Italian businessman, Paolo Vitelli, founder of Azimut Benetti, died at home following a domestic accident. He leaves an important legacy in the nautical sector, marked by superyachts. His clients include David Bowie, David Beckham and even Cristiano Ronaldo.
Paolo Vitelli, founder of the prestigious Azimut-Benetti, died on the last day of 2024, aged 77, victim of a domestic accident at his home in Mascognaz, in the Aosta Valley, Italy. Known as the “King of Megayachts”, Vitelli turned a small sailboat charter company into an empire that had as clients Cristiano Ronaldo, David Beckham e Kylie Jenner.
The accident occurred on New Year’s Eve when Vitelli tried to open his garage door on a surface that was slippery due to ice. He lost his balance and suffered a fatal fall, hitting his head against a stone wall.
Despite the efforts of emergency teams, it was not possible to revive him. The tragedy shocked the local community.
Born in Turin, Vitelli founded Azimut in 1969 with just 500,000 lire (around 13,700 euros), initially dedicated to renting sailboats. The turning point in his career came in 1985, with the purchase of the historic Italian brand Benetti, at the time in financial difficulties.
Under Vitelli’s leadership, Azimut-Benetti became a global reference in the construction of megayachts, which attracted the world’s biggest figures, such as David Bowie and Prince Ranier of Monaco.
According to the ””, Paolo Vitelli stood out for the simple life he led. In an interviewta went so far as to say that, despite building boats up to 44 meters long, his personal fleet only had a 9 meter boat that he used for ‘getaways’.
In 2024, the company achieved revenues of 1,300 million euros in 2024, with operations in 70 countries and more than 2,500 employees.
With his death, the legacy of Azimut-Benetti goes to his daughter, Giovanna Vitelli, 49, who already headed the company’s management.
