12-6-2023 (ROME) Silvio Berlusconi, the influential billionaire media tycoon who served as the prime minister of Italy on three occasions, has died at the age of 86. According to local media reports, Berlusconi passed away at the San Raffaele hospital in Milan. However, these reports are yet to be independently verified by CNBC.
Berlusconi had been battling various serious health issues, including a battle with Covid-19, which resulted in multiple hospitalizations starting from September 2020. Last month, he was discharged from the hospital after undergoing six weeks of treatment for a lung infection linked to chronic leukemia.
Throughout his extensive political career, Berlusconi held the position of Italian prime minister from 1994 to 1995, 2001 to 2006, and 2008 to 2011. He also served as a member of the European Parliament from 1999 to 2001 and since 2019. Currently, his Forza Italia party is a junior partner in Prime Minister Giorgia Meloni’s ruling right-wing coalition.
In addition to his political endeavors, Berlusconi engaged in various business ventures, amassing a fortune estimated at around $7 billion as of June. He held a controlling stake in Mediaset, Italy’s largest commercial broadcaster, whose shares saw a rise of over 5% on Monday morning.
During his time as prime minister, Berlusconi had promised but failed to sell his assets in the media company. He also owned the renowned Italian football club A.C. Milan from 1986 to 2017.
Berlusconi’s personal life was marked by scandal and legal battles related to tax schemes and sexual misconduct. He was once convicted, but later acquitted, of charges involving a sexual relationship with a 17-year-old nightclub dancer, Karima El-Mahroug, during his infamous “bunga bunga” parties. Initially sentenced to seven years in prison and banned from public office for life, he was ultimately cleared by Italy’s highest court two years later.
Following news of Berlusconi’s passing, policymakers took to social media to pay tribute to the former prime minister. Deputy Prime Minister Matteo Salvini referred to Berlusconi as a “great friend” and expressed gratitude for his “friendship,” “advice,” and “generosity.” Defense Minister Guido Crosetto described Berlusconi’s death as leaving a “huge void” and marking the end of an era, bidding farewell to him with the words “Goodbye Silvio.” Former Prime Minister Matteo Renzi acknowledged Berlusconi’s historical significance in the country, noting that his impact on politics, economics, sports, and television was unprecedented.
Despite his long tenure as prime minister, Berlusconi’s popularity among the Italian people was mixed. His nine-year leadership made him the third-longest serving head of government in Italy, following fascist dictators Benito Mussolini and Giovanni Giolitti. In a notable incident during his final term in 2009, Berlusconi was physically attacked at a campaign rally by a mentally ill man wielding a statuette of the Milan cathedral. The assault resulted in a broken nose, a cut lip, and the loss of two teeth for Berlusconi.
