With a net worth that Forbes estimates at around $2 billion, he is one of the most well-known financial figures in the United States. Yet, when the small town of Solignano (Parma) is mentioned, Mario Gabelli’s eyes still light up.
This is where his parents set off from to chase the American dream that led thousands of people to board ships and cross the ocean.
“The Val di Taro is a land to which I have a very strong emotional bond,” Gabelli said a few months ago during the Dinner and Dance organized by the Valtarese Foundation, an annual event in New York. “Before COVID, I used to go back often. I would visit the local businesses and return to the houses where my roots are. It’s a connection that has never been broken, and one I cherish deeply.”
Gabelli’s U.S. career of success began in 1976 with the founding of “Gabelli & Co.” (later becoming GAMCO Investors), a company specializing in financial brokerage. Fifty years later, he grabbed headlines in Italy for his interest in acquiring Monza, the soccer team that has been in Serie A since 2018, owned by the Berlusconi family.
The idea of buying the club from Brianza came up a few months ago, but in recent weeks, talks with Fininvest have intensified. Gabelli’s goal seems to be to first enter the club and eventually acquire a larger stake. He may be looking to follow in the footsteps of other American tycoons who have invested in Italian soccer, like the Krause family in Parma, Commisso in Florence, and the Friedkin family in Rome.
What’s certain is that at 82, Gabelli’s desire to expand and diversify his portfolio hasn’t waned. This is a typical trait of self-made businessmen, and Gabelli, in particular, has connections with some of the biggest names in global finance. After all, GAMCO, in which Gabelli owns over 70% and which managed $31 billion in assets in 2023, is one of the most respected and reputable names in the field.
Those who know him describe Gabelli as a man of substance, sometimes brusque, but always capable of earning the trust of major partners. The volume of numbers and data he analyzes daily makes him one of the most informed managers in the industry. With the same meticulousness, he continues to personally select the men and women who work for him.
Much of GAMCO’s success is undoubtedly due to Gabelli’s courage and business acumen, honed through his academic journey, which includes an MBA from Columbia University and a magna cum laude degree from Fordham University in New York. Even 60 years after his graduation, Gabelli remains a prominent figure at Fordham.
In 2010, together with his wife, Regina M. Pitaro, he contributed significantly to the university’s reorganization through a large donation, also funding a PhD program starting in 2016. Fordham appreciated these contributions so much that they renamed their business school after him: the Gabelli School of Business.
After so many years of dealing with numbers and stock market sessions, is it now time for Gabelli to enter the world of soccer? The Berlusconi family is looking for a partner “to help further develop the club,” according to sources from Monza. Gabelli might just be the perfect fit.
