Fratello maggiore del celebre stilista Gianni Versace e di Donatella Versace, è presidente e amministratore delegato della Gianni Versace Spa. Nel 1992 è tra i fondatori di Altagamma (Associazione delle Imprese Italiane di alta gamma), di cui è tuttora presidente fondatore. Alle politiche del 2008 viene eletto alla Camera dei deputati per la lista del Popolo della Libertà in Calabria. L'8 novembre 2011, è uno dei deputati della maggioranza che non vota il Rendiconto Generale dello Stato 2010 portando alla crisi del Governo Berlusconi IV e alle dimissioni del premier. Il 12 novembre, durante la votazione della legge di stabilità, annuncia di aderire ad Alleanza per l'Italia.
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