Paolo Vitelli, founder of Azimut Yachts, has died following an accident at his house in Valle d’Aosta, Italy, at the age of 77.
He was born in Turin in 1947 and graduated in Economics and Commerce in 1970.
In 1969 at the age of 22, Paolo founded Azimut, initially as a sailing boat rental business. The following year, the company participated in the Genoa Boat Show, gaining international visibility, and began importing luxury yachts.
Over the years, Paolo significantly expanded the company’s presence in the Italian superyacht sector and made it his mission to build the most beautiful, reliable, technological and innovative yachts alongside providing assistance anywhere, and at any time.
In 1975, the company began boatbuilding production with the AZ 43′ Bali model, the first fibreglass model in the AZ range. the AZ 43′ Bali model, the first fibreglass model in the AZ range.
In 1985, Paolo bought the historic Benetti shipyard which had been founded in 1873, in a move which allowed him to create the Azimut|Benetti Group.
Over the years, Azimut|Benetti has grown to become one of the world’s leading luxury yacht manufacturers and now has six construction sites in Italy and one in Brazil.
The group’s annual production reached a value of 1.3 billion euros in 2023, with around 2,500 employees and a supply chain of 5,000 people.
The Group sells around 95% of its models in more than 70 countries and has a worldwide dealer network with clients including the likes of Cristiano Ronaldo, Prince Rainier of Monaco and David Bowie.
In 2024, the Group had a 20% share of the global superyacht and megayacht market by total length of construction.
In addition to his entrepreneurial career, Paolo was involved in social and cultural commitments.
In Valle d’Aosta, Paolo bought and restored the Hotel Breithorn and contributed to the revival of the Walser village of Mascognaz, transforming it into a luxury resort.
He was also honorary consul of Norway from 1974 to 2018 and president of Ucina, the Association of the Italian nautical industry, from 1998 to 2006.
He was awarded an honorary degree in mechanical engineering in 2024 from the Polytechnic University of Turin and in In 2013, was elected as a Member of Parliament.
