DEFINITION of 'Umberto Agnelli'

A former chairman and CEO of Italian automaker Fiat and formerly one of the wealthiest men in Italy. Fiat, which stands for "Fabbrica Italiana Automobili Torino," means Italian Automobile Factory of Turin. The company, founded in 1899, had long been the Agnellis' family business, and Umberto Agnelli's death, which came shortly after his older brother Gianni's death, marked the first time the company's board did not have a senior Agnelli among its members.

BREAKING DOWN 'Umberto Agnelli'

During Agnelli's short term as chairman (a post he only attained in 2003, the year before his death) he began to turn the then-failing company around. Fiat is the largest automobile manufacturer in Italy and one of the largest in the world, with about half of the company's operations located abroad. Agnelli was born in 1934 and died in 2004 at age 69.

RELATED TERMS
  1. John Elkann

    The chairman of Italian automaker Fiat. As a member of the powerful ...
  2. Giuseppe Morchio

    An Italian executive who became CEO of Italian automaker Fiat ...
  3. Fiat Money

    Currency that a government has declared to be legal tender, but ...
  4. Herbert Demel

    A CEO who has served in numerous high-level executive positions, ...
  5. Death Master File (DMF)

    Also known as Social Security Death Index. A list of people whose ...
  6. Lawful Money

    Any form of currency issued by the United States Treasury and ...
Related Articles
  1. Investing

    Now, Get Paid To Hack Fiat Chrysler Automobile Systems (FCAU)

    Amid increasing security threats, Fiat joins the list of firms offering cash bounty for reporting security issues.
  2. Investing

    What is Fiat Money?

    Fiat money is currency that a government has declared to be legal tender, but is not backed by a physical commodity.
  3. Investing

    U.S. Probe sFiat Chrysler for Sales Fraud (FCAU)

    The U.S. Justice Department and the SEC are probing Fiat Chrysler on claims that it used financial incentives to reward dealers for falsified car sales data.
  4. Investing

    Why Spain's Sovereign Debt Is Outshining Italy's

    Spanish 10-year government bonds have been trading at a lower yield than Italy, which has significantly larger economy
  5. Investing

    Will Nonperforming Loans Cause 'Italeave'?

    The EU's reluctance to allow Italy to bail out its precarious banks may encourage Italy to follow England out of the EU.
  6. Investing

    The Gold Standard Versus Fiat Currency

    What do "gold standard" and "fiat system" mean for currencies and economies? Investopedia explores the history of the gold standard and the rise of fiat.
  7. Retirement

    How Much Money Do You Need to Retire in Italy?

    A favorable exchange rate is just one reason Italy makes the list of possible retirement destinations for Americans.
  8. Insights

    Global Economics: Is Italy the Next Greece?

    Find out whether or not the Italian economy is poised to become the next Greece, and why much depends on the political will of Italy's leaders.
  9. Personal Finance

    Shares of Italian Banks Jump on Bailout Hopes

    On Monday, shares of Italian Banks surged on hopes that the government and top executives will agree on a bailout package for the struggling financial sector.
  10. Insights

    3 Economic Challenges Italy Faces in 2016

    Learn how Italy's economic problems are ingrained and systemic. Unless Italy implements drastic economic fixes, 2016 will be another year of struggle.
RELATED FAQS
  1. Is fiat money more prone to inflation than commodity money?

    Learn more about commodity and fiat money and some of the differences between them. Find out when the U.S. abolished the ... Read Answer >>
  2. Is all paper money fiat money?

    Learn how the United States has converted from a gold-backed money system to a fiat one. Learn what is considered fiat money ... Read Answer >>
  3. What is the difference between fiat money and representative money?

    Learn the main differences between fiat money and representative money. Differences include actual physical currency and ... Read Answer >>
  4. Is credit a form of fiat money?

    Discover what fiat money is, learn how it developed historically into its use in most modern economies, and explore its relationship ... Read Answer >>
  5. What is the difference between fiat money and legal tender?

    Learn more about fiat currency and legal tender. Find out how these terms are used by economists to describe different types ... Read Answer >>
Hot Definitions
  1. Magna Cum Laude

    An academic level of distinction used by educational institutions to signify an academic degree which was received "with ...
  2. Cover Letter

    A written document submitted with a job application explaining the applicant's credentials and interest in the open position. ...
  3. 403(b) Plan

    A retirement plan for certain employees of public schools, tax-exempt organizations and certain ministers. Generally, retirement ...
  4. Master Of Business Administration - MBA

    A graduate degree achieved at a university or college that provides theoretical and practical training to help graduates ...
  5. Liquidity Event

    An event that allows initial investors in a company to cash out some or all of their ownership shares and is considered an ...
  6. Job Market

    A market in which employers search for employees and employees search for jobs. The job market is not a physical place as ...
Trading Center