Political Audit: Ferrari N.V.

Audit Phase: Political (Political / Governance Forensics) Subject Entity: Ferrari N.V. (NYSE: RACE; Euronext Milan: RACE) Jurisdiction of Incorporation: Netherlands (operational headquarters: Maranello, Italy) Audit Date: June 2026 Evidence Base: Published corporate disclosures (SEC filings, Ferrari corporate website, Exor and Stellantis investor materials), NGO and campaign-group source documents, the EU Transparency Register, and trade and national press. This audit is a forensic evidence inventory only. No scoring, weighting, or interpretive conclusion is drawn here.

Corporate Communications & Public Stance

Official Position on the Israel-Palestine Conflict

No public evidence was identified of any named, dated corporate statement by Ferrari N.V. addressing the 7 October 2023 Hamas attack, the subsequent Israeli military operations in Gaza, Palestinian civilian casualties, or humanitarian access to Gaza. Ferrari’s corporate newsroom and investor disclosures, reviewed in June 2026, carry no such statement.¹

The sole reference to the conflict identified in Ferrari’s primary disclosures appears within the risk-factor section of its annual reporting. Ferrari’s risk disclosures list, among macroeconomic headwinds bearing on demand for luxury products, “the ongoing conflict between Russia and Ukraine, as well as conflicts elsewhere in the world, including the conflict between Israel and Hamas, which has led to wider conflicts in the Middle East region and has the potential to escalate further.”² This reference is framed as a business-continuity and financial-risk matter; no humanitarian framing, expression of concern for civilian populations, or indication of operational review accompanies it.²

Comparative Responsiveness - Ukraine versus Gaza

Ferrari issued a named, dated corporate response to the 2022 Russian invasion of Ukraine. On 8 March 2022, Ferrari published a corporate article announcing a donation of €1,000,000 to support Ukrainians in need, with funds channelled through the Emilia-Romagna Region in collaboration with the Red Cross and UNHCR, and additional support to the Associazione Chernobyl of Maranello, Fiorano and Formigine.³ In that announcement CEO Benedetto Vigna is quoted stating that “Ferrari stands alongside everyone in Ukraine affected by this ongoing humanitarian crisis.”³ Ferrari simultaneously suspended production of vehicles for the Russian market until further notice.³⁴

No comparable named corporate statement, cash donation, named delivery mechanism, or market-suspension measure relating to the Israel-Palestine conflict was identified in the public record. The contrast between the documented 2022 Ukraine response and the absence of any identified named corporate statement on the Israel-Palestine conflict is recorded here as a factual matter of the corporate communications record.¹³

Market Framing of Israel Operations

Ferrari’s investor disclosures describe its commercial presence using standard commercial language and group Israel within wider Europe / Middle East and Africa regional sales categories, with no geopolitical, partnership, or solidarity language toward the Israeli state identified in reviewed public-facing Ferrari disclosures.¹²

Operations in Occupied or Contested Territories

The economic and physical dimensions of Ferrari’s Israel-linked commercial footprint (authorised-dealer presence and sales) are inventoried in the Economic audit and are not reproduced here.

For the political/governance dimension specifically: Ferrari maintains an authorised dealer in Israel, Mediterranean Car Agency Ltd, operating the official Ferrari dealer site for the territory and located in Herzliya.⁵ No public evidence was identified of a distinct Ferrari corporate policy stance, governance instrument, public position, or human-rights due-diligence disclosure relating to the Occupied Palestinian Territories or to settlement activity.

No public evidence was identified of Ferrari dealership operations, service agreements, or commercial activity located specifically within internationally recognised Israeli settlements in the West Bank (Area C) or East Jerusalem.

No public evidence was identified of Ferrari political advocacy for or against settlement trade, nor of any board-level Ferrari position on the matter.

A Ferrari corporate display incident in occupied/contested territory is documented: in November 2017, during a tour marking Ferrari’s 70th anniversary, a group of approximately ten to twenty Ferrari vehicles was brought into the Western Wall plaza in Jerusalem’s Old City, drawing public criticism; the Western Wall Rabbi Shmuel Rabinovitch stated the cars were parked for a few minutes while company staff toured the site, that no payment was made, and that the request had been mistakenly approved by a junior Foundation official after he had rejected it.⁶⁷ This is recorded as a documented event; no further public evidence was identified of Ferrari corporate political positioning arising from it.

Internal Governance, Content & Retail Policies

Employee Relations & HR Enforcement

No public evidence was identified of Ferrari N.V. disciplining, suspending, or terminating any employee for pro-Palestinian (or pro-Israeli) speech, display of Palestinian symbols, or related political expression within any Ferrari facility, corporate office, or authorised dealership. No public evidence was identified of labour-union complaints, employment-tribunal proceedings, or whistleblower disclosures alleging politically asymmetric HR enforcement at Ferrari with respect to the Israel-Palestine conflict.

Platform & Editorial Policy

Ferrari N.V. is a physical-goods manufacturer; it does not operate a consumer-facing content platform, recommendation algorithm, or editorial publishing operation subject to content-moderation scrutiny in the sense applicable to technology companies. No public evidence was identified of independent reports, regulatory inquiries, or academic studies documenting Ferrari-specific content suppression or editorial bias related to the Israel-Palestine conflict.

One governance-level adjacency, held in a personal capacity by Ferrari’s Executive Chairman rather than by Ferrari as a corporate entity, is noted in the Executive & Leadership Footprint section below.

Retail, Sourcing & Labeling Practices

No public evidence was identified of regulatory actions, NGO investigations, or journalistic reporting regarding Ferrari’s labelling, sourcing, or product categorisation of any component or material originating from Israeli settlements or the Occupied Palestinian Territories. No publicly documented supply-chain link between Ferrari and Israeli settlement-produced goods or services was identified.

Brand Heritage & State Partnerships

Marketing & Commercial Positioning

Ferrari’s commercial branding is built around Formula 1 racing heritage, Italian craftsmanship, and luxury exclusivity. No public evidence was identified of Ferrari invoking Israeli military heritage, Israeli defence-sector associations, or Israeli state-security relationships in any commercial branding, sponsorship material, or public-relations campaign.

Institutional Honors & State Partnerships

No public evidence was identified of Ferrari N.V. accepting Israeli state honours, hosting Israeli government officials at Maranello in a formal non-commercial institutional capacity, or entering formal partnerships with Israeli state academic, governmental, or parastatal bodies.

No public evidence was identified of Ferrari sponsoring Israeli government-backed cultural-diplomacy or nation-branding programmes (such as “Brand Israel” initiatives, Israeli tourism-board promotions, or Israeli embassy-sponsored events).

Ferrari Owners’ Club Israel

The Ferrari Owners’ Club Israel is listed on the official Ferrari corporate website.⁸ Per the club’s own published description, it was founded in 2020 and has hosted members and their families on events and “panoramic road trips through the Holy Land.”⁸ The club operates under Ferrari’s officially recognised owners’/clubs framework; Ferrari’s broader club programme is coordinated through structures founded by the company for officially recognised clubs.⁹ In May 2026, dozens of Ferraris gathered at the Shalva National Center in Jerusalem in an event coordinated by the Ferrari Club Israel and a named businessman in support of children and adults with disabilities.¹⁰ No public evidence was identified that the club’s published programming acknowledges contested territorial status, and no independent evidence was identified either confirming or excluding club activities within internationally recognised occupied territories.

Lobbying, Advocacy, Financing & Logistics

Political Lobbying

Ferrari is listed on the EU Transparency Register, where its declared fields of interest are automotive-policy matters: “Energy Union, CO2, Mobility, Safety, Transport, Emissions, Alternative Fuels, Trade,” together with industrial-automation and AI topics; its declared annual lobbying cost for the most recent registered period falls in the €300,000–€399,999 band.¹¹ No reference to Israel, Palestine, the Middle East, foreign policy, sanctions, BDS legislation, or arms matters was identified in Ferrari’s registered lobbying interests.¹¹

No public evidence was identified of Ferrari N.V. or Exor N.V. registering as lobbyists, or engaging in documented lobbying activity, specifically on Israel-Palestine policy, BDS legislation, trade sanctions, or arms embargoes in any jurisdiction.

Boycott / Divestment / Sanctions Status

Ferrari N.V. is not named in the Palestinian BDS National Committee’s “Guide to BDS Boycott & Pressure - Corporate Priority Targeting” (dated 30 November 2024); that guide’s named corporate targets are concentrated in technology, defence, settlement-linked retail and tourism, energy, and pharmaceuticals, and name no automotive manufacturer (Ferrari, Exor, and Stellantis are absent).¹² Ferrari is likewise not named on the US Campaign for Palestinian Rights (USCPR) consumer boycott list.¹³ No public evidence was identified of any structured, named boycott, divestment, or sanctions campaign targeting Ferrari N.V. specifically on Israel-Palestine grounds.

Memberships & Financial Contributions

No public evidence was identified of Ferrari N.V. or Exor N.V. holding corporate membership in, or making documented financial contributions to, pro-Israel advocacy organisations (such as AIPAC, the Jewish National Fund, Friends of the IDF, or America-Israel / Israel-Italy chambers of commerce). No public evidence was identified of Ferrari N.V. or any Ferrari-linked foundation making material financial donations to Israeli settlement organisations or to organisations specifically funding Israeli military welfare.

Logistics & Second-Order Investment Nexus (Exor → Via Transportation)

Ferrari’s controlling shareholder, Exor N.V., is a documented investor in Via Transportation, Inc., an Israeli-founded mobility-technology company headquartered in New York with offices in Tel Aviv.¹⁴ Following a financing round completed in February 2023, Exor reported holding approximately 18% of the share capital of Via Transportation and being its single largest shareholder, valuing the holding at €523 million as at 30 June 2023.¹⁴ Via Transportation’s Form S-1 registration statement (EDGAR CIK 0001603015) discloses that, since the war that began on 7 October 2023, over 10% of its employees in Israel, on average each month, have been called to active military duty, and treats their absence as an operational risk.¹⁵ Via’s co-founder and CEO, Daniel Ramot, is described in Stellantis investor materials (in connection with his nomination to the Stellantis board) as an Israeli-American who is a graduate of the Israel Defense Forces’ Talpiot programme and who previously served in / developed systems for the Israeli Air Force.¹⁶

Ferrari N.V. does not directly own or control Via Transportation, and Via does not appear in Ferrari’s consolidated financial statements. The documented relationship is mediated through Exor’s separate investment decisions: Exor is Ferrari’s controlling shareholder and independently holds the Via stake.¹⁴ Daniel Ramot’s IDF background and his Stellantis board nomination are matters of Exor’s separate corporate sphere; Stellantis and Ferrari are distinct companies linked through common Exor/Agnelli ownership.¹⁶

Corporate Structure & Primary Mission

Foundational Mandate

Ferrari N.V. is incorporated under Dutch law with operational headquarters in Maranello, Italy, and is listed on the New York Stock Exchange and Euronext Milan (ticker RACE).¹ Its corporate purpose, as set out in its governing and investor documents, is the design, engineering, manufacture, and sale of luxury performance sports cars and related merchandise and licensing.¹ No public evidence was identified of any provision in Ferrari’s founding or governing documents tying its primary mission to advancing any state’s geopolitical goals, including those of Israel.

Ownership & Voting Structure

Ferrari’s controlling shareholder is Exor N.V. As disclosed on Ferrari’s shareholders’-structure materials, Exor holds approximately 21.2% of Ferrari’s share capital and approximately 32.2% of its voting rights, the voting figure amplified by Ferrari’s loyalty / special-voting-share mechanism, under which qualifying long-held shares carry enhanced voting rights.¹⁷ Piero Ferrari (Trust Piero Ferrari) holds approximately 10.6% of capital and approximately 16% of voting rights; together the Exor and Piero Ferrari parties’ shareholders’ agreement aligns roughly 32% of capital and 48% of voting rights, under a pact reported to be renewed for three years (to 2029) on expiry of the prior agreement in January 2026.¹⁷ Exor N.V. is itself controlled by the Agnelli family holding structure.¹⁷

No public evidence was identified of a state-held “golden share” in Ferrari N.V. or of special veto/governance rights held by the Italian or any other government in Ferrari N.V. under its Dutch incorporation.

Executive & Leadership Footprint

John Elkann - Executive Chairman, Ferrari N.V.; CEO, Exor N.V.

John Elkann was elected to the board of directors of Meta Platforms, Inc. on 6 January 2025, alongside Dana White and Charlie Songhurst; Meta’s announcement describes him as CEO of Exor and Executive Chair of Ferrari and Stellantis.¹⁸ This board seat is held in his personal capacity and is not a Ferrari corporate relationship. Meta has been the subject of a report by the UN Special Rapporteur on freedom of expression, Irene Khan (A/79/319, 23 August 2024), examining threats to freedom of expression arising from the Gaza conflict, including the muzzling of Palestinian advocacy online; that report concerns Meta as a company, and no public evidence was identified attributing any specific Meta content-policy decision to Elkann individually.¹⁹

No public evidence was identified of John Elkann making personal financial donations to Friends of the IDF, the Jewish National Fund, AIPAC, or any named Israeli settlement-support organisation. No public evidence was identified of any documented public statement by Elkann regarding the Gaza conflict, the 7 October 2023 attacks, Palestinian civilian casualties, or Israeli military operations in his capacity as Ferrari Chairman or Exor CEO.¹

Benedetto Vigna - CEO, Ferrari N.V.

Vigna is the named signatory of Ferrari’s March 2022 Ukraine humanitarian statement and the announced €1 million donation.³ No public evidence was identified of Vigna making any statement regarding the Gaza conflict or Israel-Palestine in his capacity as Ferrari CEO, nor of Vigna holding personal affiliations with Israeli state-aligned advocacy organisations.¹³

Other Non-Executive Directors

Eddy Cue serves on Ferrari’s board and is Apple Inc.’s Senior Vice President of Services.²⁰ Mike Volpi serves on Ferrari’s board and is documented as a (retired) partner of the venture-capital firm Index Ventures and a founder of subsequent venture vehicles.²¹ Delphine Arnault and Francesca Bellettini are luxury-sector executives serving on Ferrari’s board.¹ No public evidence was identified of any of these directors using a Ferrari board position to advance Israeli state interests, or of any of them holding positions in Israeli state-aligned advocacy organisations. The presence of Apple and venture-capital figures on the board reflects their primary employers’ general activity and not any documented Ferrari corporate relationship with the Israeli state.

Lewis Hamilton - Scuderia Ferrari Driver

Lewis Hamilton, who joined Scuderia Ferrari for the 2025 Formula 1 season, made a humanitarian visit in December 2024, organised by the British Red Cross, to Jordan, where he met Jordan Red Crescent Society and Palestine Red Crescent Society teams preparing aid for Gaza and called for “a sustained, unimpeded flow of lifesaving support” and critical medical care for the people of Gaza; he made a personal donation to the British Red Cross crisis appeal.²² This advocacy is conducted through Hamilton’s individual public platform and the British Red Cross. No public evidence was identified that Ferrari N.V. amplified, endorsed, match-funded, or responded to Hamilton’s humanitarian statements through any corporate channel.¹²²

End Notes