Leonardo Del Vecchio was an Italian businessman who made a lot of money. He was born on May 22, 1935, and died on June 27, 2022. He was the founder and chairman of Luxottica, which has 77,734 employees and more than 8,000 stores. When he died, his net worth was estimated to be $27.3 billion, making him the second richest person in Italy and the 54th richest person in the world.
|Net Worth:||$27.3 billion|
|Born:||May 22, 1935|
|Country of Origin:||United States of America|
|Source of Wealth:||Italian Businessman|
Del Vecchio Early Life
Leonardo Del Vecchio was born in Milan, Italy, on May 22, 1935, to a poor family from Barletta, in southern Italy.
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His mother already had four kids when he was born, and his father was a street vendor who died before he was born. He grew up in an orphanage.
Del Vecchio Career
He started out as an apprentice for a tool and die maker in Milan. Later, he decided to use his metalworking skills to make parts for eyeglasses. In 1961, he moved to Agordo, which is in the province of Belluno and is where most of the eyewear industry in Italy is. Luxottica s.a.s., a limited partnership, was the name of the new business.
In 1967, he started selling complete eyeglass frames under the brand name Luxottica. In 1971, he went into the business of making contacts. In 1974, he bought a distribution company called Scarrone. In 1981, the company opened its first branch outside of the United States in Germany.
In 1988, a licensing deal was set up with the designer Giorgio Armani. The company went public in New York in 1990 and in Milan in December 2000. In September 2003, it joined the MIB-30 index, which is now called the S&P/MIB index.
The company was able to buy more brands after going public, starting with the Italian brand Vogue in 1990, then Persol, US Shoe Corporation (LensCrafters), Ray-Ban, and Sunglass Hut, Inc. They started looking for more retail businesses to buy. In 2003, they bought OPSM, which was based in Sydney.
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In 2004, they bought Pearle Vision, and in 2006, they bought Surfeyes and Cole National. In November 2007, they paid $2,100,000,000 to buy Oakley. Del Vecchio had a 10% stake in the Italian investment bank Mediobanca.
Del Vecchio had four marriages. He lived in Milan and had a total of six children. His first wife gave him a son, Claudio Del Vecchio, and two daughters, Marisa and Paola. He had another son, Leonardo Maria, with his second wife, and Luca and Clemente with his third wife. In 2010, he married his second wife.
Del Vecchio Net Worth
Leonardo Del Vecchio was an Italian businessman who made a lot of money and died in June 2022 with a net worth of $27.3 billion. Leonardo Del Vecchio is best known as the founder and chairman of Luxottica, the biggest manufacturer and retailer of glasses and frames in the world.
The company has more than 9,000 stores all over the world with more than 77,000 employees. Del Vecchio was one of the 70 richest people in the world and the richest person in Italy at the time of his death.
Del Vecchio Death
Del Vecchio died of pneumonia on June 27, 2022, at the San Raffaele Hospital in Segrate, an area east of Milan. He was 87 years old. In a statement, his company told people that he had died. EssilorLuxottica said in a statement that it was sad to report that its chairman had died and that the board would meet to “figure out what to do next.”
Frequently Asked Questions
How Much Money Did He Have When He Died?
Luxottica made frames for Giorgio Armani, Chanel, Prada, and Bulgari, among other high-end brands, as well as its own models. At the time of his death, Mr. Del Vecchio was the 52nd richest person in the world, according to Forbes, which put his net worth at $27.3 billion.
How Rich Is Leonardo Del Vecchio?
Del Vecchio grew up in poverty, but now he owns brands like Ray-Ban and Oakley through his eyewear empire. Forbes' 2022 World's Billionaires List says that his wealth was worth about $27.3 billion. Del Vecchio gave glasses an Italian style, which helped him become one of the richest people in Europe.
Who Is the Richest Person in Italy?
$204.5 billion in 2021. Giovanni Ferrero, whose family made Nutella, Tic Tacs, and Kinder Eggs, is once again Italy's richest person. He is worth an estimated $36.2 billion, which is $1.1 billion more than he was worth a year ago.
Leonardo Del Vecchio was successful and well-known in Italy and around the world. In his career, he had a lot of praise for how well he did. Leonardo Del Vecchio was the most successful person in Italy and the second richest person in Italy. He started a company that makes and sells the most glasses and frames in the world. This company is called Luxottica. Leonardo Del Vecchio had a lot of fans who looked up to and followed him.