Valentino's legacy: a multi-million dollar empire that his (beloved) ex-boyfriends could inherit

BarcelonaTo come from nothing and manage to remain at the top of the fashion industry for five consecutive decades, an icon of luxury and elegance, is such a feat that if we weren't absolutely certain it had happened, we might doubt it, and that disbelief would be entirely justified. This, which Valentino accomplished with admirable serenity and steady progress, is far from being achieved by the most acclaimed figures in the industry today. Most people who work in fashion now—and not in such high-profile positions as creative director of a globally influential brand—end up leaving the forefront of the industry after a few years to retreat to secondary roles because they can't cope with its relentless pace. That's why stories like that of the late Valentino Garavani, who died this week at the age of 93 in RomeThese events can only be accompanied by the story of an impressive fortune, the fate of which we will now know.

Garavani, born in a small town in Lombardy when Benito Mussolini still ruled Italy with an iron fist, managed to build an empire throughout his life that some media outlets have estimated, after his death, at up to $1.5 billion. The question that underlies the designer's passing is who will inherit this vast fortune, comprised of top-tier properties in the world's most coveted locations, works of art, and all kinds of royalties and financial assets. The answer is still uncertain. The only thing that is known for sure is that he could have stipulated anything in his will, since he was an only child—and therefore had no direct nephews or nieces—and he never had any children of his own.

The Chosen Family

With this starting point and so much wealth to divide, it's natural that attention focuses on his inner circle, made up of the people he made his chosen family before the term was even invented. In this context, the name of Carlos Souza stands out, a man who is now 70 years old and whom he met at the Rio de Janeiro Carnival. At the time, the Brazilian was little more than a teenager, and Garavani was already over 40. Their sudden infatuation led the designer to invite the young man to Europe shortly afterward, something that would change his destiny forever. Souza began working for major fashion houses and, at the same time, surrounded himself with influential people like Andy Warhol, who opened the doors of the magazine for him. InterviewAfter having a romantic relationship with Valentino, she became one of the most influential public relations figures in fashion for many years, which also strengthened her relationship with the designer even after they had broken up.

The romantic relationship with Souza ended, but not the friendship, which remained intact until his last day. In fact, the retired model started a heterosexual family with two sons, who, naturally, became the designer's godchildren and are now widely seen as potential heirs to his personal fortune, alongside their father. While it's true that Souza had worked so hard and that his mother, Charlene Shorto, comes from a prominent family related to the Thyssen-Bornemisza family, it would be unusual for Valentino, after watching them grow up and spending countless summers and winters together, to pass away. Sean and Anthony Souza, two discreet young men with no social media presence, have recently garnered significant media attention.

A love story spanning six decades

It would also be surprising if Giancarlo Giammetti, Valentino's partner during the 1960s and early 1970s, weren't included in the equation. Giammetti was an architecture student in Rome who helped the designer save the company in 1959 after he returned from Paris to found his own label. It was on the verge of bankruptcy, but with Giammetti's support, it managed to pull through and become the brand of choice for the elite. celebrities Valentino has been a fashion icon for many, from Audrey Hepburn to Liz Taylor and Jackie Kennedy. The latter commissioned six black and white dresses for events following the tragic death of her husband. Years later, Valentino also designed her wedding dress for her marriage to Aristotle Onassis. The list of celebrity clients that followed is endless and includes everyone from Queen Sofia of Greece—who owns a considerable collection—to Julia Roberts, who accepted an Oscar wearing a black and white Valentino gown that has become a part of Hollywood Academy Awards fashion history.

Giammetti was to Valentino what Pierre Bergé was to Saint Laurent: his shadow, both during and after their romantic relationship, but always with affection. In fact, his connection to the brand that bore his ex-partner's name has always been so strong that on his Instagram account he presents himself as Valentino's co-founder. For all these reasons, Giammetti, five years younger than the designer, who abandoned his career for his love at a time when homosexual relationships were described with every adjective imaginable except "lasting," is one of the leading candidates to receive a place of honor in the designer's will.

A foundation with a large estate

In fact, as they explained in 2008 in the newspaper The Republic Regarding the importance of their relationship, "it's the story of a great affection, developed over the years, between two people who would be capable of killing for each other." Because of their close relationship, Valentino and Giammetti have a joint foundation that could also appear as a recipient of some—or many—of the designer's assets, as this would provide it with sufficient resources to ensure the long-term continuity that the foundation deserves, given its role in disseminating the designer's impact on the modern history of fashion.

While it's true that there's a vast empire to divide, the Valentino brand no longer belongs to its founder, as he had sold it. Currently, the most emblematic Roman brand is 30% owned by the French company Kering and 70% by the Qatari sovereign wealth fund Mayhoola For Investments LLC. It's intriguing to know what will happen to the sumptuous mansions that Valentino collected around the world. While it's undeniable that these properties represent both real estate value and an artistic legacy, the creator's passion for interior design transformed them into almost museum-like spaces. The portfolio includes Villa Letizia in Rome; Villa La Cercola in Capri; La Vagnola in Tuscany; an Alpine chalet in Gstaad; the Château de Wideville near Versailles; a penthouse in Manhattan; and the €15 million yacht where they spent their summers. All these residences are filled with first-rate works of art and period furniture that could easily justify a luxury trip that the wealthiest would pay for without hesitation. However, as always seems to happen, perhaps we will end up seeing it sold to the highest bidder at some auction, where all this beauty will be sold to wealthy, anonymous hoarders who will remove it from the public eye forever.