Paolo died in poverty in London in 1995, having burned his way through the $42 million dollars he received for his Gucci shares.
In 1987, Paolo sold all his shares in Gucci to Investcorp for $42.5 million. Due to spending extravagant amounts of money and bad business decisions, he filed for bankruptcy in 1993.
Paolo died in 1995 at age 64 from chronic hepatitis. The same year, Maurizio was shot dead in Milan. The plot thickens: Maurizio's ex-wife was convicted of arranging the murder in 1998.
Paolo had big plans to exploit Gucci with designs of lamps, sunglasses, furniture, sleepwear, bedding accessories, lingerie and flatware. In 1980, he stopped working for the family business, and in 1987, he sold all his remaining shares in the Gucci company for $45 million.
According to Meaww, Alessandra and Allegra Gucci are worth $400 million after the death of their father, who was worth around the same amount when he died. The daughters were given control of their father's estate after their mother was found guilty of his murder in 1997.
Following Guccio's death in 1953, shares of the business were left to his three biological sons, Vasco, Rodolfo and Aldo. Looming sibling rivalries between the brothers turned into full-on feuds that continued into the next generation, which helped lead to the downfall of the Gucci family in the fashion industry.
Paolo's personal designs, however, did not achieve widespread success during his lifetime. A legal ruling in 1988 permitted him to use his name for his brand, provided it was clear he was not affiliated with Gucci.
After she was sentenced to 29 years at the San Vittore Prison—also known as the Opera prison—in Milan for the murder of Maurizio in 1997, Patrizia asked that her conviction be overturned because a brain tumor she underwent surgery for in 1992 had impaired her and made her incapable of planning a murder.
The union would have resulted in reduced alimony to Patrizia, an outcome she could not fathom. Out of greed and rage, she ordered the hit on her ex-husband. He was murdered outside his offices on 27 March 1995. Three years later Patrizia was convicted for arranging his killing.
Paolo Gucci (Jared Leto)
His father, Aldo, had given 10% of his 50% stake in the company to his three sons, allocating 3.3% to each of them.
Gucci is owned by the French holding company Kering, which purchased an $8.8 billion stake in the iconic Italian fashion brand in 2004. Artémis, the investment firm of the Pinault family led by François Pinault, is Kering's leading shareholder and holds a majority share in the company through its parent organization.
The family was deeply divided over how to run the business, with different factions jockeying for power and control. The feud reached a boiling point in 1989 when Maurizio Gucci, the grandson of the company's founder, took over as CEO and launched a hostile takeover bid against his own family members.
Investcorp acquires nearly a 50% stake in Gucci, the rest of the shares are held by Aldo's son Roberto (about 2%) and Maurizio (about 48%).
Marco Bizzarri is CEO of Gucci since December 2014, and Alessandro Michele was creative director from January 2015 to November 23, 2022. Gucci is a subsidiary of the French luxury group Kering.
The short answer is, allegedly, no. Though the sisters were extremely close to their mother throughout childhood, over the years, their relationship has taken a turn for the worse. In a 2016 interview, Reggiani revealed that her daughters cut ties with her entirely.
In 1986, Gucci fled to Switzerland to avoid prosecution after Aldo, seeking revenge, had accused him of forging his father's signature to avoid paying inheritance taxes. He was originally found guilty, but was later acquitted. In 1988, 47.8% of Gucci was sold to the Bahrain-based investment fund Investcorp.
In January 1986, Aldo Gucci was sentenced to one year and one day in prison for tax evasion, evading $7 million in New York.
The short answer is: yes. Although how much of it will be fictionalized remains to be seen, Maurizio Gucci and Patrizia Reggiani were both real people—and Patrizia, now in her 70s, is still alive today. But the twists and turns of their relationship are nothing short of shocking.
Alessandro Michele grew up in Rome. His father was an Alitalia technician, and his mother an assistant to a movie executive. In the early 1990s, Alessandro Michele completed his studies of fashion design at the Accademia di Costume e di Moda in Rome, where he learned to design both theatrical costumes and fashion wear.
No, Patrizia Reggiani did not get any money from Gucci, as the company had already been sold to Investcorp before Reggiani's husband Maurizio Gucci was murdered. After Maurizio's death, Reggiani was arrested and charged with orchestrating the murder of her husband and she was subsequently convicted.
Alessandra and Allegra inherited both of their father's yachts, Avel and Creole.
Tom Ford, (born August 27, 1961, Austin, Texas, U.S.), American fashion designer and film director who was credited with reviving the fashion house Gucci during his tenure as creative director (1994–2004).