Berlusconi heirs win Dublin High Court approval over Banca Mediolanum shareholding
The late former Italian prime minister Silvio Berlusconi waves to reporters. Picture: AP Photo/Alessandra Tarantino, File
The billionaire children of former Italian prime minister Silvio Berlusconi have succeeded in a Dublin High Court application relating to their shareholding in an Italian bank.
On Thursday, Ms Justice Mary Rose Gearty granted permission to Silvio Berlusconi’s eldest children, Marina Elvira Berlusconi and Pier Silvio Berlusconi, to make a late notification to the Central Bank of Ireland relating to their acquisition of a significant shareholding in lender Banca Mediolanum.
Under statutory regulations, notification of such a transaction to the Central Bank of Ireland is required.
Fininvest, the Berlusconi family investment group, is a significant shareholder in Banca Mediolanum. Mediolanum’s Irish fund management arm is regulated by the Central Bank and is responsible for investments worth approximately €80bn.
Through its investments, Fininvest operates in the media and entertainment, publishing, and financial services sectors.
According to a sworn statement filed with the High Court, Marina Berlusconi said her father held majority control of Fininvest prior to his death.
Following his death in 2023 at the age of 86, Silvio Berlusconi’s shares in Fininvest were divided among his five children, including Marina and Pier Silvio.
In accordance with their father’s wishes, Marina and Pier Silvio subsequently entered into an agreement to take joint control of Fininvest in September 2023. They entered into a further similar agreement in January 2025.
Through their inheritance and subsequent agreements, Marina and Pier Silvio acquired an indirect qualifying holding in Fininvest’s 30.02% stake in Mediolanum.
Such an acquisition requires notification to the Central Bank of Ireland.
Solicitors for the Berlusconis were informed by the Central Bank in August 2025 that a High Court order was required to provide retrospective approval for the acquisition of the holding in Mediolanum.
On Thursday, Declan Murphy BL, for Marina and Pier Silvio, instructed by William Fry solicitors, brought an application seeking permission for late notification of the acquisition to the Central Bank.
The application was made on notice to the Central Bank.
The judge granted the orders sought.
Forbes magazine estimates that the fortune of Marina Berlusconi, chair of the Fininvest board, is valued at approximately €2.7bn. Pier Silvio, a director on the board, is estimated to have a similar fortune.
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