Paolo Vitelli, the visionary founder of Azimut Benetti, has tragically passed away at 77 due to a domestic accident in Ayas, Italy.

Vitelli, who transformed a small boat rental business into the world’s leading yacht manufacturer, was known for his innovative approach, blending automotive production techniques with yacht building.

Under his leadership, Azimut Benetti grew to generate €1.3 billion in revenue, employing over 2,500 people globally.

Beyond business, Vitelli revitalized the historic Walser village of Mascognaz into a luxury resort and was named "Torinese of the Year" in 2022. He had recently handed over the company’s reins to his daughter, Giovanna, marking the end of an era for the self-made entrepreneur.

His legacy as a pioneer in the luxury yacht industry and a cultural contributor will endure.