Exor: Fiat Crisis to Ferrari Glory - [Business Breakdowns, EP.229]

In this episode of Business Breakdowns, Zack Fuss interviews Krishna Mohanraj about Exor, a Dutch holding company controlled by the Agnelli family, tracing its history from Fiat's founding to its current structure under John Elkann. They discuss the evolution of Exor's leadership, its simplification into a tax-efficient entity, and its major assets like Ferrari, Stellantis, CNHI, and Philips. The conversation covers Elkann's strategic influence, capital allocation policies, and the potential of Exor's private investments in luxury, healthcare, and technology, while also addressing the persistent discount to net asset value (NAV) and governance considerations. The episode concludes with lessons on decisive decision-making applicable to other investments.