Brothers up in arms: Italian cruise billionaire spars with sibling over disputed inheritance including $2bn company

A luxury cruise firm, a disputed family inheritance, and a Monaco-based tycoon fighting to protect his fortune. It sounds like the summary of the latest must-watch streaming drama, but it’s a clash that’s been playing out for real over more than two decades. It’s centred on two Italian brothers — billionaire Manfredi Lefebvre d’Ovidio and his history professor brother Francesco — over the ownership of the business their father founded.

Francesco claims he’s the rightful owner of 52 per cent of a family holding company, according to court documents. That company owned Silversea Cruises, which under Manfredi’s watch became a leading brand in ultra-luxury cruises. Royal Caribbean Cruises Ltd bought a majority stake in 2018, valuing it at $2 billion.

After years of court hearings and rulings, the case may finally be moving toward its endgame. It’s due to go to an appeal trial in Bologna, which should mark the final decision under Italian law.


Divided House
The siblings grew up in Rome, but while Francesco, born in 1951, pursued an academic career to become a professor of international history, Manfredi, two years his junior, dropped out of university to work with their father Antonio, who died in 2011.

The dispute between the brothers began more than 20 years ago when, according to claims made in court documents, Antonio decided to put the siblings’ holdings into a family trust. The brothers were in disagreement, but in 2001, they found a compromise: Francesco would get properties in Rome and receive a holding company that controlled some shipping assets, while Manfredi would keep the cruise business — with a stake held by their sister Elvira.

Seven years later, however, Francesco went to court against the rest of the family, arguing that the delivery of the shares of the holding company didn’t go through as planned. Manfredi claims the deal was completed as agreed.

French family
The Lefebvres have a storied history, coming from a French family that settled in Naples at the time of the Napoleonic wars. Their ancestor Charles Lefebvre became one of the most notable entrepreneurs and bankers in Southern Italy, partnering up with the Rothschilds.

The family’s fortunes dwindled in the years before the second world war until Antonio, a lawyer specialising in maritime law, set up a shipping company that helped European migrants to move to Australia. Gradually, the firm shifted away from the passenger sector to focus on the cruise industry, leading to the founding of Silversea in the 1990s.