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Globus president Sergio Mantegazza dies aged 96

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Sergio Mantegazza, who helped build the multinational Globus travel company empire, has died aged 96.

The Swiss-Italian billionaire had been owner and president of the business and died on Tuesday, according to reports in European media outlets and through the Swiss news agency Keystone-SDA.

During its history, the company launched Cosmos Holidays in the UK in 1961, with Mantegazza taking the helm of Globus from his father Antonio in 1975 and expanding its reach.

Some credited the entrepreneur with inventing mass tourism from the UK by both coach and air under the Cosmos Coach, Air, Monarch Airlines and Avro brands, with Avalon Waterways launched in 2004.

A history of the group on the Cosmos website details the company’s history.

An excerpt says: “Beginning In 1974, under the flagship of Sergio Mantegazza, son of Antonio and current president of Globus, the company’s brands began expanding their markets beyond Great Britain.  

“The ‘70s was a big decade for the company, introducing wayfarers to more countries than any other tour operator with packages to Africa, Australia, North and South America, Southeast Asia, Europe and the South Pacific.  

“Also in the early ‘70s, Globus launched its North American company – Group Voyagers – overseeing U.S. tour operations and the American market for the Globus and Cosmos brands.”

Monarch was financed by Globus in 1968 and his son Fabio was chief executive of the airline until the family exited a decade ago, three years prior to its collapse.    

The Globus group of companies consists of more than 30 tourism and aviation businesses, with more than 5,000 staff. The companies’ escorted and independent holidays run almost 10,000 departures and almost 300 different itineraries, covering more than 70 countries on six continents.

According to Forbes, Mantegazza was the 16th richest person in Switzerland, with an estimated net worth of $2.7 billion.

Tributes have been paid on Facebook groups for Cosmos Holidays staff.

G Adventures EMEA managing director Brian Young posted on X (formerly Twitter): “Very sad to be reading posts to say the owner of Globus – Sergio has passed away. He was a pioneer of our industry.”  

A Globus spokesperson said: “Mr Mantegazza was an inspirational and visionary leader who paved the way for the Globus and Cosmos product innovation, market expansion and volume growth over three generations. He will forever remain in our hearts, and an unforgettable part of the Globus family of brands.”

The spokesperson added a private funeral has been held.

Sergio Mantegazza was induced into the British Travel & Hospitality Hall of Fame in 2006.

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Sergio Mantegazza Swiss Billionaire, Dead age 96

Fr, 16. Februar 2024

Ticino billionaire Sergio Mantegazza, renowned for elevating Globus Viaggi to global prominence, passed away in Ticino. His legacy spans from a humble pedalo rental to a global tourism empire.

Ticino billionaire Sergio Mantegazza, a pivotal figure in global tourism, died in Ticino. In the 1950s, he propelled his father’s travel agency, Globus Viaggi, to international acclaim. Forbes Magazine acknowledged him among the world’s wealthiest.

The “Corriere del Ticino” team confirmed his passing to Keystone-SDA. They received the notice on Thursday.

The Mantegazza family’s venture began in the 1920s with pedalo rentals on Lake Lugano. It evolved to offer coach excursions and, by 1950, trips to iconic European destinations under “Globus Viaggi.”

In 1968, they launched Monarch Airlines in Luton, England. By 2006, it served seven million passengers. The Globus Group, as per the Historical Dictionary of Switzerland, had 5,000 employees and 34 aircraft in 2008.

The family exited Monarch Airlines in 2014 after significant investments, totaling about 150 million francs, to support the airline.

Beyond aviation, the Mantegazzas had ties to sports, with Sergio’s brother Geo leading the Lugano field hockey club to numerous victories in the 1980s. Today, Geo’s daughter Vicky heads HC Lugano.

Forbes listed Sergio Mantegazza as the 1164th richest globally in 2023, with a fortune of $2.7 billion at the age of 96.

©Keystone/SDA

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Luxury yachts and other myths: How Republican lawmakers echo Russian propaganda

Two senior Republican lawmakers, the chairs of the House Intelligence and Foreign Affairs committees, say their colleagues are echoing Russian state propaganda against Ukraine.

Researchers who study disinformation say Reps. Mike Turner, R-Ohio, and Michael McCaul, R-Texas, are merely acknowledging what has been clear for some time: Russian propaganda aimed at undermining U.S. and European support for Ukraine has steadily seeped into America’s political conversation over the past decade, taking on a life of its own.

McCaul, chair of the House Foreign Affairs Committee, told Puck News he thinks “Russian propaganda has made its way into the United States, unfortunately, and it’s infected a good chunk of my party’s base.”

Turner, chair of the House Permanent Select Committee on Intelligence, told CNN that anti-Ukraine messages from Russia are “being uttered on the House floor.”

For the past decade, since Russia’s first military incursion into Ukraine in 2014, Moscow has spread propaganda and disinformation in a bid to undercut U.S. and European military support for Ukraine, according to U.S. and Western officials.

Some of the arguments, distortions and falsehoods spread by Russia have taken root, mostly among right-wing pro-Trump outlets and Republican politicians, researchers say, including that Ukraine’s government is too corrupt to benefit from Western aid and that the Biden family has alleged corrupt ties to Ukraine.

Russia, in keeping with traditional propaganda techniques, seeks to make its case and tarnish Ukraine through a mixture of outright falsehoods, half-truths, inferences or simply amplifying and promoting arguments already being made by American or European commentators and politicians, researchers say.

The propaganda is sometimes spread covertly, through fake online accounts, or openly by Russian officials and state media. As a result, the origin of some allegations or criticisms is often opaque, especially when a certain accusation or perception has gained wide acceptance, leaving no clear fingerprints.

Early in the war, a false story boosted by Russian propaganda — that the U.S. had helped Ukraine build biological weapons labs — gained traction on right-wing social media and was touted by then-Fox News host Tucker Carlson.

Russia also is conducting a parallel propaganda campaign in Europe. Belgium’s prime minister said Thursday that his government is investigating alleged Russian bribes to members of the European Parliament as part of Moscow’s campaign to undermine support for Ukraine. Czech law enforcement officials last month alleged that a former pro-Russian member of Ukraine’s parliament, Viktor Medvedchuk, was behind a Prague-based Russian propaganda network designed to promote opposition to aiding Ukraine.

Here are some examples of Republican lawmakers using arguments often promoted by Russian propaganda:

Buying yachts

When Ukrainian President Volodymyr Zelenskyy met with members of Congress behind closed doors in December to appeal for more U.S. help for his country’s troops, some lawmakers raised questions about Ukraine allegedly buying yachts with American aid money.

Zelenskyy made clear that was not the case, according to Republican Sen. Thom Tillis of North Carolina, a strong supporter of arming Ukraine. “I think the notion of corruption came up because some have said we can’t do it, because people will buy yachts with the money,” Tillis told CNN. “[Zelenskyy] disabused people of those notions.”

Where did the yacht rumor come from?

Pro-Russian actors and websites promoted a narrative alleging Zelenskyy bought two superyachts with U.S. aid dollars. One Russia-based propaganda site, DC Weekly , published a story last November that included photos of two luxury yachts, called Lucky Me and My Legacy , which it alleged were bought for $75 million.

Rep. Marjorie Taylor Greene, R-Ga., a vocal opponent of military aid to Ukraine, in November retweeted a post about the alleged yacht purchase from the Strategic Culture Foundation, a Russian-based propaganda outlet directed by Russia’s intelligence services, according to the Treasury Department. The U.S. has imposed sanctions on the organization, accusing it of spreading disinformation and interfering in U.S. elections.

Another outspoken critic of aid to Ukraine, Republican Sen. J.D. Vance of Ohio, also made a similar claim.

In a December interview with former President Donald Trump’s White House adviser Steve Bannon, Vance claimed that members of Congress wanted to cut Social Security benefits to provide more aid to Ukraine, and that money would allegedly be used for Zelenskyy’s ministers to “buy a bigger yacht.”

“There are people who would cut Social Security, throw our grandparents into poverty. Why? So that one of Zelenskyy’s ministers can buy a bigger yacht?” Vance said. “Kiss my ass, Steve. It’s not happening.”

The tale of Zelenskyy’s luxury yacht, however, turned out to be totally false . The yachts cited in the DC Weekly article remain up for sale , the owners told The Associated Press.

Two academics at Clemson University, disinformation researchers Darren Linvill and Patrick Warren, found that DC Weekly ran numerous stories copied from other sites that were rewritten by artificial intelligence engines. The articles had bylines with fake names along with headshots copied from other online sites. DC Weekly appeared to be a Russian effort to launder false information through a seemingly legitimate news site as part of an attempt to undermine U.S. support for Ukraine, according to the researchers .

Asked by reporters about Vance’s comments, Tillis said: “I think it’s bullshit. ...If you’re talking about giving money to Ukrainian ministers — total and unmitigated bullshit.”

Greene’s office did not respond to a request for comment.

Vance’s spokesperson said the senator was making a rhetorical point about how he opposed sending U.S. assistance to what he sees as a corrupt country, but was not asserting the yacht stories online were accurate.

Vance’s office referred NBC News to an earlier response to the BBC on the same topic:

“For years, everyone in the West recognized that Ukraine was one of the most corrupt countries in the world. Somehow everyone forgot that just as we started sending them billions of dollars in foreign aid.”

Enabling ‘corruption’

Russian state media for years has painted Ukraine as deeply corrupt, and has argued that the U.S. and its allies are wasting money and military hardware by assisting such an allegedly corrupt government.

“This is absolutely a line that they have pushed, and then once it appears in the Western ecosystem, other [Russian] media picks it up and it gets recycled back,” said Bret Schafer, a senior fellow at the Alliance for Securing Democracy.

This line of argument has gained traction partly because Ukraine does face a genuine corruption problem.

Russia’s effort to focus attention on corruption in Ukraine reflects a long-established propaganda method of using facts or partial truths to anchor a broader assertion or accusation, sometimes making a leap in logic, Schafer and other researchers said. Russia’s message amounts to: Ukraine is corrupt, therefore U.S. and Western aid will be stolen and wasted.

Schafer said it was ironic for Russia, a country mired in corruption and kleptocracy, to be leveling accusations about corruption.

Republican Rep. Mary Miller has said she strongly opposes more assistance for Ukraine because it amounts to sending cash to “corrupt oligarchs.”

“With Zelensky coming to DC this week to ask for more money, I will continue to vote AGAINST sending your tax $$ to corrupt oligarchs in Ukraine for a proxy war that could have ended in ‘22,” Miller wrote in a post on X in December.

The Illinois lawmaker also echoed another assertion that often appears in Russian media, that the Biden administration allegedly undermined efforts by Russia to avoid war with Ukraine.

 “A peace deal was on the table that [Ukraine] and [Russia] were both ready to sign, but Biden said NO,” she wrote.

There was in fact no proposed peace agreement that Russia and Ukraine were prepared to sign before Russia launched its full-scale invasion of Ukraine in February 2022, according to U.S. and European officials. As Russian troops massed on the border of Ukraine, Western governments urged Russia not to invade and warned there would be economic and diplomatic consequences.

Reuters has reported that Russian President Vladimir Putin rejected a possible deal to avert a war that had been discussed with Kyiv by Russia’s envoy to Ukraine. The Kremlin said the report was inaccurate and has said Russia tried for years to arrive at an understanding with Ukraine.

As for corruption in Ukraine, Zelenskyy has vowed to tackle the problem, sacking senior officials in some recent cases. But some civil society groups have criticized his approach and Ukrainians say corruption is the country’s second-most serious problem, after the Russian invasion, according to a poll conducted last year.

In an annual survey, Transparency International said Ukraine made progress toward addressing the issue and now ranks 104th out of 180 countries on its Corruption Perceptions Index , climbing 12 places up from its previous ranking.

Ukraine is not alone among countries that receive U.S. and other foreign aid but struggle with corruption. Supporters of assisting Ukraine argue it would undermine America’s influence in the world and its humanitarian efforts if Washington withheld foreign aid from every country where there were reports of corruption.

Miller’s office did not respond to a request for comment.

The Biden family and Ukraine

Republicans have repeatedly alleged that President Joe Biden and his son Hunter have corrupt ties to Ukraine, and that they sought $5 million in bribes from the Ukrainian energy company Burisma to protect the firm from an investigation by Ukraine’s prosecutor general.

There is no credible evidence for the allegations. A key source for the accusations against the Bidens is a former FBI informant, Alexander Smirnov, who was arrested in February on federal charges of fabricating the bribery claims. Smirnov says he was fed information by Russian intelligence.

Republicans had heavily promoted Smirnov’s allegations against the Bidens, seeing them as crucial to a planned impeachment effort against the president that has since fizzled .

“In my estimation, that is probably the clearest example of Russian propaganda working its way into the American political system,” said Emerson Brooking, a resident senior fellow at the Digital Forensic Research Lab of the Atlantic Council.

GOP Rep. Paul Gosar of Arizona cited the false bribery allegations in expressing his opposition to providing assistance to Ukraine.

“In exchange for … bribe money from Ukraine, Joe Biden has dished out over $100 billion in taxpayer money to fund the war in Ukraine. I will not assist this corruption by sending more money to the authoritarian Ukrainian regime,” Gosar said in a statement in October.

Gosar’s office did not respond to a request for comment.

Dan De Luce is a reporter for the NBC News Investigative Unit. 

Syedah Asghar is a Capitol Hill researcher for NBC News and is based in Washington, D.C.

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Italy Seizes Russian Oligarch's Yacht — Government

Italy said Friday that it seized the yacht of a Russian oligarch who is seen as close to President Vladimir Putin and is subject to EU sanctions.

"Italy's police has just seized 'Lady M Yacht', a 65 million euros ($70 million) vessel belonging to Alexey Alexandrovits Mordaschov located in Imperia (Liguria) — in compliance with the recent EU sanctions," Ferdinando Giugliano, a media adviser to Italy's prime minister, said in a tweet.

Steel magnate Mordashov owns Severstal group and is among the ultra-wealthy, influential Russians blacklisted by Brussels for their perceived closeness to the Kremlin.

Since Russia's invasion of Ukraine began on Feb. 24, the EU has moved to freeze the assets of connected oligarchs and bar them from entering the bloc.

Mordashov used a statement issued Monday to distance himself from Putin's war in Ukraine.

"I have absolutely nothing to do with the current geopolitical tensions and I don't understand why the EU has imposed sanctions on me," he said.

Italian media have reported that another yacht, the Lena owned by Gennady Timchenko, the billionaire co-founder of commodities trader Gunvor, has been seized in Sanremo.

The first yacht seized as a result of EU sanctions was the Amore Vero, snatched Thursday in the French port of La Ciotat. 

The mega-yacht belongs to a company linked to the head of Russian oil giant Rosneft. 

Yachts, symbols of the massive wealth accrued by Russia's elite, are among their overseas assets being targeted by Western sanctions. 

The EU sanctions target more than 500 Russian individuals or entities whose assets are to be traced and frozen.

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"We build homes that allow families to live in harmony"

G.EMME PROPERTIES SA holds the various real estate properties of the Mantegazza family on Swiss territory. It is active in the planning, buying, selling, renting and renovation of real estate and land.

The name of the company, G.EMME Properties SA, is a tribute to the founder of the Mantegazza Family, Engineer Geo Mantegazza. This choice reflects the fusion of a glorious past and a promising future: the letter ‘G’ evokes the initial of the pioneer founder’s name, while the ‘Emme’ represents the family surname, thus symbolising the continuity of tradition in the real estate sector.

G.EMME Properties SA was founded by their children Mario, Vicky and Anna Mantegazza.

With extensive experience in diverse fields ranging from real estate to the gastronomy, sports, publishing, business and tourism sectors, siblings Mario and Vicky Mantegazza hold the roles of President and Vice-President respectively within G.EMME Properties SA. Their presence lends a holistic vision, enriching the corporate fabric with a combination of talent, experience and dynamic perspectives.

After a rich international experience in London, Spain and New York, Mario Mantegazza has developed a wide range of multifaceted skills in the worlds of economics, politics and tourism. His path led him to settle in Lugano, where he enriched his expertise in the financial sector before giving life to his entrepreneurial vision by founding a communication company that embodies his passion for innovation and creativity. The renowned magazine Ticino Welcome and the prestigious Restaurant Meta, which has been awarded a Michelin Star and numerous other prestigious prizes and awards, are just two of the entrepreneur’s latest successes.

Mario Mantegazza

Vicky Mantegazza has been in the real estate business since 1985, following in her father Geo’s illustrious footsteps. After accumulating extensive experience as a real estate administrator, she took on the leadership of Immobiliare Mantegazza with authority and determination, initially as Director and later as President. During her tenure, she oversaw numerous major projects that contributed to the transformation of Lugano’s urban skyline, including Palazzo Mantegazza and Grand Palace.

In addition to her outstanding leadership in the real estate sector, Vicky Mantegazza is distinguished by her deep passion for sport. For twelve years, she skilfully led the Ladies Team of the HC Lugano, leading it to triumphs at national and international level. In 2011, she was awarded the role of president of the male team of the Hockey Club Lugano, confirming her role as a prominent figure in the sports panorama.

Vicky Mantegazza

Our roots go back as far as the 1950s, starting a successful path in the Swiss and international real estate business. Engineer Geo Mantegazza, a leading figure and enterprising pioneer, laid the foundation for what today constitutes the indelible legacy of the Mantegazza family.

An era of boldness and vision took shape when Geo Mantegazza, an engineering graduate from the ETH in Zurich, and his brother Sergio, set up Immobiliare Mantegazza, an initiative destined to mark an epoch in the family’s real estate activities.

The building activity is inaugurated with the construction of the first building at Riva Caccia 1 in Lugano, known for the iconic ‘Campari’ sign on the roof.

In the context of the patrimonial expansion, the inauguration of the second building owned by the esteemed family in Via al Chioso is celebrated.

Lugano’s skyline is enhanced by the Stabile Altavista, an elegant architectural structure offering a breathtaking view of the Gulf of Lugano. With its sophisticated design and quality finishes, this building combines tradition and innovation, guaranteeing an exclusive living experience.

The Stabile Aristorama, a testimony to elegance and refinement, is located in the Loreto district. Its flats offer an enchanting panoramic view of the picturesque Lake Lugano, conferring unparalleled value to this exclusive residence.

From the desire of Brothers Geo and Sergio Mantegazza, the elegant Palazzo Mantegazza project was born, an architectural work of art characterised by a unique design that fuses refinement, technology, and transparency in an expression of luxurious and refined modernity.

In May 2012, Immobiliare Mantegazza embarked on a new corporate phase, adopting the name ‘Immobiliare Mantegazza SA’ and becoming affiliated with SVIT, the renowned Swiss Real Estate Society. This fundamental step marks a significant advance in the evolution and growth of the company, confirming its commitment to professional management in the Swiss real estate sector.

In June 2015, Engineer Geo Mantegazza, together with his brother Sergio and the Albek and Garzoni families, successfully celebrated the inauguration of the Grand Palace renovation. This ambitious project marks the triumphant recovery of the ruins of the former Palace Hotel, masterfully transforming them into a sumptuous high-end residential palace, a symbol of luxury and prestige.

With enterprise and foresight, Geo Mantegazza’s children, Mario, Vicky and Anna, relaunched the family’s real estate business, founding G.EMME Properties SA. This new project not only consolidated the real estate assets, but also launched new initiatives and projects destined to shape the future of the sector.

Currently, in collaboration with the firm Garzoni, G.EMME Properties SA is dedicated to the renovation of the Ceresiana building, located on the enchanting shores of Lake Lugano. This ambitious project, first on the list of architectural interventions conceived by engineer Geo Mantegazza, embodies the company’s constant commitment to preserving and enhancing the family heritage through an innovative approach.

We are constantly looking for new investment opportunities.

We cordially invite you to contact us to engage in an in-depth discussion and jointly identify the most promising investment initiatives, already uploading a preliminary idea of your project.

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