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 |  Get the latest breaking news delivered straight to your inbox.Copyright © 2020 CBS Interactive Inc. All rights reserved. Two weeks ago, Fiat said losses for the first three months of 2004 came in at 158m euros ($187m; £106m), down from 342m euros during the same period last year. DEATH and defection: troubles do not come singly at Fiat, Italy's struggling carmaker. As the decades unfolded, the family was to … Business The loss of Umberto Agnelli could loosen the Agnelli dynasty's grip on the industrial empire it founded more than 100 years ago. "All I can think of are these two rich widows, who were left by the two Agnelli brothers. Business Their heirs are young men in their 30s, and I wonder if they will have the fire in their belly. 24 Jan 03 Umberto Agnelli was born on November 1, 1934 and died on May 28, 2004. Gianni Agnelli, the industrialist credited with transforming Fiat from an obscure Italian car maker into a major force in the global automotive industry as well as other industries, was the firm's honorary chairman when he died. Business Mr Agnelli, 69, was appointed Fiat chairman in February last year after the death of his brother, legendary Fiat chairman Gianni Agnelli.  |   |  Trump pulled from briefing after Secret Service opens fire outside White HouseGlobal coronavirus cases top 20 million after doubling in 45 daysBiden has spoken to his top VP choices — and a decision is imminentAsylum officers denounce Trump rule they would be charged with enforcingTrump's $400 in unemployment aid: When would it start?House won't return until mid-September amid coronavirus gridlockBattleground Tracker: Latest polls, state of the race and more5 things to know about CBS News' 2020 Battleground TrackerBiden has edge in North Carolina, race is tight in Georgia — CBS News pollWhy some mail-in ballots are rejected and how to make sure your vote countsWhat happens if the president doesn't accept the election results?Election Day could turn into "Election Week" with rise in mail ballotsGOP confident in Ohio, but Dems think it's within reach

He was married to Allegra Caracciolo di Castagneto and Antonella Bechi Piaggio.

Business Umberto took the top job at Fiat in early 2003 following his brother Gianni's death and amid disagreements with the American shareholder, General Motors. Umberto Agnelli (1 November 1934 – 27 May 2004) was an Italian industrialist and politician. "This is the end," cafe owner Lucio Manfrinato said morosely. As the decades unfolded, the family was to be both glamorous and tragedy-stricken, drawing frequent comparisons to the Kennedys in the United States.Umberto Agnelli suffered grief early: His father died when he was 1, his mother when he was 11.

Born in 1934, Umberto Agnelli was the youngest of seven children born into a growing automobile empire. That death came after a dramatic decline in the company, whose stock price and market share had plummeted.In February, Umberto Agnelli spoke with delight about the company's improved financial results of late. Umberto and Antonella later divorced, and Umberto married Donna Allegra Caracciolo di Castagneto in 1974, who is the first cousin of his sister in law Marella Caracciolo di Castagneto. The BBC is not responsible for the content of external internet sites 08 Mar 04 Umberto Agnelli was born on November 1, 1934 in Lausanne, Switzerland. Prior to becoming Fiat chairman, Mr Agnelli had been head of his family's holding companies, IFI and IFIL, the firm's main shareholders. "What gives us a certain satisfaction is that, despite significant losses, we can still see notable improvements in the fourth quarter due to the work that's been done," he said then.However, at a shareholders' meeting three weeks ago, Agnelli was absent - highly unusual for top Fiat brass and a hint that his health was suffering.In Turin, the northern city where Fiat has long been the main industry, the news arrived on a grim foggy morning and set the place abuzz. At age 22, he was named chairman of the team and was tied to it until his death.He took major roles in Fiat itself over the years, but nonetheless remained in his elder brother's shadow.

He also outshone the younger Umberto, who always was a more retiring character.Umberto studied law and occupied his free time with the family's soccer club, Juventus, which is Italy's most successful team. The young man, who passed away at 33, had been groomed to take over Fiat.Already in the 1990s, Fiat's slide had begun, with less help from the government and tough competition from international automakers. Umberto Agnelli. "You've got to be obsessed with automobiles to carry forward a car company, and these people had the obsession of making cars. RELATED INTERNET LINKS:

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