Since 2004, Riccardo Illy has been Chairman of Gruppo Illy, the Illy family holding. Itcontrols illycaffè, Domori (high quality chocolate producer), Dammann Frères (French tea brand), Mastrojanni (wine farm of Montalcino) and has a share in Agrimontana (leader company in the production of top-of-the-line confectionery products, such as marron glacés and jams).
He is also Vicepresident of illycaffè .
From 2003 to 2008 he was President of the Regione Autonoma Friuli Venezia Giulia and in 2004 he was elected President of the Assembly of the European Regions.
In 2001 he was elected MP in the Italian Parliament.