Raffaello Follieri

As Disney prepares for the highly anticipated Princess Diaries 3, fans are eager to see Anne Hathaway return as Mia Thermopolis, the down-to-earth teen turned royal queen of Genovia. While Hathaway's career continues to thrive, many may recall her former relationship with the now infamous Raffaello Follieri, whose fall from grace made international headlines. Though Hathaway has moved on, the question remains: where is Follieri today, and what has he been up to since his high-profile scandal?

Princess Diaries 3: A Royal Comeback

With Princess Diaries 3 now officially in development, director Adele Lim, known for her work on Crazy Rich Asians and Joy Ride, is set to helm the latest instalment of the beloved franchise. Lim shared her excitement with Variety, stating, "As a diehard fan of the original Princess Diaries, I'm beyond excited to be a part of bringing the third iteration of this beloved franchise to life." Anne Hathaway, who became a household name through her role as Mia Thermopolis, will return and also serve as a producer.

Since the announcement, there has been mounting excitement for the continuation of Mia's journey, which began in 2001 and saw a sequel, Royal Engagement, in 2004. But as the spotlight returns to Hathaway's professional triumphs, some fans are reminded of her past romantic entanglement with Raffaello Follieri, a man who once seemed to embody the same fairytale qualities as her on-screen love interests, only for his empire to crumble spectacularly.

The Rise and Fall of Raffaello Follieri

For a time, Hathaway's relationship with Follieri appeared like a real-life version of her Princess Diaries character's whirlwind life. A charismatic Italian businessman, Follieri wooed Hathaway with grand gestures, jet-setting vacations, and expensive gifts. According to The Daily Mail, Hathaway often referred to Follieri as "a god" and was captivated by his charm and apparent success. Follieri, who claimed close connections to the Vatican, quickly gained the trust of investors and used this clout to fund a lavish lifestyle with Hathaway by his side.

But in 2008, the fairytale romance came to an abrupt halt when Follieri was arrested on multiple charges of fraud, conspiracy, and money laundering. His fraudulent schemes, which became known as the "Vati-Con" scandal, involved misappropriating investor funds, including those of billionaire Ron Burkle, under the guise of acquiring Catholic Church properties in the United States. As his empire unravelled, Hathaway ended their relationship just before Follieri's arrest, and the two never spoke again. Follieri was sentenced to four-and-a-half years in federal prison for his crimes, as reported by The Daily Mail .

Life After Prison: Follieri's New Chapter

After serving his sentence, Raffaello Follieri was deported to Italy in 2012, where he faded from the public eye. But his story didn't end there. In recent years, Follieri has re-emerged in the business world, rebuilding his fortune and reputation. According to NY Weekly, Follieri has reinvented himself as a visionary entrepreneur, particularly in the green energy sector. As the CEO of F Holding UAE/Follieri Capital Limited, Follieri has spearheaded major initiatives in renewable energy, focusing on electric vehicle chargers and hydrogen technology, positioning his company at the forefront of sustainability efforts. His work in this field has not only helped to rebuild his professional reputation but has also garnered him significant success, with his company's market capitalisation reaching 150 million euros.

Follieri's ventures now span across Italy, Greece, and the Middle East, with a diverse portfolio in the energy sector. His focus on innovation and sustainability reflects a marked shift from his previous career in real estate, demonstrating his ability to adapt and thrive in an ever-changing business landscape. As reported by NY Weekly, Follieri's leadership has positioned his company as a global player in the transition from fossil fuels to renewable energy sources, underscoring his commitment to driving positive change.

A Visionary in Business and Sustainability

Born and raised in Italy, Follieri began his academic journey at the prestigious University of Roma La Sapienza, which laid the foundation for his future endeavours. In 2002, he co-founded the Follieri Group with his father, making a name for himself in the real estate sector in the United States. However, it was his involvement in the green energy space that ultimately marked the next phase of his career.

As the CEO of Follieri Energy, he has steered the company towards innovation in electric vehicles and green technologies. His commitment to sustainability is reflected in the company's focus on renewable energy, which not only addresses the pressing issues of climate change but also positions Follieri as a pioneer in this critical sector.

In 2022, Follieri made headlines again with the sale of his minority shareholding in BLS LTD for a staggering 1.5 billion euros, further cementing his status as a formidable figure in the business world. Additionally, his ventures in rare metal trading, particularly in the rare earths market, have solidified his reputation in global commodities. Follieri commands a significant stake in the rare earths sector, valued at around 30 billion euros, according to NY Weekly.

A New Chapter, but the Past Lingers

Despite his business successes, Raffaello Follieri's past continues to cast a shadow. In an interview with Page Six, Follieri claimed to be in negotiations to purchase a 50% stake in the Italian football club Foggia Calcio, though former investor Ron Burkle's representatives quickly denied any involvement. Follieri's assertions were dismissed as fabrication, raising questions about whether his newfound success is free from the controversies of the past.

Nevertheless, Follieri remains undeterred in his pursuit of business ventures. According to NY Weekly, he continues to expand the geographical reach of Follieri Energy throughout Europe, the Middle East, and Africa, with plans to secure a listing on the London Stock Exchange in the near future.