FX.co ★ Berlusconi’s account rising despite conviction

Italy’s ex-Prime Minister Silvio Berlusconi is enjoying a big politician’s status: he keeps making money and gaining political popularity even after having received the guilty verdict. The legal proceedings did not influence the financial state in any fashion. Meanwhile, Berlusconi’s fortune has increased by 25% that is in line with the proverb: you can postpone a war, but never a lunch. According to the economists’ estimates, Silvio’s assets have risen by 26% more; now the assets are worth $7.5 billion. Bloomberg statistics agency reports that the billionaire’s wealth has grown thanks to enhancing the shares’ cost of Mediolanum, his insurance company, and Mediaset, his media group. The Italian politician is also in possession of Fininvest financial company, Mondadori publishing house, and football club Milan. Moreover, the politician and his family have stakes in Mediobanca investment bank and Molmed medical company. It should be reminded that Italy’s Supreme Court affirmed the guilty verdict with a real prison sentence for the former Prime Minister. He was committed to a 4-year jail sentence; however, he was included in the amnesty and his prison term was lowered to one year. Besides, the politician in disgrace has to pay a huge fine of €10 million, and he will not be allowed to hold a chair of state during five years.