Marina Berlusconi continues to attract Media Attention

| Wed, 10/12/2005 - 03:32

Marina Berlusconi, Italian Premier Silvio Berlusconi's eldest daughter, continues to draw international press attention nearly a week after she was named president of the family's media empire.

A feature in French daily Le Monde on Monday followed similar articles by The Financial Times Deutschland and AFP, the latter of which set the tone with a piece entitled: 'The Most Powerful Woman In Italy'.

Marina Berlusconi, 39, was appointed to head the family's holding company Fininvest on October 4, following the death of the group's former president Aldo Bonomo. "Already considered one of the most powerful women in the world, Maria Elvira Berlusconi, known as Marina, is set to move further up the annual classification of Forbes and Fortune magazines," wrote the French daily.

"A determined manager, she is both feared and respected. Even a close family friend, (journalist) Emilio Fede [...] recently confessed: 'I would never go to her to ask her for a raise.'"

Berlusconi's appointment came as no surprise.

She served as Bonomo's deputy for more than nine years and had been tipped as his replacement by inside sources following his death on August 31. Her new position puts her in charge of a vast business empire, encompassing advertising, movie distribution, television, books, magazines, directory enquiries, insurance and pensions.

Fininvest, which also owns the AC Milan soccer club, is one of Italy's largest enterprises, valued at around 17 billion euros and generating some five billion euros annually.

Fininvest's new president entered the group at the age of 25. Although she had spent summers interning at its various subsidiaries since the age of 15, she was only introduced to the daily running of the business in her late 20s, after dropping out of a degree in politics and international relations.

She has chaired Fininvest's publishing company Mondadori, Italy's largest publisher, since 2003.

Last year, the premier's eldest offspring was ranked at number 9 on Fortune magazine's list of the 50 most influential women executives outside the US. She was the only Italian on the list.

Forbes, meanwhile, named her as the 74th most powerful woman in the world, estimating her to be worth four billion dollars.

Her rise to the top has not been hampered by the fact that she and her 36-year-old brother Piersilvio are among several members of Fininvest being probed by Milan prosecutors for possible money laundering.

They are under investigation in connection with a probe into alleged tax fraud involving Mediaset's purchase of TV rights for US films in 1994-1996.

They deny all wrongdoing.

Berlusconi's role in her father's business - combined with the fact that Piersilvio and their 20-year-old step-sister Barbara also sit on the board - has led critics to suggest that the premier continues to influence the day-to-day running of Fininvest.

Despite snide suggestions that her position is solely due to her father's powers, Marina's ascent to the top could be considered no small feat in Italy. Discussing her appointment in an article published last week, The Financial Times Deutschland pointed out that her brother had also been "in line to take over the reins".

"In Italy, where women usually 'sit in the second row', this is a huge leap forward," it wrote. "And her triumph cannot just be attributed to her father." A feature in the Paris Match magazine made a similar point.

"While everyone in male-dominated Italy predicted that Marina's brother Piersilvio would be his father's heir [...], the premier instead made his first-born the family 'strong man'".

The Fininvest president has also confounded expectations regarding her personal life. She has two children with a former ballet dancer, Maurizio Vanadia. Although the pair are long-time companions, they are not married, a somewhat unusual domestic set-up for public figures in Catholic Italy.

Unlike her father, Marina is traditionally press-shy. She has made it clear she has no interest in entering politics and that her heart lies with business.

(ANSA)