Armani, the two wills opened and published: details on succession and management of the estate
Wills written in his own hand between March and April 2025. The fashion designer and entrepreneur passed away on 4 September at the age of 91. He had no direct heirs, but some family members and trusted collaborators: Leo Dell'Orco, his nieces Roberta and Silvana Armani, his sister Rosanna Armani and his son Andrea Camerana
2' min read
2' min read
Giorgio Armani's wills have been opened. The designer, who had no direct heirs, left two wills in secret form, written in his own hand and placed in sealed envelopes. The first is dated 15 March and the second the following 5 April. The publication of the two documents, i.e. their opening by notary Elena Terrenghi, is on 9 September.
The Disappearance
The 91-year-old designer, died in Milan on 4 September, leaving behind a fortune estimated at around €12 billion and a group - of which he was 99.9% owner (the remaining 0.1% is owned by a foundation created in 2016) - with €2.3 billion in revenues active in the fashion, beauty, furniture and hotel sectors. After the funeral chamber - which saw around 16,000 people pay their respects to the designer -, the funeral was held on Monday 8 September in Rivalta, in the province of Piacenza, where Armani was buried in the same place as his family.
The Heritage
Armani's assets are said to be worth over €12 billion and, in addition to the company, include Olimpia Basket Milano, taken over in 2008, the Capannina in Forte dei Marmi, acquired only a few days before his death, and numerous properties including the house in via Borgonuovo in Milan where he lived, the beloved villa-dammuso in Pantelleria and the buen retiro in Broni (Pavia), as well as holiday residences in Antigua, St. Moritz, Forte dei Marmi and Saint-Tropez.
The people you trust
.Among the people who have always worked side by side with 'King Giorgio' are his right-hand man Pantaleo Dell'Orco, his nieces Silvana and Roberta Armani Armani, his sister Rosanna Armani and their son Andrea Camerana.
The Role of the Foundation
The succession - as explained in this article - was prepared in a 2016 document, then revised two years ago. According to rumours in recent months, there are six categories of shareholders (A to F plus others without voting rights), all equal in front of the dividend (only '50 per cent of net profits will be shared'). The heir shareholders will share the share capital, together with the Foundation, and appoint the new board of directors. However, some new shareholders will have three times the votes and the right to appoint the ceo. The A-partners will have 30% of the capital, the F-partners 10%, the others 15%.
