Sergio Mantegazza

About Sergio Mantegazza

Birth Year: 1926
Birth Place: Lugano, Switzerland, Switzerland
Residence: Lugano, Switzerland
Education: Gademann Business School and Istituto Elvetico
Occupation: Chairman and owner, Globus
Children: Paolo Mantegazza (died 2004) Fabio Mantegazza Maria Dolores Mantegazza
Parent(s): Antonio Mantegazza Angelina Mantegazza

Sergio Mantegazza Net Worth

Sergio Mantegazza was bornon 1926 in Lugano, Switzerland, Switzerland. Vacation king Sergio Mantegazza has built a tour and travel empire from Globus, the company his father Antonio founded in 1928 with a single gondola that ferried tourists around Lake Lugano. Today, the travel group includes European river cruises and guided tours in the U. S., the UK, Canada, Australia, and South Africa. Mantegazza also owns a significant stake in his family's collection of residential and commercial Lugano real estate and a substantial portfolio of low-risk bonds. In 2014, he sold his flagging Monarch Airlines to Greybull Capital for £75 million. On his "Lady Marina" yacht, Mantegazza has played host to high profile guests that reportedly have included Tina Turner.
Sergio Mantegazza is a member of Service

💰 Net worth: $2.8 Billion (Updated at 22 June 2018)

2009 $2.6 Billion
2010 $2.8 Billion
2011 $2.9 Billion
2012 $2.3 Billion
2013 $3 Billion
2014 $4.7 Billion
2015 $2.9 Billion
2016 $2.7 Billion
2017 $3.1 Billion
2018 $2.88 Billion

Awards and nominations:

Mantegazza joined the British Travel Industry Hall of Fame in 2006 alongside Sir Richard Branson, Sir Rocco Forte and Stephen Kaufer.

Cosmos (formerly Cosmos Holidays) was shortlisted for the * including the Globe Travel Awards, the TTG Travel Awards, British Travel Awards as well as World of Cruising's Wave Awards, and Cruise International's Cruise Awards.

Biography/Timeline

1927

Sergio Mantegazza was born in Lugano, Switzerland, to Antonio and Angelina Mantegazza in 1927. He has a brother, Geo Mantegazza. He was educated at Istituto Elvetico. and Gademann Business School.

1928

As a young man, Mantegazza developed further Business and entrepreneurial skills by working in the family Business after leaving education. Founded by his Father Antonio in 1928, Globus Viaggi initially started with a single gondola ferrying tourists and goods across and around Lake Lugano, Switzerland. Antonio Mantegazza went on to acquire a fleet of 12 coaches to transport tourists around the area. By 1950, the company operated 33 coaches with the addition of overnight excursions to Rome, Venice and the French Riviera.

1955

His other son, Fabio Mantegazza (born 1955), was working with Sergio in the United Kingdom, and was CEO and chairman of Monarch Travel Group Ltd.

1956

His daughter, Maria Dolores Mantegazza (born 1956), serves as a trustee to the Sergio Mantegazza Charitable Foundation in Canton Ticino alongside Fabio Mantegazza and Geo Mantegazza. The Foundation focuses on supporting various charities within the arts and youth Sports programs as well as education and medical-related areas. Mantegazza also remains active in the organisation.

1961

In 1961, the Globus group launched Cosmos Holidays in the United Kingdom and air holiday packages to southern Europe. This led to other destinations like Canada, Australia and New Zealand.

1975

Mantegazza took over as President of Globus in 1975 and expanded the travel and tour Business, introducing travel packages to Africa, Australia and South America. Globus also launched its North American company Group Voyagers, overseeing US tour operations and the American market for the Globus and Cosmos brands. In 2003, Avalon Waterways and Monograms were also created, focusing on independent travel and river cruises.

1998

His son, Paolo, worked for Bankers Trust and Credit Suisse, before becoming President and CEO of Globus' US Business Group Voyagers in 1998, and killed himself in 2004, at the age of 34.

2006

Mantegazza joined the British Travel Industry Hall of Fame in 2006 alongside Sir Richard Branson, Sir Rocco Forte and Stephen Kaufer.

2014

In October 2014, it was reported that he had sold Monarch Airlines to Greybull Capital. This deal involved the company's pension scheme transferring into the statutory Pension Protection Fund (PPF), causing 70 Monarch pilot's pension benefits to be affected by the PPF compensation cap. The Pension Regulator's subsequent statutory report later concluded that the majority of scheme members received 90% or more of their benefits. However, the deal was nonetheless criticised by The Guardian, which stated that the pilots' retirement plans had been "wrecked", and as stated by Frank Field MP, Chairman of the Work and Pensions Select Committee, in a letter to the Pension Protection Fund - "Compared to the hundreds of millions pounds of debt they were being released from, the [pension] deal was a good one for the Mantegazzas only." Alan Rubenstein, chief executive of the Pension Protection Fund, gave a response to Mr Field, saying the deal reached over the pension scheme was better than no deal at all. "Given that the recover to the Monarch scheme in the event of insolvency would have been zero, we and ultimately our levy payers are £30m better off as a result of the upfront cash payments we negotiated."