Leonardo Del Vecchio, an Italian entrepreneur, died on June 27 at the age of 87. He was the executive chairman of EssilorLuxottica, which confirmed his death and noted that the board would convene shortly to discuss what to do next. According to some accounts, his six children might become millionaires if they inherit and start controlling his firm Delfin and its assets.
Leonardo Del Vecchio’s net worth
Leonardo Del Vecchio rose to prominence as the founder and chairman of Luxottica, an eyeglasses company with 77,734 workers and 8,000 outlets. As of November 2023, Del Vecchio’s net worth is estimated to be approximately $33 billion by CelebrityNetWorth. Given that he was a billionaire, he amassed a substantial amount of fortune via several endeavors. Luxottica rose to prominence in 1990 and raised a lot of money via its stock offering. It has bought and purchased a number of brands, including Vogue Eyewear, Sunglass Hut, Pearle Vision, Cole National, and others.
Their largest acquisition was in 2007, when they paid $2.1 billion for Oakley, although the brand was eventually removed from their shops. With a 61.9 percent stake in Luxottica, Del Vecchio held the majority of the company. He also held 28% of the real estate investment firm Covivio, 10% of the investment bank Mediobanca, and 31.7 percent of the insurance firm Assicurazioni Generali.
Everything there is to know about Leonardo Del Vecchio
Leonardo Del Vecchio was born on May 22, 1935, into an impoverished household. His father was a vegetable seller who died before his birth. His mother had four children, who were all reared in an orphanage. His first work was as a tool and die maker’s apprentice, where he learned a few skills and utilized them to build spectacle pieces.
In 1961, he relocated to Agordo, which was the center of the Italian eyeglass business. In 1967, he started selling sight frames under the Luxottica brand, and in 1971, he entered the manufacturing industry. In 1974, he acquired Scarrone, a distribution firm that established its first foreign affiliate in Germany in 1981.
In 1988, Leonardo signed a license agreement with designer Giorgio Armani. In 1990, the firm was listed in New York, then in 2000, it was listed in Milan, finally reaching the MIB-30 index in 2003. The listing enhanced its capacity to buy additional brands, beginning with Vogue and expanding to numerous more well-known businesses. They later purchased more firms such as OPSM, Pearle Vision, Surfeyes, Cole National, and others. Del Vecchio leaves behind his wife, Nicoletta Zampillo, and six children: Claudio, Marisa, Paola, Leonardo, Luca, and Clemente. He was married three times, but the identities of his wives are unknown.
