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Tod's Billionaire Chairman Della Valle On Saving Rome's Colosseum

This article is more than 9 years old.

Diego Della Valle took a small shoe factory his grandfather started and turned it into global shoe- and purse-maker Tod's S.p.A., sharing the multi-billion dollar fortune with his brother. Diego is the company's chairman and public face, and is now trying to change the face of philanthropy in Italy, a nation where private giving is low compared to the U.S. His biggest project to date: saving Rome's Colosseum.

Forbes Insights spoke with Della Valle about his philanthropic goals as part of our broader look into global private giving, 2014 BNP Paribas Individual Philanthropy Index—Philanthropic Journeys: The Importance of Timing. His work in preserving cultural heritage is one of the top three causes for European philanthropists. Della Valle pledged $33 million to fund renovations at Rome’s crumbling Colosseum.

Here is more of our interview with Della Valle:

Forbes Insights: How urgent is the need for philanthropy right now? (On a scale of 1 to 10, with being not urgent and 10 being extremely urgent)

Della Valle: Certainly 10.  It would be nice to replicate the Anglo-Saxon model also in Italy. Unfortunately, in Italy, we're still far behind from this, even if there are entrepreneurs who  are trying to change things up with concrete actions.

Forbes Insights: What do you see as the reasons for this urgency?  What do you consider the most urgent focus/needs for philanthropy right now?

Della Valle: In Italy, the culture issue is very urgent. Over 50% of the world's cultural heritage is in our country, but more than often it is left to decay. Besides being an important economic resource, we have the duty to protect this heritage for everyone.

Forbes Insights: Where is the most urgent need for philanthropy in the world as a whole, or in your particular country or region?

Della Valle: I think that we need to preserve our cultural heritage all over the world. It 'a duty that we owe to our children.

Forbes Insights: Where are you on your philanthropic journey?

Della Valle: My goal is to devote more and more time and energy to solidarity actions. Competitive companies in the world have to give back some of the fortune they have achieved in their own country. It has to be an honor and a duty to intervene concretely helping as much as you can. There’s no need of big investments: if everyone could do something, it would be a great success.

Forbes Insights: How does the current state of your own wealth affect your giving?

Della Valle: Of course my position allows me to make larger investments but, as I said before, it is not a question of money but of mentality.

Forbes Insights: How would you describe the conditions for philanthropy in your country? And what is changing, if anything? Do current government policies promote it?  Are there good structures and organizations? Do you feel there are enough resources to help philanthropists in their giving?

Della Valle: In our country we are not accustomed to this kind of initiatives, especially because people always think of an economical return. Maybe after the restoration of the Colloseum something will change, since there is also a legal emptiness that must be filled. Many businessmen want to give, in addition to money, also their energy and their international experience to improve situations where the state doesn’t intervene. The intervention of private citizens in cultural initiatives must be supported by the government and not obstructed, ensuring the creation of new jobs and a real economic recovery.

Forbes Insights: Based on your experience, is it easier today to enter Philanthropy and why?

Della Valle: Nothing is difficult if you really want to do something.

Forbes Insights: Have you moved donations from one cause or geographic area to another and why?  Have you changed priorities or areas of focus for your philanthropy due to current events? How so?

Della Valle: From spring 2013, we approved an initiative: 1% of the net profit of the group will be allocated to activities in support to associations and difficult situations especially concerning old people, young children and the geographical areas where the our factories are located. I’m talking about Marche, the Region where I was born and raised and where I have developed my business. I think it’s important that big companies support the local environment trying to create a serene atmosphere that allows employees to give their best.

Forbes Insights: Has this been an active year for you in terms of philanthropy?  How and why?

Della Valle: Let's say that I am very happy that after almost 3 years, the works of the restoration of the Colosseum, that we sponsored through a donation of 25 million Euros, finally started.

Forbes Insights: How fast do you want to see the results?

Della Valle: I wish I could see them tomorrow!