Flavio Briatore is a well known Italian business man. Flavio Briatore Net Worth is $150 million. Briatore earned the majority of his net worth being the manager of the Benetton Formula One racing team. In 2000, Renault bought the Benetton Formula One racing team, but it continued to compete as Benetton for the 2001 racing season. However, in 2002, the team became Renault F1. In 1988, Briatore attended his first Formula One race at the Australian Grand Prix, which would have a lasting, profound effect on him. He would soon become the managing director of the Formula One team, Benetton Formula Ltd., for the Benetton family who founded the worldwide Benetton clothing chain.
Flavio Briatore Net Worth - $150 Million
Birth Name - Flavio Briatore
Date of birth - 12 April 1950
Zodiac Sign - Aries
Birth Place - Verzuolo, Italy
Nationality - Italian
Height - 6' 2"
Profession - Actor, Businessperson
While Briatore lived in Milan, he worked for Finanziaria Generale Italia at the Italian stock exchange. It would be during this time that he met Luciano Benetton, founder of the worldwide Benetton clothing corporation. He became friends with Benetton and he started working for him. Briatore set up a number of successful Benetton franchises in the Virgin Islands. When Benetton opened his first five stores in the United States in 1979, he made Briatore the director of the group's American operations. The Benetton clothes company became a huge franchise, and at one point, there were 800 Benetton stores in the United States. Briatore, having taken a percentage of each franchising agreement, became very wealthy.
After the success of expanding the Benetton clothing franchise into the US, the Benettons ventured into Formula One racing. They paid a few hundred thousand dollars in 1985, to buy an English racing team that was finishing almost last in the circuit. Benetton asked Briatore, who knew nothing about the sport, became the marketing director. In 1990, Briatore was promoted by Luciano Benetton to manager of the Benetton Formula One racing team. What Briatore understood was that the Formula One could be used to promote the fashion brand, and that was what he intended to do.
Briatore hired an experienced, successful driver, who was accomplishing nothing in the circuit charts, and Briatore paid him based on performance, which was unheard of in the racing industry. He hired several fashion models and he used them to set up his own ad campaign. Fashion magazines began to cover the races, making the sport of Formula One racing into that of a trendy, stylish past time. That helped Briatore sell sponsorships to tobacco companies and other companies, which covered all but $5 million of the $55 million yearly operating costs. The enterprise really flourished after Briatore decided to replace his old driver, with a new driver named Michael Schumacher, who was a young rising star. In 1994, Schumacher won the Formula One racing championship, which was the first of seven wins by a Briatore team.
Briatore was so successful managing the Formula One racing team, that he began making a few relatively small investments in nightclubs, restaurants, and also, a pharmaceutical company. The pharmaceutical company began as an old manufacturing plant producing anesthetics and it grew into a $62 million stake becoming the well known and successful Italian pharmaceutical company, Pierrel. In the late 1990s, Briatore discovered a parcel of real estate overlooking the Mediterranean Ocean. He bought the real estate for $1 million and built the Billionaire Club. He invested $5 million more to expand the club's square footage up to 25,000 square feet, and that included a swimming pool, a grill and a restaurant. Over half of the Billionaire Club’s $7 million in yearly revenue comes in during three peak weeks in midsummer, and Briatore earns an after tax profit of $700,000 from that one time period during midsummer plus what he earns for the rest of the year.
Besides being in the fashion business with Benetton, he decided to go into another fashion venture. Briatore and Italian designer Angelo Galasso, decided that the fashion world needed another men’s line; a men's line that combined a classical look with some additional and expensive elegance. The two men created Billionaire Couture, a men's clothing line that only extremely wealthy men can afford. They proceeded to open a store in London at Harrods Department Store and another store near Briatore’s home in Chelsea. Galasso says the two stores have a combined revenue of $4.5 million per year. Flavio Briatore Net Worth is $150 million and it's sizable due to his innate ability to recognize excellent ventures and investments.