 He was known as "the editor prince," referring to his aristocratic birth and elegant manner.The oldest of three children, Caracciolo was born in Florence to Filippo Caracciolo, 8th Principe di Castagneto, 3rd Duca di Melito and American heiress Margaret Clarke.He was an older brother to Marella Agnelli, the wife of Fiat chairman Gianni Agnelli and half-sibling of film producer Ettore Rosboch von Wolkenstein (whose daughter Bloomberg journalist Elisabetta "Lili", Carlo's goddaughter, married Prince Amedeo of Belgium, Archduke of Austria-Este).