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Better politics than business: Tremonti’s real estate company in the red

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Better politics than business: Tremonti’s real estate company in the red

Giulio Tremonti (Lapresse)

Giulio Tremonti, the former minister’s business is going badly

Giulio Tremonti’s small brick empire and children is not a big deal. The former economy minister of Silvio Berlusconi’s government and former candidate for the Brothers of Italy is in fact majority shareholder with 86% of Immobiliare Naviglio srla Milanese company that owns ten buildings, mostly located in the center of Milan (and in one of which the Tremonti-Romagnoli-Piccardi tax law firm is located in via Crocefisso), valued at over 9.2 million euros in the last balance sheet closed at the end of 2022.

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However, the financial year was closed with a loss of 357 thousand euros (just under the red of 402 thousand euros in 2021) which carried forward cause the total liabilities to rise, also from past years, to over 2.3 million, despite the fact that the real estate was financed by Tremonti for 8.8 million.

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Minority shareholders of the company are the children Giovanni and Luisa each with 7% and even with their bricks they ended up in the red. In fact, they are each 50% shareholder of the Milanese Nitrum srl which owns two properties (one in Milan and one in Genoa) which in the 2022 budget are charged at 3.5 million, but the year ended with a loss of 25 thousand euros.

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