He is one of the founders and former president of NTV, an Italian company which is Europe's first private open access operator of 300 km/h (186 mph) high-speed trains.

[1] In 2009, Montezemolo founded Future Italy, a free market think tank that joined Civic Choice in the 2013 Italian parliamentary election.

His uncle, Admiral Giorgio Cordero dei Marchesi di Montezemolo (1918–1986) was a commander in the Regia Marina in World War II.

In 1982, Montezemolo managed the America's Cup challenge of Team Azzurra, the first Italian yacht club to enter the event.

Under Montezemolo and executive director Jean Todt, the Ferrari Formula One team won the World Drivers' Championship in 2000, the first time since 1979.

Montezemolo has often been reported to have aspirations of a career in Italian politics, most recently the office of prime minister, but has always denied the rumours.

[6] On 29 July 2008, Montezemolo founded the Formula One Teams Association (FOTA) which he presided over from 2008 to 2010, eventually being replaced by McLaren CEO Martin Whitmarsh.

In 2012 Montezemolo was issued a suspended sentence of one year imprisonment by the court in Naples for the unauthorized construction of his personal residence in Anacapri, Italy.