Silvio Berlusconi, the flamboyant media mogul and former Italian prime minister, passed away on Monday at the age of 86, leaving behind a controversial legacy that transformed Italian politics. Berlusconi, known for his polarizing policies and provocative statements, had been battling leukemia and recently developed a lung infection.
Berlusconi’s death occurred at Milan’s San Raffaele hospital, where he had been receiving treatment since Friday. His four children and brother Paolo were present at his bedside during his final moments. His passing marks a significant event in Italian politics, as his Forza Italia party is part of Prime Minister Giorgia Meloni’s right-wing coalition. While Berlusconi himself did not hold a government position, his influence was far-reaching, and his death is expected to have repercussions in the political landscape of Italy in the months to come.
Beyond politics, Berlusconi’s vast business empire faces an uncertain future. Despite his eldest daughter Marina expected to assume a prominent role, Berlusconi had not publicly designated a successor to lead his MFE (MFEB.MI) company.
News of Berlusconi’s death was met with mixed reactions from allies and rivals alike. Italian Prime Minister Giorgia Meloni expressed her condolences, acknowledging the shared battles they had fought together. Enrico Letta, a former center-left premier, acknowledged Berlusconi’s significant impact on the history of Italy, emphasizing that his passing would resonate with people, regardless of their support for his choices.
Following the announcement of Berlusconi’s death, shares in MFE’s A- and B-shares experienced a surge of up to 10%. Traders on the Milan stock exchange speculated that this development could potentially lead to the sale or merger of the company with a rival.
Berlusconi’s political career began in the 1990s after building a successful television empire in the preceding decade. Despite numerous legal scandals, he served as prime minister four times between 1994 and 2011. In his final term, he faced allegations of hosting “bunga bunga” sex parties involving underage women, although he denied these claims. While acquitted of charges related to the parties, he received a conviction for tax fraud in 2013, resulting in a five-year ban on holding public office.
Even in the face of health issues and ongoing legal battles, Berlusconi remained determined to retain control of Forza Italia. He returned to active politics, winning a seat in the European Parliament in 2019 and securing a position in the Italian Senate last year. Despite presenting himself as an elder statesman, his controversial statements persisted. Notably, he refused to hold Putin responsible for the 2022 invasion of Ukraine, stating that Moscow aimed to install “decent people” in leadership positions in Kyiv.
With Berlusconi’s passing, the future leadership of Forza Italia remains uncertain. As his party won 8% of the vote in 2022, allies and opponents will likely seek to attract his loyal voter base, who remained steadfastly supportive throughout his turbulent career.
Known for his perpetual suntan and charismatic communication skills, Berlusconi brought his expertise as a salesman to the realm of politics, offering an optimistic and appealing vision to voters. However, his penchant for humor often led to controversy, as demonstrated by his remark to his Monza soccer team last December, when he jokingly promised to bring them “a bus of whores” if they defeated a top Serie A rival.