Leonardo Del Vecchio (22 May 1935 – 27 June 2022) is an Italian billionaire businessman, chairman, and founder of Luxottica, with 77,734 employees. It was the world’s largest eyewear and frame manufacturer and retailer with more than one store. At the time of his death, his net worth is estimated at $ 24.1 billion, the second wealthiest in Italy and the 54th in the world. Leonardo Del Vecchio was born on May 22, 1935, in Milan, Italy, to a poor family in Barletta, southern Italy. His father was a vegetable street vendor who died before he was born, and his mother already had four children. He grew up in an orphanage. He started his career in Milan as an apprentice to a tool and mould maker but decided to focus his metalworking skills on the manufacture of eyeglass parts. In 1961 he moved to Agordo in the province of Belluno, where most of the Italian eyewear industry is based. The new company was Luxottica s.a.s., a limited liability company. In 1967 he started selling the complete frame under the Luxottica brand, and in 1971 he started outsourced manufacturing. In 1974, he acquired the distribution company Scarrone. In 1981, the company established its first overseas branch in Germany. A license agreement was signed with designer Giorgio Armani in 1988.
Del Vecchio Net Worth
At the time of his death, Delvecchio was ranked 52nd on Forbes‘ world billionaire list, with an estimated net worth of $ 27.3 billion. At the age of 87, eyeglass mogul Leonardo Del Vecchio, who owns Ray-Ban and Sunglass Hut, lost an estimated $ 25.5 billion in property and six children from three different relationships. Updated June 27 and 28, 2022 with comments from Delvecchio representatives and Luxembourg tax accountants. The death of Leonardo Del Vecchio, Italy’s second wealthiest man, means that his estimated $ 25.5 billion in property will be distributed among his heirs. The 87-year-old eyewear mogul is survived by his second wife, Nicoletta Zampillo, and six children in three different relationships between the ages of 18 and 65. Inheriting Del Vecchio’s Luxembourg holding company, Del Vecchio, and its $ 1 billion property, all seven could become billionaires.
ALSO READ: Samantha Strong Net Worth 2022 And Biography!
Del Vecchio Personal Life
Del Vecchio got married three times. He had a total of six children and he lived in Milan. Along with his first wife, he had his son Claudio del Vecchio and his two daughters, Marisa and Paola. Along with his second wife, he had another son, Leonardo Maria. And his third wife and two sons, Luka and Clemente. In 2010 he remarried his second wife. Del Vecchio died of pneumonia on June 27, 2022, at the age of 87 at the San Raffaele Hospital in Segrate, on the outskirts of eastern Milan. The company announces his death with a statement.
Del Vecchio Early Life
Del Vecchio grew up in an orphanage. His father was a vegetable street vendor, who died before Leonardo was born. He was 14 years old and after he was an apprentice as a metal sculptor, he moved to a workshop to make parts for eyeglass frames. The company was listed in New York in 1990, in Milan in December 2000, and was included in the MIB-30 Index (now S & P / MIB) in September 2003. The listing gives the company the ability to acquire other brands such as the Italian brand Vogue in 1990, Persol and US Shoe Corporation (LensCrafters) in 1995, Ray-Ban in 1999, and Sunglass Hut in 2001 and Inc. It has been strengthened. A retail company that acquired OPSM based in Sydney in 2003, Pearle Vision in 2004, Surfeyes in 2006, and Cole National in 2004. They acquired Oakley in November 2007 with a $ 2.1 billion transaction. Del Vecchio held a 10% stake in the Italian investment bank Mediobanca.
Del Vecchio Career
Del Vecchio was born in poverty. His father, who sold his fruits and vegetables, died at an early age, and his mother couldn’t afford to raise him, so he entered an orphanage in Milan at the age of seven. Leonardo Del Vecchio is ranked 71st on Forbes’ Global Wealth List and is the second wealthiest man in Italy. He is the president and founder of a world-leading company in eyewear development, manufacturing, marketing, and distribution. The company is none other than Luxottica. They manufacture their own eyewear and are world leaders in the eyewear industry. Leonardo Del Vecchio, a successful homebrew businessman, has a net worth of $ 11 billion.
READ MORE: Rachel Bernard Net Worth 2022 And Biography!