Turin, Italy – September 29 – Ferrari and Stellantis president John Elkann was caught off guard on Monday when lawyers presented a handwritten note from 1998, allegedly authored by Gianni Agnelli.

The emergence of this document has reignited a long-standing inheritance battle led by Margherita Agnelli, Elkann’s mother, and may reshape the division of the Dicembre holding company, which controls Ferrari and holds a decisive stake in Stellantis.

The case surfaces 20 years after Gianni Agnelli’s death, potentially reopening the 2004 settlement that secured Elkann’s leadership. According to Reuters, this legal twist could impact billions in assets.

---

The Heart of the Dispute

Key Point	Details
Main Document	A handwritten note dated 1998, attributed to Gianni Agnelli
Current Battle	Margherita Agnelli seeks to contest the 2004 inheritance agreement
Assets Involved	Ferrari (luxury automotive icon) and Stellantis (Fiat, Jeep, Peugeot, and more)
Legal Position	Elkann’s lawyers argue the note has no legal effect
Margherita’s Claim	25% of Dicembre should have been transferred to her late son Edoardo, and then to her and her children from a second marriage

---

Possible Implications

• Ferrari 🏎️
  Risk of boardroom disputes and possible shifts in shareholder control.
• Stellantis 🚗
  Potential instability in strategic decision-making, which could affect future partnerships or mergers.
• Market Reaction 💹
  Investors remain cautious, given Exor’s central role in European automotive investments.

---

Statements From Both Sides

• John Elkann’s lawyers:
  They insist the 1998 note carries no legal standing, emphasizing that it was used in a criminal case already dismissed.
• Margherita Agnelli’s defense:
  She argues that a quarter of Dicembre’s shares should rightfully pass to her and her heirs, thereby increasing her family’s influence over Ferrari and Stellantis.

---

Why It Matters

Ferrari and Stellantis are the crown jewels of Exor, the Agnelli family’s investment empire. Any alteration in the shareholding balance could reshape leadership in two of the most influential carmakers in the world.

This legal showdown is not only about family inheritance—it’s about control of brands that define the global auto industry.