Here's how an Italian entrepreneur built a $1.6 billion fortune investing in energy companies
, 85, has quietly amassed an estimated $1.6 billion fortune through shrewd investments in the Italian energy sector. Though he found his first pot of gold in ceramics, the bulk of his current wealth lies in his shareholdings of Snam and Italgas, two natural gas companies that trade on the Milan stock exchange.
The business flourished as the Italian economy continued its post-war boom through the 1970s and 80s, reaping the benefits of its location at the heart of Italy’s ceramics industry. The firm, which now hauls in more than $550 million in annual revenue from bathroom tiles and wall slabs, also has subsidiaries in the United States, Mexico, Spain and Portugal.. “In finance you have to be detached, but ceramics is a heavy industry. You have to put your heart into it.
His ceramics success enabled Minozzi to focus his attention on the stock market at the turn of the millennium, including
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