Maurizio Gucci was an Italian businessman and former head of the Gucci design firm. He died on March 27, 1995. He was the grandson of the company’s founder, Guccio Gucci, and the son of actor Rodolfo Gucci. On March 27, 1995, he was murdered by a contract killer hired by his ex-wife Patrizia Reggiani.
Early Life And Career
Maurizio Gucci was born on September 26, 1948, in Florence to actresses Rodolfo Gucci and Sandra Ravel. He was their only child. In 1972, Gucci traveled to New York City to work alongside his uncle Aldo Gucci for the Gucci company.
His father gifted him a magnificent apartment in the Olympic Tower at the beginning of the 1980s. After his father’s death, he returned to Milan in 1982 and, in 1983, initiated a court struggle against Aldo for control of Gucci, has become the main shareholder.
Gucci went to Switzerland in 1986 to avoid prosecution after Aldo accused him of faking his father’s signature to evade inheritance taxes. Initially found guilty, he was eventually exonerated. In 1988, Investcorp, a Bahrain-based investment fund, acquired 47.8% of Gucci.
In 1989, Maurizio Gucci was appointed chairman of the Gucci group. From 1991 to 1993, Gucci’s financial position was negative. Maurizio Gucci was accused of spending extravagantly on the company’s Florence and Milan headquarters.
In 1993, he sold his remaining firm shares to Investcorp for $170 million, terminating the Gucci family’s affiliation with the company.
What Happened With Gucci?
Gucci went to Switzerland in 1986 to avoid prosecution after Aldo accused him of faking his father’s signature to evade inheritance taxes. Initially found guilty, he was eventually exonerated. In 1988, the Bahrain-based investment group Investcorp acquired 47.8 percent of Gucci.
Why Did Gucci Suddenly Fail?
After Guccio’s death in 1953, he left his three biological sons, Vasco, Rodolfo, and Aldo, stakes of the business. The escalating sibling disputes between the brothers, which lasted into the following generation, contributed to the demise of the Gucci family in the fashion industry.
On March 27, 1995, a hired hitman opened fire on Gucci as he was entering his workplace. Gucci was shot while standing on the steps outside of his building. In 1998, his ex-wife Patrizia Reggiani was found guilty of orchestrating the murder and sentenced to life in prison.
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Prosecutors claim that Reggiani’s actions were motivated by a combination of envy, a desire for financial gain, and animosity toward her ex-husband. She was freed from prison in October 2016, after having served a sentence of eighteen years.
Maurizio Gucci Net Worth at Death
At the time of his death, Maurizio Gucci was reported to have a net worth of approximately $400 million USD.