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Stellantis and Ferrari boss is pitted against his own mother in Agnelli inheritance drama

  MILAN, Italy — A court in Turin is set to rule in the coming weeks on an inheritance dispute dividing the Agnelli family, the founders of the Fiat car company and arguably the best known of Italy's business dynasties. The case stems from the estate of Gianni Agnelli, the celebrated Fiat boss who was a symbol of Italy's post-war economic boom and who died two decades ago. It pits Agnelli's daughter Margherita, who inherited 1.2 billion euros ($1.3 billion), against three of her eight children including her eldest, John Elkann, the chairman of Ferrari and carmaker Stellantis. In the dispute that has riven one of Italy's elite families, Margherita is fighting to overturn agreements she signed after her father's death in order to eventually benefit her five children from a second marriage, sources close to her say. Should the Turin court decide in her favor, Margherita, who is 67 and Gianni Agnelli's only surviving child, could stake a claim to half of her late mother's estate and a share in the Elkann family business. The center of the dispute The dispute has its origins in an inheritance deal known as the "Geneva pacts" that Margherita, an artist and philanthropist, signed in 2004 after the death of her father the previous year and agreed to when Fiat was on the brink of bankruptcy. Under the first pact, Margherita received property, works of art and other liquid assets from Gianni's estate and renounced any future influence in the Dicembre (December) company, a key part of the ownership structure of Exor, the Agnelli-family holding. The pacts cemented John Elkann's position as Gianni Agnelli's chosen successor and effectively took his mother Margherita out of the equation. John Elkann, 47, now leads Exor, which owns slices of prestigious businesses and brands including national newspapers and the soccer club Juventus. The second pact covered what would happen to the estate of Margherita's mother Marella, who died in 2019 aged 91. Marella passed her Dicembre stake to three of her grandchildren, John, his brother Lapo and sister Ginevra, from Margherita's first marriage to journalist Alain Elkann. Margherita wants the pacts to be rescinded to be able to give her children with second husband Serge De Pahlen, a Franco-Russian former Fiat executive, a share of their grandmother's estate, sources close to her say.

Museo Ferrari launches 'Michael 50' exhibit honoring Schumacher

Michael Schumacher turned 50 years old on Thursday, January 3, 2019. To celebrate the racing legend and to show appreciation for all he has done for the brand, Museo Ferrari opened an exhibition that explores his impact and accomplishments throughout his personal life and racing career. Named " Michael 50," the exhibit is now open in Maranello. This is the third showcase to open in recent months, following the announcement of "Driven by Enzo" and "Passion and Legend," which opened in September 2018 to honor the 120th anniversary of the founder of Ferrari. The Prancing Horse company calls Schumacher "The Most Successful Ferrarista in History," and the exhibition focuses on his many victories. The driver raced his way to seven world titles, 91 first-place finishes, and 155 podiums. Ferrari is displaying many of the cars Schumacher raced in, including the 1996 F310, the 1999 F399, the F1-2000, F2002, F2004, and the 2006 248 F1. In addition to race cars, the display also highlights some of the road cars that Schumacher worked on as a developer after he left Formula One. Using his knowledge and experience, he helped shape the dynamics of the 2007 430 Scuderia and the 2008 California. "Michael 50" was created with the help of the Keep Fighting Foundation, which recently launched an app that has a virtual museum and celebrates Michael and his legacy. According to a recent report, Schumacher is currently "in the very best of hands" and continues to battle back from his injuries. Ferrari did not give a specific time period for the exhibition, but mentioned it will be open for a "few months." Fans can buy tickets here.Related Video:

Lewis Hamilton cruises to victory at the Singapore Grand Prix

SINGAPORE (Reuters) - Britain's Lewis Hamilton eased to victory from pole position at the Singapore Grand Prix on Sunday as the Mercedes driver extended his championship lead over Ferrari's Sebastian Vettel to 40 points with six rounds remaining. Hamilton held off a mid-race challenge from Red Bull's Max Verstappen to register a record-equaling fourth triumph at the floodlit Marina Bay Street Circuit track, while Vettel finished third to slip further behind in the title race. "Great job everyone, what a weekend... keep pushing, keep pushing, we've got this," Hamilton told his team over the radio soon after crossing the line at the end of the 61st lap. Hamilton's 69th overall victory was his seventh of the season and it was built on the foundations of a stunning qualifying lap on Saturday, when he stormed to pole in a car deemed inferior to the Ferraris and Red Bulls on this circuit. For Vettel and Ferrari it was another disappointing weekend after the car showed plenty of pace through all three practice sessions, the German's cause not helped by a questionable strategy and a poor pitstop. Hamilton won this race from the third row a year ago when Vettel, Verstappen and Kimi Raikkonen collided before Turn One but there was no repeat of such drama this time after the drivers got off to a clean start at the head of the field. There has, however, been a safety car period in every race in Singapore since it joined Formula One in 2008 and it was deployed on the opening lap after Sergio Perez pushed his Force India team mate Esteban Ocon into a wall after Turn Three. "Sorry guys there was no room," Perez told his team over the radio. Vettel got past Verstappen before the safety car emerged and slotted in behind Hamilton, but his race unraveled when the German pitted first on the 14th lap but got stuck in traffic and overtaken by the Dutchman when he made his stop for fresh tires. BACK MARKERS Hamilton was cruising up front but suffered a mini-crisis on the 38th lap when he got stuck in a queue of tail-enders, which allowed Verstappen to get right up behind him. The Dutchman had a look up the inside as Hamilton struggled to pass the back markers but the Briton just stayed ahead and was able to pull clear all the way to the checkered flag once he had a clear track ahead of him. "It definitely got a little bit interesting toward the end with the back markers as you could already feel the draft from the cars when you were five and six seconds behind," Hamilton added.