Bernie Ecclestone’s Wife Buys a Very Expensive House in Portugal
Bernie Ecclestone’s Wife Buys a Very Expensive House in Portugal
Introduction
Fabiana Flosi is the wife of Bernie Ecclestone. Bernie was the boss of Formula One racing. Fabiana bought a big house in Portugal. The house cost 35 million euros. This is the most expensive house in the country. It has a swimming pool and a tennis court.
Main Body
The house is in a town near Lisbon. A famous football player lives near the house. His name is Cristiano Ronaldo. Bernie and Fabiana ate dinner at a fish restaurant in the town with their family. Bernie is 95 years old. Fabiana is 49 years old. They have a son. His name is Ace. Ace is five years old. He only uses a computer or phone on Tuesdays. Bernie and Fabiana work as a team to teach their son. Bernie sold many things last year. He sold a very big boat. He also sold 69 fast cars. He got 500 million pounds for the cars. Bernie made a mistake with his taxes. He paid a lot of money to the government. Bernie started work when he was 16 years old. He bought a racing team a long time ago. He sold the rights to show the races on TV. He became a very rich man. He has four children.
Conclusion
The family has a new home in Portugal. Bernie sold his boat and his cars. He paid his taxes to the government. Now the family lives in a beautiful place with famous neighbors.
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Bernie Ecclestone’s Wife Acquires Record €35 Million Portuguese Estate Following Recent Asset Sales and Tax Settlement
Introduction
Fabiana Flosi, the wife of former Formula One chief executive Bernie Ecclestone, has reportedly bought a €35 million mansion in the resort area of Quinta da Marinha, Cascais, Portugal. The Portuguese daily Correio da Manha called it the largest private residential sale in the country's history. The deal was completed three months ago after six months of negotiations. The property, previously owned by Portuguese entrepreneur Marco Galinha, includes a swimming pool, tennis court, and internal lift. This purchase adds to the couple's property collection and puts them near footballer Cristiano Ronaldo, who owns a nearby estate.
Main Body
According to Correio da Manha, the sale price of €35 million makes it the most expensive private home ever sold in Portugal. The mansion is located in the Sintra-Cascais Natural Park, about 15 miles west of Lisbon. The previous owner, Marco Galinha, is the founder of the Grupo BEL business group. The couple's potential neighbors include Cristiano Ronaldo, whose own mansion in the same development is valued at €30 million. Ecclestone and Flosi were reportedly seen dining at a local seafood restaurant in Cascais with two of Ecclestone's daughters. Family dynamics and parenting approaches have been a topic of public discussion. Ecclestone, aged 95, and Flosi, who is 46 years younger, have a five-year-old son named Ace. In an interview with the German newspaper Bild, Flosi described their co-parenting strategy as a team effort. She noted that Ecclestone uses a calm attitude to make sure Ace follows screen-time rules. She also mentioned that the couple limits Ace's access to online devices to Tuesdays only, a rule that is different from that of his classmates. In a separate interview marking his 95th birthday, Ecclestone described Ace as intelligent and curious. Recent months have seen a series of asset sales by Ecclestone. In October of the previous year, he sold his superyacht Petara, named after his daughters from his second marriage. The yacht, previously worth £17 million with annual running costs of £1.7 million, was sold after being rarely used. Earlier in the same year, Ecclestone sold his collection of 69 Formula One and historic supercars to Red Bull co-owner Mark Mateschitz. Although the final sale price was not disclosed, estimates valued the collection at about £500 million. Ecclestone stated that the vehicles represented 70 years of Formula One history and that he was satisfied they were in good hands. These sales followed a 2023 court case in London, in which Ecclestone admitted he misled HM Revenue and Customs (HMRC) about assets abroad. He paid £750 million in unpaid taxes and received a 17-month suspended prison sentence. The court found that he had hidden the existence of a Singapore trust when questioned in July 2015. His legal representative argued that the failure to mention it was not on purpose but resulted from not knowing his financial affairs. Ecclestone's career history provides context for how he built his wealth. Born in East London in 1930, he left school at 16 and started selling motorbike parts while working for the Gas Board. He got into Formula One in 1972 by buying the Brabham team for £100,000. Through his position on the Constructors' Association board, he bought the worldwide TV rights to the sport, which he sold in over 100 countries. By the early 1990s, Formula One was worth £2.5 billion, and Ecclestone was making about £1 million per week. The sport was eventually bought by Liberty Media for £6.4 billion. He has been married three times: to Ivy Bamford (1952), to Croatian model Slavica Radić (1985–2009), and to Fabiana Flosi (2012–present). His divorce from Radić reportedly required him to pay £60 million per year. Ecclestone has four children, including daughters Tamara and Petra from his second marriage.
Conclusion
The purchase of a record-priced Portuguese mansion by Fabiana Flosi adds an important property to the Ecclestone family portfolio. This purchase occurs following significant asset sales and the settlement of a major tax issue, reflecting a period of financial reorganization for the former Formula One magnate. The family's continued presence in Cascais, alongside high-profile neighbors, shows their continued interest in luxury property markets.
Vocabulary Learning
Sentence Learning
Bernie Ecclestone’s Wife Acquires Record €35 Million Portuguese Estate Amidst Recent Asset Disposals and Tax Settlement
Introduction
Fabiana Flosi, the wife of former Formula One chief executive Bernie Ecclestone, has reportedly completed the purchase of a €35 million mansion in the resort area of Quinta da Marinha, Cascais, Portugal. The transaction, described by the Portuguese daily Correio da Manha as the largest private residential sale in the country’s history, was finalized three months ago after six months of negotiations. The property, previously owned by Portuguese entrepreneur Marco Galinha, includes a swimming pool, tennis court, and internal lift. The acquisition adds to the couple’s real estate portfolio and places them in proximity to footballer Cristiano Ronaldo, who owns a nearby estate.
Main Body
The property acquisition represents a significant real estate transaction in Portugal. According to Correio da Manha, the sale price of €35 million makes it the most expensive private home ever sold in the country. The mansion is located in the Sintra-Cascais Natural Park, approximately 15 miles west of Lisbon. The previous owner, Marco Galinha, is the founder of the Grupo BEL business conglomerate. The couple’s potential neighbours include Cristiano Ronaldo, whose own mansion in the same development is valued at €30 million. Ecclestone and Flosi were reportedly seen dining at a local seafood restaurant in Cascais with two of Ecclestone’s daughters. Family dynamics and parenting approaches have been a subject of public discussion. Ecclestone, aged 95, and Flosi, 46 years his junior, have a five-year-old son named Ace. In an interview with the German newspaper Bild, Flosi described their co-parenting strategy as a team effort, noting that Ecclestone uses a calm demeanor to enforce screen-time limits. She also mentioned that the couple restricts Ace’s access to online devices to Tuesdays only, a policy that differs from that of his classmates. Ecclestone, in a separate interview marking his 95th birthday, characterized Ace as bright and curious. Recent months have seen a series of asset disposals by Ecclestone. In October of the previous year, he sold his superyacht Petara, named after his daughters from his second marriage. The vessel, previously valued at £17 million with annual running costs of £1.7 million, was sold after limited use. Earlier in the same year, Ecclestone sold his collection of 69 Formula One and historic supercars to Red Bull co-owner Mark Mateschitz. Although the final sale price was not disclosed, estimates placed the collection’s value at approximately £500 million. Ecclestone stated that the vehicles represented 70 years of Formula One history and that he was satisfied they were in capable hands. These disposals followed a 2023 legal proceeding in London, in which Ecclestone admitted to misleading HM Revenue and Customs (HMRC) regarding overseas assets. He paid £750 million in back taxes and received a 17-month suspended sentence. The court found that he had concealed the existence of a Singapore trust when questioned in July 2015. His legal representative argued that the omission was not intentional but resulted from a lack of awareness of his financial affairs. Ecclestone’s career trajectory provides context for his wealth accumulation. Born in East London in 1930, he left school at 16 and began trading motorbike parts while working for the Gas Board. He entered Formula One in 1972 by purchasing the Brabham team for £100,000. Through his position on the Constructors’ Association board, he acquired the global television rights to the sport, which he sold in over 100 countries. By the early 1990s, Formula One was valued at £2.5 billion, and Ecclestone was earning an estimated £1 million per week. The sport was eventually sold to Liberty Media for £6.4 billion. He has been married three times: to Ivy Bamford (1952), to Croatian model Slavica Radić (1985–2009), and to Fabiana Flosi (2012–present). His divorce from Radić reportedly involved annual payments of £60 million to him. Ecclestone has four children, including daughters Tamara and Petra from his second marriage.
Conclusion
The acquisition of a record-priced Portuguese mansion by Fabiana Flosi adds a notable real estate asset to the Ecclestone family portfolio. This purchase occurs against a backdrop of significant asset sales and the resolution of a major tax dispute, reflecting a period of financial restructuring for the former Formula One magnate. The family’s continued presence in Cascais, alongside high-profile neighbours, underscores their sustained engagement with luxury property markets.