Paolo Vitelli, the founder of Azimut Yachts, has died at the age of 77 on Dec. 31, 2024, following an at home accident. Vitelli founded Azimut Yachts in the 1960s and later acquired Italian builder Cantieri Benetti, creating the Azimut|Benetti Group. Vitelli was the president of the Azimut|Benetti Group while his daughter, Giovanna, has been chair of the group since 2023. Originally born in Turn, Italy, in 1947, Vitelli founded Azimut at just 21 years old. Vitelli was at his residence in Ayas, a hamlet of Mascognaz in Valle d’Aosta in Italy at the time of his death. The Azimut|Benetti Group has yet to release a statement on Vitelli’s death.