After two years of condo living in downtown Birmingham, Chrysler and Fiat CEO Sergio Marchionne decided to buy a custom-built home in northern Oakland County, for the price of $3.9 million.
The decision came at a time when Chrysler workers and the business community where would be new global Chrysler and Fiat headquarters located and if its location could be in Auburn Hills. In July 2011, Marchionne was named chief operating officer of the North American region and in September he became chairman of Chrysler in September when the company revamped its board of directors. His plan is to merge Fiat and Chrysler by the end of 2014 as part of a strategy to forge a single global automaker with annual sales of more than 6 million.
Marchionne also has a house in Geneva, Switzerland and an apartment in Turin, Italy, near Fiat’s headquarters. The 9,000-square-feet home in Birmigham was listed at $5.5 million in 2010. It has 6 bedrooms and bathrooms and sits on 2 acres with lake frontage. Marchionne’s new home was built in an old-world style, has water on three sides, and was sold fully furnished. The home has a two-story great room, six fireplaces, two gourmet kitchens and a lower level with a theater room, among other amenities.