Silvio Berlusconi was born to an Italian banker and a housewife in Milan on September 29, 1936. He was the oldest of two younger siblings and attended legal school at Milan’s Universita Staale.
He has fond memories of his childhood with them. His primary focus was on the law, but he was also an accomplished upright bassist. He was in an amateur band that did some touring on cruise ships. The other band members he selected for top government and corporate positions became influential in his later endeavors.
What Was Silvio Berlusconi’s Net Worth?
Silvio Berlusconi, an ex-Italian prime minister, and billionaire, was worth an estimated $7 billion when he passed away. Silvio Berlusconi served as prime minister of Italy for an exceptionally long time after the war.
The Spectator Index has given the following tweet:
SILVIO BERLUSCONI
– Media tycoon with assets in television and print
– Net worth of $7 billion in April, 2023.
– Served as PM of Italy in four governments from 1994 to 1995, 2001 to 2006 and 2008 to 2011.
– Owned A.C. Milan from 1986 to 2017
– Has died at age of 86 pic.twitter.com/nOkJxrMt8m
— The Spectator Index (@spectatorindex) June 12, 2023
He was notorious for being a repeat criminal and tax evader who had been caught and punished before. A.C. Milan, an Italian football club, was also owned by him from 1986 till 2017. Silvio Berlusconi passed away at 86 on June 12, 2023.
How did Silvio Berlusconi Build His Wealth?
He first worked as a builder on the massive “Milano Due” project, which involved constructing four thousand apartments to the east of Milan. After realizing a profit from his initial business venture, he invested it in the launch of another experience, Telemilano, a cable television provider.
Around the same time, he wed Carla Elvira Dall’Oglio. Over the next five years, they would start a family with two children. In 1973, Berlusconi founded a modest cable TV firm Telemilano to gain notoriety. When Berlusconi founded the TV network Mediaset in 1974, it would go on to become one of Italy’s most successful media conglomerates.
In the late 1970s, Berlusconi established the media firm Fininvest. Over the next decade, he bought up smaller stations until he controlled Italy’s commercial television market. It was a spectacular success, earning him $75,000,000 per year. His methods, however, were dubious. No one could give a clear account of how he was making money from all his different ventures or where the money he was purportedly making was going.
The disagreement has been exacerbated by a legislative decision that proclaimed the Italian public broadcaster RAI the only station eligible for a television monopoly.
For almost five years, as the legal proceedings against him progressed, Berlusconi was ordered to quit broadcasting. The decision was reversed in due time. Berlusconi diversified his business assets to include professional soccer, publishing, and advertising in addition to his media conglomerate. He purchased A.C. Milan in 1986 and sold it to a new owner in 2017.
His financial and sporting achievements as a club owner helped cement his status as a significant figure in the sports business. They also have stakes in the Italian football club A.C. Milan, the financial services firm Mediolanum, the most prominent Italian publisher Mondadori, and the film studio Medusa.
A.C. Milan
In 1986, before Berlusconi bought AC Milan, the football club didn’t exist. AC Milan was purchased from Silvio Berlusconi by a group of Chinese businessmen in 2017. The total value of the transaction, including debt, was over €740 million ($800 million). The purchase marked the end of Berlusconi’s club ownership after more than 30 years.
Yonghong Li, a little-known Chinese billionaire, headed the consortium. However, the roles of the various consortium members weren’t entirely apparent at the time of the sale. This transaction was a significant turning point in the history of Serie A, Italy’s top football league, as foreign ownership surged.
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Political Career
Berlusconi entered politics in 1993, running for prime minister with his own party, Forza Italy (Go Italy). He’s been Italy’s prime minister four times since then. He served three terms (1994–1995, 2001–2006, 2008–2011).
Berlusconi’s tenure as prime minister was the third longest in Italian history, trailing only Benito Mussolini and Giovanni Giolitti, each of whom served for nine years. During his tenure as G8 leader from 2009 to 2011, Berlusconi hosted three summits in Italy, setting a record for most conferences hosted by a single leader.
The 2013 general election was his ticket to the Senate after spending 19 years in the House of Representatives. Silvio Berlusconi made history by becoming the first prime minister with no prior experience in politics or administration.
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