Stefano Casiraghi
Encyclopedia
Stefano Casiraghi was an Italian sportsman, heir, socialite
and businessman. He was the son of Giancarlo Casiraghi and wife Fernanda Palici, and became the second husband of Princess Caroline of Monaco
.
. He had two brothers, Marco and Daniele, and one sister, Rosalba. Even as a young schoolboy, he knew he wanted to make a lot of money. He also developed an early passion for the speedboat races on Lake Como
. He was naturally charismatic and popular, but also very shy. He followed the course of his brothers by enrolling at Milan
's Bocconi University
. However, his eagerness to work in business was stronger than his wish to have a degree, and he left the university after only two years of study, to begin to work for his father and his oldest brother, Marco.
. He owned garages, used car lots, restaurants, boutiques, heliports, apartment houses, factories and souvenir shops. He had investments in North Africa
, the Middle East
, Rome
, Milan
, Paris
and New York
. His obituary
in The New York Times
described him as a financier
and said, at his death, Casiraghi was Chairman of "Cogefar France" (a construction subsidiary
of Fiat
). The same source said he had a majority interest in Engeco, a Monaco-based construction
company which he founded in 1984. At the time of his first child's birth, it was said that he was the director of the Christian Dior
boutique in Monte Carlo.
races during his lifetime. Over a 20-year career, he won a dozen of those competitions and, at the time of his death, was the world champion of offshore speedboat racing, including the World Championship held off the coast of Atlantic City in 1989. Casiraghi had set the record (since broken) for 172 mph on Lake Como
in 1984. It is a very dangerous sport, but as Casiraghi once said, "There are more dangerous sports and I believe one should live life to the fullest."
, he and Princess Caroline married in a civil ceremony in the Hall of Mirrors of the Monegasque royal palace. They were not able to have a religious ceremony because Caroline was still married to Philippe Junot in the eyes of the Catholic Church. However, as Caroline was over three months pregnant, the couple did not want to wait any longer.
Her father, Prince Rainier
was by all accounts initially suspicious of his new son-in-law as were many others. The Italian papers called Casiraghi "Carolino" and portrayed him as a mere plaything for his wife, but he surprised everyone by becoming a very powerful man in Monaco in a very short time. By the time of his death, he had emerged from the shadow of Prince Rainier's suspicion and become highly valued by his father-in-law for his business sense and discretion.
The couple had three children:
The children are, respectively, second, fourth and third in the line of succession to the Monegasque throne
, after their mother, HRH the Princess of Hanover, Hereditary Princess of Monaco. Despite their parents' not having married in the Church as required for legitimacy under church law, they were legitimized by Pope John Paul II
in February 1993, eight months after their mother's marriage to Junot was annulled in June 1992.
accident off the coast of Monaco
near Cap Ferrat
on 3 October 1990 while defending his world offshore title. He was 30 years old and had planned to retire after this race. Only weeks earlier, he had escaped death when his boat blew up off the coast of Guernsey
.
There were three to four-foot wave conditions on the race course, which caused Casiraghi's 42-foot catamaran
, Pinot di Pinot, to flip. Traveling at plus-90 mph, it did not have a full canopy, and experts who studied the accident have said that Casiraghi would most likely have survived the accident had the boat been equipped with such a canopy. As a result of his death, safety laws became more stringent; a safety harness
and closed hull became compulsory, as was a twin hull design for boats. Races nowadays take place close to the harbor where waves are gentler, which is policed off for safety reasons as boats are no longer allowed to drive near the course.
Casiraghi's copilot, Patrice Innocenti, survived the accident. He was pulled from the water and taken to Monaco's Princess Grace Hospital, where he was treated for unspecified injuries.
The funeral Mass was held in Monaco's Cathedral of St. Nicholas exactly eight years after Princess Grace's funeral in the same place.
Stefano Casiraghi is buried in the Chapelle de la Paix in Monaco
, which is also the resting place of his wife's paternal grandfather, Prince Pierre of Monaco
.
Socialite
A socialite is a person who participates in social activities and spends a significant amount of time entertaining and being entertained at fashionable upper-class events....
and businessman. He was the son of Giancarlo Casiraghi and wife Fernanda Palici, and became the second husband of Princess Caroline of Monaco
Caroline, Princess of Hanover
Caroline, Princess of Hanover, Hereditary Princess of Monaco , formally styled Her Royal Highness The Princess of Hanover , has been heiress presumptive to the throne of Monaco since 2005, a position which she previously held from 1957 to 1958.She is the wife of...
.
Early life
The son of Giancarlo Casiraghi, a hardworking self-made wealthy businessman (reputedly descended from a family of the minor aristocracy), and his wife, Fernanda, Stefano Casiraghi grew up in Fino MornascoFino Mornasco
Fino Mornasco is a comune in the Province of Como in the Italian region Lombardy, located about northwest of Milan and about southwest of Como...
. He had two brothers, Marco and Daniele, and one sister, Rosalba. Even as a young schoolboy, he knew he wanted to make a lot of money. He also developed an early passion for the speedboat races on Lake Como
Lake Como
Lake Como is a lake of glacial origin in Lombardy, Italy. It has an area of 146 km², making it the third largest lake in Italy, after Lake Garda and Lake Maggiore...
. He was naturally charismatic and popular, but also very shy. He followed the course of his brothers by enrolling at Milan
Milan
Milan is the second-largest city in Italy and the capital city of the region of Lombardy and of the province of Milan. The city proper has a population of about 1.3 million, while its urban area, roughly coinciding with its administrative province and the bordering Province of Monza and Brianza ,...
's Bocconi University
Bocconi University
Bocconi University is a private university located in central Milan, beside Parco Ravizza. Bocconi provides undergraduate, graduate and post-graduate education, in addition to a range of double degree programs, in the fields of economics, management, finance and law. According to many university...
. However, his eagerness to work in business was stronger than his wish to have a degree, and he left the university after only two years of study, to begin to work for his father and his oldest brother, Marco.
Business
He had once described himself as "a born businessman" who was involved in all sectors of business, such as retail export, construction, and real estateReal estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
. He owned garages, used car lots, restaurants, boutiques, heliports, apartment houses, factories and souvenir shops. He had investments in North Africa
North Africa
North Africa or Northern Africa is the northernmost region of the African continent, linked by the Sahara to Sub-Saharan Africa. Geopolitically, the United Nations definition of Northern Africa includes eight countries or territories; Algeria, Egypt, Libya, Morocco, South Sudan, Sudan, Tunisia, and...
, the Middle East
Middle East
The Middle East is a region that encompasses Western Asia and Northern Africa. It is often used as a synonym for Near East, in opposition to Far East...
, Rome
Rome
Rome is the capital of Italy and the country's largest and most populated city and comune, with over 2.7 million residents in . The city is located in the central-western portion of the Italian Peninsula, on the Tiber River within the Lazio region of Italy.Rome's history spans two and a half...
, Milan
Milan
Milan is the second-largest city in Italy and the capital city of the region of Lombardy and of the province of Milan. The city proper has a population of about 1.3 million, while its urban area, roughly coinciding with its administrative province and the bordering Province of Monza and Brianza ,...
, Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
and New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
. His obituary
Obituary
An obituary is a news article that reports the recent death of a person, typically along with an account of the person's life and information about the upcoming funeral. In large cities and larger newspapers, obituaries are written only for people considered significant...
in The New York Times
The New York Times
The New York Times is an American daily newspaper founded and continuously published in New York City since 1851. The New York Times has won 106 Pulitzer Prizes, the most of any news organization...
described him as a financier
Financier
Financier is a term for a person who handles typically large sums of money, usually involving money lending, financing projects, large-scale investing, or large-scale money management. The term is French, and derives from finance or payment...
and said, at his death, Casiraghi was Chairman of "Cogefar France" (a construction subsidiary
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
of Fiat
Fiat
FIAT, an acronym for Fabbrica Italiana Automobili Torino , is an Italian automobile manufacturer, engine manufacturer, financial, and industrial group based in Turin in the Italian region of Piedmont. Fiat was founded in 1899 by a group of investors including Giovanni Agnelli...
). The same source said he had a majority interest in Engeco, a Monaco-based construction
Construction
In the fields of architecture and civil engineering, construction is a process that consists of the building or assembling of infrastructure. Far from being a single activity, large scale construction is a feat of human multitasking...
company which he founded in 1984. At the time of his first child's birth, it was said that he was the director of the Christian Dior
Christian Dior
Christian Dior , was a French fashion designer, best known as the founder of one of the world's top fashion houses, also called Christian Dior.-Life:...
boutique in Monte Carlo.
Speedboat racing
A self-styled "throttle man," Casiraghi participated in eighty offshoreOffshore powerboat racing
Offshore powerboat racing is racing by large, specially designed ocean-going powerboats, typically point-to-point racing.Probably one of the largest, most dangerous, and most powerful racing machines of all, the extreme expense of the boats and the fuel required to participate make it an expensive...
races during his lifetime. Over a 20-year career, he won a dozen of those competitions and, at the time of his death, was the world champion of offshore speedboat racing, including the World Championship held off the coast of Atlantic City in 1989. Casiraghi had set the record (since broken) for 172 mph on Lake Como
Lake Como
Lake Como is a lake of glacial origin in Lombardy, Italy. It has an area of 146 km², making it the third largest lake in Italy, after Lake Garda and Lake Maggiore...
in 1984. It is a very dangerous sport, but as Casiraghi once said, "There are more dangerous sports and I believe one should live life to the fullest."
Marriage and family
On 29 December 1983 in MonacoMonaco
Monaco , officially the Principality of Monaco , is a sovereign city state on the French Riviera. It is bordered on three sides by its neighbour, France, and its centre is about from Italy. Its area is with a population of 35,986 as of 2011 and is the most densely populated country in the...
, he and Princess Caroline married in a civil ceremony in the Hall of Mirrors of the Monegasque royal palace. They were not able to have a religious ceremony because Caroline was still married to Philippe Junot in the eyes of the Catholic Church. However, as Caroline was over three months pregnant, the couple did not want to wait any longer.
Her father, Prince Rainier
Rainier III, Prince of Monaco
Rainier III, Prince of Monaco , styled His Serene Highness The Sovereign Prince of Monaco, ruled the Principality of Monaco for almost 56 years, making him one of the longest ruling monarchs of the 20th century.Though he was best known outside of Europe for having married American...
was by all accounts initially suspicious of his new son-in-law as were many others. The Italian papers called Casiraghi "Carolino" and portrayed him as a mere plaything for his wife, but he surprised everyone by becoming a very powerful man in Monaco in a very short time. By the time of his death, he had emerged from the shadow of Prince Rainier's suspicion and become highly valued by his father-in-law for his business sense and discretion.
The couple had three children:
- Andrea CasiraghiAndrea CasiraghiAndrea Albert Pierre Casiraghi is the first of three children born to Caroline, Princess of Hanover, and her second husband, Stefano Casiraghi, an heir to an Italian oil fortune. His maternal grandparents were Rainier III, Prince of Monaco and Princess Grace...
, born 8 June 1984. - Charlotte CasiraghiCharlotte CasiraghiCharlotte Marie Pomeline Casiraghi is the second child of Caroline, Princess of Hanover, Hereditary Princess of Monaco, and the late Stefano Casiraghi, an Italian industrialist. She is fourth in line to the throne of Monaco...
, born 3 August 1986. - Pierre CasiraghiPierre CasiraghiPierre Rainier Stefano Casiraghi is the younger son of Caroline, Princess of Hanover, and her second husband, Stefano Casiraghi....
, born 5 September 1987.
The children are, respectively, second, fourth and third in the line of succession to the Monegasque throne
Line of succession to the Monegasque Throne
The line of succession to the Monegasque throne passes to the descendants of the reigning Prince of Monaco in accordance with male-preference primogeniture...
, after their mother, HRH the Princess of Hanover, Hereditary Princess of Monaco. Despite their parents' not having married in the Church as required for legitimacy under church law, they were legitimized by Pope John Paul II
Pope John Paul II
Blessed Pope John Paul II , born Karol Józef Wojtyła , reigned as Pope of the Catholic Church and Sovereign of Vatican City from 16 October 1978 until his death on 2 April 2005, at of age. His was the second-longest documented pontificate, which lasted ; only Pope Pius IX ...
in February 1993, eight months after their mother's marriage to Junot was annulled in June 1992.
Death
Casiraghi was killed in an offshore powerboat racingOffshore powerboat racing
Offshore powerboat racing is racing by large, specially designed ocean-going powerboats, typically point-to-point racing.Probably one of the largest, most dangerous, and most powerful racing machines of all, the extreme expense of the boats and the fuel required to participate make it an expensive...
accident off the coast of Monaco
Monaco
Monaco , officially the Principality of Monaco , is a sovereign city state on the French Riviera. It is bordered on three sides by its neighbour, France, and its centre is about from Italy. Its area is with a population of 35,986 as of 2011 and is the most densely populated country in the...
near Cap Ferrat
Cap Ferrat
Cap Ferrat is situated in Alpes-Maritimes département, in southeastern France. It is located in the commune of Saint-Jean-Cap-Ferrat.Saint Hospitius lived here as a recluse during the sixth century...
on 3 October 1990 while defending his world offshore title. He was 30 years old and had planned to retire after this race. Only weeks earlier, he had escaped death when his boat blew up off the coast of Guernsey
Guernsey
Guernsey, officially the Bailiwick of Guernsey is a British Crown dependency in the English Channel off the coast of Normandy.The Bailiwick, as a governing entity, embraces not only all 10 parishes on the Island of Guernsey, but also the islands of Herm, Jethou, Burhou, and Lihou and their islet...
.
There were three to four-foot wave conditions on the race course, which caused Casiraghi's 42-foot catamaran
Catamaran
A catamaran is a type of multihulled boat or ship consisting of two hulls, or vakas, joined by some structure, the most basic being a frame, formed of akas...
, Pinot di Pinot, to flip. Traveling at plus-90 mph, it did not have a full canopy, and experts who studied the accident have said that Casiraghi would most likely have survived the accident had the boat been equipped with such a canopy. As a result of his death, safety laws became more stringent; a safety harness
Safety harness
A safety harness is a form of protective equipment designed to protect a person, animal, or object from injury or damage. The harness is an attachment between a stationary and non-stationary object and is usually fabricated from rope, cable or webbing and locking hardware...
and closed hull became compulsory, as was a twin hull design for boats. Races nowadays take place close to the harbor where waves are gentler, which is policed off for safety reasons as boats are no longer allowed to drive near the course.
Casiraghi's copilot, Patrice Innocenti, survived the accident. He was pulled from the water and taken to Monaco's Princess Grace Hospital, where he was treated for unspecified injuries.
The funeral Mass was held in Monaco's Cathedral of St. Nicholas exactly eight years after Princess Grace's funeral in the same place.
Stefano Casiraghi is buried in the Chapelle de la Paix in Monaco
Monaco
Monaco , officially the Principality of Monaco , is a sovereign city state on the French Riviera. It is bordered on three sides by its neighbour, France, and its centre is about from Italy. Its area is with a population of 35,986 as of 2011 and is the most densely populated country in the...
, which is also the resting place of his wife's paternal grandfather, Prince Pierre of Monaco
Pierre de Polignac
Prince Pierre of Monaco, Duke of Valentinois was the father of Rainier III of Monaco, and thus the paternal grandfather of Albert II of Monaco...
.