Umberto Agnelli

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. Markets

    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.
  2. Trading

    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.
  3. 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.
  4. Markets

    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.
  5. Markets

    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.
  6. Markets

    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.
  7. Managing Wealth

    Life Insurance With an Increasing Death Benefit

    Why buy a life insurance policy with an increasing rather than level death benefit
  8. Personal Finance

    The Best Sports Car for Investors (FCAU, VLKAY)

    Ferrari, perhaps the best known sports car brand in the world, filed to IPO this week, issuing common shares to investors for the first time.
  9. Markets

    Italy Economics: 4 Troubling Similarities to Greece

    Learn about the similarities and differences between the economic woes of Italy and Greece, and get some statistics and economic analyses.
  10. ETFs & Mutual Funds

    The Top 3 ETFs For Investing in Italy

    Find out about some of the exchange-traded funds that investors can utilize when they want to obtain exposure to the Italian equities market.
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. Frexit

    Frexit – short for "French exit" – is a French spinoff of the term Brexit, which emerged when the United Kingdom voted to ...
  2. AAA

    The highest possible rating assigned to the bonds of an issuer by credit rating agencies. An issuer that is rated AAA has ...
  3. GBP

    The abbreviation for the British pound sterling, the official currency of the United Kingdom, the British Overseas Territories ...
  4. Diversification

    A risk management technique that mixes a wide variety of investments within a portfolio. The rationale behind this technique ...
  5. European Union - EU

    A group of European countries that participates in the world economy as one economic unit and operates under one official ...
  6. Sell-Off

    The rapid selling of securities, such as stocks, bonds and commodities. The increase in supply leads to a decline in the ...
Trading Center