Silvio Scaglia
Silvio Scaglia | |
|---|---|
| Born | October 14, 1958 Lucerne, Switzerland |
| Occupation(s) | Entrepreneur in media and technology sectors |
| Known for | Founder of Fastweb, co-owner of Freedom Holding, founder of SHS management |
Silvio Scaglia (born 14 October 1958) is an entrepreneur in the media and technology sectors, originally from Switzerland. He is the founder of Fastweb, a prominent telecommunications provider in Italy. Scaglia also holds co-ownership of Freedom Holding (previously Pacific Global Management Group), the parent company of the Elite World Group. In 2020, he established SHS management, a company specializing in AI-powered asset management.
Early life and education
Scaglia was born in Lucerne, Switzerland, and earned his electronic engineering degree cum laude from the Polytechnic University of Turin in 1983.
Early career
His professional journey started at Aeritalia Spazio, where he contributed to the Tethered satellite initiative in collaboration with NASA and Martin Marietta. Following this, he spent three years at Andersen Consulting working as a programmer and project manager.
In 1986, Scaglia joined McKinsey & Company, providing consultancy services to automotive companies across Germany and Italy, including Italian manufacturer Piaggio & C. SpA. During the early 1990s, he served as general manager of Piaggio’s Spanish branch and collaborated closely with industrialist Giovanni Alberto Agnelli. He later advanced to Senior Vice President, overseeing Piaggio’s expansion efforts into markets such as China, India, and Latin America under Agnelli’s guidance.
Omnitel
In 1995, Scaglia was appointed CEO of Omnitel, taking charge of the company following its acquisition of Italy's second mobile phone licence in 1994. He held this position until 1999.
Fastweb
Identifying the opportunity in integrated IP telecommunications, Scaglia co-founded e.Biscom in July 1999 alongside financier Francesco Micheli and other executives. Their objective was to create a fully IP-based triple-play fibre-optic network across Italy. e.Biscom was the first operator worldwide to offer comprehensive IP technology combined with fibre-optic services for both residential and business clients.
In March 2000, e.Biscom launched its initial public offering on the Italian New Market Stock Exchange, securing €1.6 billion to fund nationwide expansion of its fibre-optic infrastructure. This IPO ranked as Italy's second-largest at the time, valuing the company above €10 billion.
By January 2001, Scaglia was featured on the cover of Forbes Magazine for Fastweb’s groundbreaking telecom advancements. In 2003, Time Magazine recognized him among the foremost technology innovators globally, naming him the sole Italian on their “tech survivors” list highlighting key pioneers of the new economy.
In 2004, e.Biscom merged with Fastweb, adopting the Fastweb brand and concentrating on broadband telecommunications over Italy’s fixed-line network.
By 2006, Fastweb had become Italy’s leading alternative broadband provider with a customer base exceeding one million and annual revenues reaching €1.26 billion. It was the first company worldwide to establish a public fibre-optic network entirely based on Internet Protocol (IP), delivering integrated voice, data, and video services.
On 12 March 2007, Swisscom proposed a €5.7 billion acquisition offer for Fastweb. Subsequently, on 10 April 2007, Scaglia sold his 18.7% ownership stake to Swisscom but retained a seat on Fastweb’s board until his exit on 19 June 2007.
Babelgum
On 5 March 2007, Scaglia established Babelgum, an interactive TV platform delivering free, high-definition video content on demand. He portrayed it as “a professional alternative to YouTube,” designed to merge the immersive visual quality of traditional television with the interactive capabilities of the internet.
Babelgum inaugurated the Babelgum Online Film Festival on 1 September 2007, marking the first worldwide online event dedicated exclusively to independent cinema. Audiences participated by voting on shortlisted films while a jury of professionals, led by Spike Lee, determined the winners. Lee commended the platform as an innovative avenue for emerging filmmakers.
In 2008, following the dismissal of CEO Erik Lumer, CTO Mallku Caballero and chief architect Gianni Scenini resigned in protest. Months later, COO Michael O'Callaghan also departed. After disruptions linked to Scaglia’s legal challenges, Babelgum entered liquidation in 2012 and was subsequently closed.
Elite World
In 2011, Scaglia acquired Elite World, recognized as the largest global network of model management agencies and the pioneering talent media network worldwide.
Post-acquisition, Elite World experienced substantial growth driven by digital marketing initiatives and strategic acquisitions. It became the first international modeling agency network to establish an office in Shanghai, China, in 2012. In 2013, Elite World launched The Society Management in New York and took over Women Management’s branches in both New York and Paris.
La Perla
On 4 June 2013, Scaglia’s SMS Finance completed the purchase of lingerie and fashion brand La Perla for 69 million euros. In an interview with La Repubblica, he highlighted his personal dedication to revitalizing the brand, describing it as a new challenge following his previous successes with Omnitel and Fastweb.
Under Scaglia’s guidance, La Perla underwent a significant repositioning of its brand identity. Despite increased sales figures, the company was unable to recoup the capital invested. In February 2018, La Perla was sold to Sapinda Holding.
Yewno
In 2016, through his Pacific Capital investment fund (currently Freedom Holding Inc.), Scaglia invested in Yewno, a discovery platform developed by Ruggero Gramatica with support from Stanford University.
SHS
Scaglia founded SHS A.M. in 2020, a quantitative asset management firm grounded in knowledge-based investment strategies.
Legal troubles
Between 2010 and 2013, Scaglia faced allegations of fraud but was ultimately cleared of all accusations brought forth by Rome prosecutor Giancarlo Capaldo.
Fastweb investigation - Telecom Italia Sparkle
During his tenure as Fastweb CEO, Silvio Scaglia was investigated for “conspiracy to commit tax fraud” linked to the Fastweb-Telecom Italia Sparkle case. The purported tax evasion involved various paid service operators utilizing Fastweb and Telecom Italia Sparkle networks between 2003 and 2006.
On 23 February 2010, a Rome judge ordered preventive detention for Scaglia and others following a request from the anti-mafia prosecutor’s office. Scaglia voluntarily returned to Italy for interrogation on 26 February 2010.
The trial commenced on 23 November 2010. After nearly twelve months in preventive custody, Scaglia was released on 24 February 2011 by the Court of Rome. On 17 October 2013, he was acquitted of all charges with the court affirming his “complete non-involvement.” This decision was upheld by Rome’s Court of Appeal on 27 September 2017.
National media described the case as “unjust” and harmful to Italy’s economic interests. On 27 October 2013, then-Prime Minister Matteo Renzi cited Scaglia’s experience at the Leopolda conference in Florence as an example of judicial injustice that must not recur.
Legal Conflicts and Fraud Litigation
In February 2022, shortly after Julia Haart initiated divorce proceedings, Scaglia removed her from the CEO position at Elite World Group (EWG), the company they jointly owned. Haart challenged this action, arguing that her half ownership stake required her approval for any dismissal. Nevertheless, in August 2022, the Delaware Chancery Court determined Haart's ownership to be 49.99%, thereby affirming Scaglia as the majority shareholder with controlling interest.
Fraud Allegations
Haart brought a fraud claim in February 2023 against Scaglia, Paolo Barbieri, Jeffrey Feinman, and accounting firm DDK & Company, accusing them of falsely representing her equity share. Although the suit was initially dismissed, Haart appealed the decision. Subsequently, in October 2024, the New York Supreme Court Appellate Division permitted the lawsuit to move forward.
Arrest Warrant Issued
A New York court issued an arrest warrant for Scaglia in June 2024 after he was held in contempt for failing to pay $300,000 owed to Haart in legal fees. He received a 20-day jail sentence due to non-payment. Later that year, Scaglia cited financial difficulties and requested assignment of a public defender; however, Haart’s attorneys disputed this claim amid reports of his use of a luxury yacht and private jet during the summer months. These financial disagreements continue to be part of ongoing legal proceedings.
Divorce Ruling
In January 2025, Judge Pearlman ruled that Julia Haart holds a 50% stake in contested assets including Elite World Group, Freedom Holding, and a $65 million residential property. Additionally, Haart was granted power of attorney over Scaglia’s shares, effectively giving her full authority over these businesses and assets.
Personal Life
Scaglia’s first marriage was with Monica Aschei; their divorce was finalized in 2018. From this union, he has three grown children. His eldest daughter, Chiara Scaglia, previously held an executive position at La Perla and continues to be involved in the fashion sector.
He was wed to Julia Haart until she filed for divorce in early 2022. Currently, he is engaged to socialite Michelle-Marie Heinemann, who legally adopted the surname Scaglia in January 2023.
On March 1, 2010, Scaglia appeared at number 937 on the Forbes billionaire list. By 2024, he no longer qualified for inclusion on that list and cited financial hardship amid his legal disputes with Haart as grounds for requesting a court-appointed attorney.