Lots of kids who like Ferraris and also money have wondered how much it would take to buy up Ferrari. Not a Ferrari, all of Ferrari. (Alright, weird kids.) The answer to that question was a mystery for almost all of Ferrari’s history. Until today, as Ferrari just closed its first day on the public markets.
After a full day of trading, shares of Ferrari NV, trading on the New York Stock Exchange under the ticker symbol of RACE, closed at $55.00 per share. If you bought up every single share of Ferrari, you’d find yourself spending around $10,390,000,000 for the privilege.
Of course, that assumes you’d be able to buy up every single share of Ferrari. But you can’t because not every share of Ferrari is for sale. As we’ve noted previously, not every share is actually being traded. In fact, only around ten percent of Ferrari’s shares have been sold to the general public by Ferrari’s majority owner, Fiat Chrysler Automobiles.
Ten percent, of the remaining 90 percent, will remain with Piero Ferrari, company founder Enzo Ferrari’s son, who is now officially a billionaire based on his Ferrari shares alone (mazel tov, Piero!). The 80 percent that’s left over after Piero gets his piece will go to FCA shareholders, the majority of whom actually belong to one family, the Elkann-Agnelli dynasty, most of whom are already billionaires already. Good for them, and also good for us, as long as we keep getting photos like this.
But Piero Ferrari and the Elkann-Agnellis probably don’t feel like selling much of their cash cow, and also their heritage.
But! Presuming you can find one of those publicly-traded shares tomorrow morning, be prepared to pay $55 for it. Or more. Or less. They’re publicly traded now, anything can happen.
Photo credit: Getty Images