For nearly a decade, Chiara Ferragni and Fedez—collectively known as “The Ferragnez”—represented the gold standard of the creator economy.

With a combined following of over 45 million, a hit Amazon Prime reality series, and a portfolio of multi-million euro businesses, they were the undisputed king and queen of Italian pop culture.

However, the fairy tale has officially ended. What began as a legal scandal involving a Christmas cake has spiraled into a high-profile divorce, business liquidations, and a total reconfiguration of the Italian influencer landscape.

As a veteran news editor who has tracked their rise from “The Blonde Salad” to global ubiquity, here is the definitive report on the collapse of the Ferragnez empire.

What Happened with Chiara and Fedez? Divorce Update

The separation of Chiara Ferragni and Federico Leonardo Lucia (Fedez) was the “split heard ’round the world” in early 2024.

While the couple initially attempted to project a united front during Fedez’s health battles with pancreatic cancer in 2022 and 2023, the internal friction became insurmountable by February 2024.

Chiara and Fedez are officially divorced. The proceedings were notoriously complex, involving the division of significant real estate assets, including their ultra-modern penthouse in Milan’s CityLife district and their villa on Lake Como.

The primary cause for the split, according to insiders, was the “asymmetry of crisis.” When Chiara’s legal troubles began in late 2023, Fedez reportedly felt blindsided by the potential impact on his own brand, leading to a breakdown in communication.

Conversely, Chiara has hinted in rare interviews that she felt abandoned during her darkest professional hour.

Today, they maintain a strictly “co-parenting” relationship for their two children, Leone and Vittoria, though they are rarely seen together in public.

The Downfall of Chiara Ferragni: The “Pandoro-gate” Scandal

If you ask any analyst what triggered the downfall of Chiara Ferragni, the answer is unanimous: Pandoro-gate.

In December 2023, the Italian Antitrust Authority (AGCM) fined Ferragni’s companies nearly €1.1 million for “unfair commercial practices” related to a charity collaboration with the cake brand Balocco.

The campaign led consumers to believe that purchasing a designer Pandoro (a traditional Italian holiday cake) would directly result in a donation to a bone cancer hospital in Turin.

In reality, Balocco had made a fixed-fee donation months earlier, while Ferragni’s companies reportedly pocketed over €1 million for the branding.

The fallout was catastrophic:

• Brand Exits: Global giants like Coca-Cola, Pantene, and Safilo (eyewear) suspended or terminated their contracts with Ferragni almost immediately.
• Legal Scrutiny: The “Pandoro” case opened a Pandora’s box of investigations into other “charitable” collaborations, including Easter eggs and dolls, leading to a broader loss of public trust.
• The “Chiara Law”: The scandal was so significant that the Italian government passed new transparency laws for influencers, colloquially known as the “Ferragni Law,” mandating clear disclosures for any commercial activity linked to charity.

What is Happening with Chiara Ferragni Now?

In 2026, Chiara Ferragni is in a “reconstruction phase.” She has largely stepped back from the “luxury influencer” persona and is attempting to re-emerge as a serious entrepreneur.

She has undergone a major corporate shake-up, bringing in new management to oversee Fenice Srl and TBS Crew, the companies behind her brand.

While she is no longer the undisputed queen of the Italian digital space—having lost millions of followers and significant prestige—she has focused on a more “humanized” content strategy, discussing her mistakes and her journey as a single mother.

Her comeback attempt has been met with mixed reviews; while loyal fans remain, her “Expertise and Trustworthiness” rating among premium luxury brands remains significantly lower than its 2022 peak.

Wealth Comparison: Who is Richer, Fedez or Chiara?

Before the 2024 crisis, Chiara Ferragni was undeniably the wealthier of the two. In 2023, her business empire was valued at nearly €100 million, with personal earnings far outstripping those of her husband.

However, the 2024-2026 period has seen a shift in their financial dynamics:

• Chiara Ferragni: While still a multi-millionaire, her net worth has taken a massive hit due to legal fines, lost contracts, and the declining value of her brand’s licensing power. Experts estimate her current liquid net worth has dropped by approximately 30-40% since the scandal.
• Fedez: While his net worth is lower (estimated between €15 million and €25 million), his income streams have proven more resilient. Through his podcast Muschio Selvaggio, his music career, and his talent agency Doom, Fedez maintained a steadier revenue flow because his brand was less dependent on the “perfection” that Chiara’s brand required.

Chiara Ferragni is still technically richer in terms of total assets and real estate, but Fedez holds the stronger “active” earning potential as Chiara continues to struggle with the commercial stigma of her legal past.