News from Italy
Valentino’s Estate:
Fashion Legend Leaves Entire Fortune to a Liechtenstein Foundation
Valentino’s Estate: Fashion Legend Leaves Entire Fortune to a Liechtenstein Foundation
It has been revealed that Valentino Garavani, one of the most iconic figures in the fashion world, left his estate -valued at hundreds of millions of euros- to a foundation established in Liechtenstein. His assets include yachts, villas, works of art, and a historic castle in France.
The mystery surrounding Valentino’s inheritance has now been unveiled: the designer’s entire estate was transferred to a foundation based in Vaduz, Liechtenstein. The fortune is estimated at hundreds of millions of euros, including luxury properties, a yacht, valuable artworks, and a French château.
According to an investigation by Corriere della Sera, the sole heir of the designer, who passed away on January 19 at the age of 93, is the Valentino Garavani – Giancarlo Giammetti Foundation based in Vaduz. Valentino had no legal heirs and was therefore free to decide how to dispose of 100% of his assets.
The Assets Left to the Foundation
The Vaduz-based foundation already holds several of Valentino’s major assets, including his 30-room villa on the Appian Way in Rome, the 46-metre yacht TM Blue One, and the operational assets of his Italian foundation.
Valentino’s estate also includes the 16th-century Château de Wideville, located near Paris, which is reportedly for sale. Some estimates published after Valentino’s death put his overall fortune at around €1.5 billion.
Possible Beneficiaries: People Close to Valentino
Although the names of beneficiaries are not explicitly mentioned in the official documents, reports suggest that those who may benefit from the foundation could include Valentino’s longtime partner Vernon Bruce Hoeksema, his business partner and close friend Giancarlo Giammetti, his nephew Piero Villani, and his Brazilian friend Carlos Souza, together with members of Souza’s family.
It has also been reported that the Valentino-Giammetti Foundation, based in Rome, will henceforth operate under the umbrella of the Liechtenstein foundation.
The Swiss Notary
On March 29, 2023, Valentino deposited his will with Swiss notary Rolf Schneider in Gstaad. The document named the foundation as his sole heir — a foundation that, until now, had been known mainly through its similarly named non-profit organisation in Rome.
The will was filed in Italy on January 21, two days after Valentino’s death and two days before his funeral. Its execution began on April 15, 2026.
The Difficulties of the Fashion House
Although Valentino had sold his fashion company years earlier, and the brand was no longer under his ownership, the fashion house has recently faced challenges.
In 1998, the company was sold for approximately 500 billion Italian lire to the Hdp Group. It was later transferred to the Marzotto Group in 2002 for around €240 million. In 2007, ownership changed hands again, with a majority stake acquired by the private equity fund Permira. That same year, Valentino stepped down from his role as creative director.
The succession of owners continued over the following years. In 2021, the fashion house was acquired by Qatar-based investment fund Mayhoola for Investments, which later sold a 30% stake to Kering in 2023 for €1.7 billion.
Why Was Liechtenstein Chosen?
Liechtenstein, the country selected by Valentino, has long been recognised as one of Europe’s leading centres for wealth and foundation management.
Private foundations established in Liechtenstein allow families and high-net-worth individuals to preserve their assets under unified control, manage them professionally across generations, and plan long-term succession strategies.
For this reason, many of the world’s wealthiest families and individuals with substantial assets choose to manage their businesses or personal wealth through foundations rather than transferring them directly to individual heirs.