams in Treviso but divested their basketball and volleyball interests in 2012 to concentrate solely on rugby.
Following the Genoa bridge disaster and the passing of his brother Carlo in July, reports indicated that Benetton’s health deteriorated. He died at age 77 on 22 October 2018 at his residence in Treviso. According to statements from the Benetton Group, he was accompanied by his wife Lalla, daughters Barbara and Sabrina, along with his son-in-law Ermanno during his final moments.