This young man may be elected the abbot general and the Abbot of the Abbey of Monte Oliveto Maggiore of the Olivetan Benedictines at some point. The abbot general is also appointed by the pope as the territorial abbot of this monastery, hence the magenta skull cap.
The Benedictine monks of Mount Olivet in Tuscany function as a congregation more than in a "traditional" Benedictine manner in that there's a major religious superior who can move monks from one monastery to another, among other things that make the Olivetans.
As you see, the symbol of the abbot general's office fits the boy well enough. A budding Benedictine!
Saint Benedict and Saint Bernard Tolomei, pray for us.