Del Vecchio Net Worth: When He Died, How Much Money Did He Have?

Leonardo Del Vecchio was a successful Italian businessman who was known as Del Vecchio. He passed away on June 27, 2022, having been born on May 22nd, 1935. He was the founder and chairman of the company Luxottica, which currently has more than 8,000 outlets and 77,734 workers. At the time of his passing, it was estimated that his net worth was $27.3 billion, which placed him in the position of being the second richest person in Italy and the 54th richest person in the world.

Del Vecchio Early Life 

On May 22, 1935, Leonardo Del Vecchio was born to a poor family from Barletta, which is located in the southern region of Italy. He was born in Milan, Italy.

Del Vecchio Net Worth

His mother was already a mother to four children when he was born, and his father had been a street seller before he was born. His father passed away before he was born. He spent his childhood at an orphanage.

Del Vecchio Career 

In Milan, where he began his career, he worked as an apprentice for a tool and die, maker. Later on, he decided to put his skills in metalworking to use by constructing components for spectacles. It was in 1961 when he made the transfer to Agordo, which is located in the province of Belluno and is the center of the eyeglass manufacturing business in Italy. The new company was given the name Luxottica s.a.s., and it operated as a limited partnership.

In 1967, he launched the company that would become known as Luxottica and began selling entire eyeglass frames. In 1971, he launched his career as a networker in the corporate world. 1974 was the year when he purchased the Scarrone distribution company. In 1981, the corporation established its first office outside of the United States in Germany, which became its first international location.

It was in the year 1988 when a licensing agreement was made with the fashion designer Giorgio Armani. The company went public for the first time in New York in the year 1990, and then again in Milan in the year 2000. It became a member of the MIB-30 index, which is now known as the S&P/MIB index, in September of 2003.

Del Vecchio Net Worth

After the initial public offering, the firm was able to acquire other brands, beginning with the Italian brand Vogue in the year 1990, followed by Persol, US Shoe Corporation (LensCrafters), Ray-Ban, and Sunglass Hut, Inc. They started looking for additional retail establishments that they could buy. Theypurchasedf OPSM, which was located in Sydney, in 2003.

They made their first acquisition, Pearle Vision, in 2004, and subsequently acquired Surfeyes and Cole National in 2006. They acquired Oakley for a total price of $2,100,000,000 in November of 2007. Del Vecchio owned a stake in the Italian investment firm Mediobanca that was equal to ten percent.

Personal Life

Del Vecchio was married multiple times. He was married and had a total of six children while residing in Milan. His first marriage resulted in the birth of three children: a son named Claudio Del Vecchio and two girls named Marisa and Paola. With his second marriage, he welcomed another son into the world named Leonardo Maria. With his third wife, he welcomed Luca and Clemente. In 2010, he wed the woman who would become his second wife.

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Del Vecchio Net Worth

Leonardo Del Vecchio was an Italian entrepreneur who amassed a significant fortune over his lifetime. When he passed away in June 2022, he had a net worth of $27.3 billion. Leonardo Del Vecchio is most known for founding and serving as the chairman of Luxottica, the world’s largest maker and reseller of eyeglasses and frame accessories.

Del Vecchio Net Worth

The corporation has more than 9,000 retail locations across the globe and employs more than 77,000 people in total. At the time of his passing, Del Vecchio was the wealthiest individual in Italy and one of the seventieth richest people in the entire world.

Del Vecchio Death

On June 27, 2022, Del Vecchio passed away at the San Raffaele Hospital in Segrate, which is located to the east of Milan. He had pneumonia. He had 87 years under his belt.

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His employer let everyone know in a statement that he had passed away recently. In a statement, EssilorLuxottica expressed its regret at having to report that its chairman had passed away and mentioned that the board of directors will be meeting to “find out what to do next.”

Frequently Asked Questions

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How Rich Is Leonardo Del Vecchio?

At the time of his death at the age of 87, eyewear magnate Leonardo del Vecchio, whose company owns Ray-Ban, Sunglass Hut, and other brands, left behind an estimated fortune of $25.5 billion as well as six children from three different relationships. This article was updated on June 27 and June 28, 202,2 to include commentary from a tax attorney in Luxembourg and representatives from Del Vecchio.

Who Is Italy’s Wealthiest Person?

2021: a total of $204,5 billion. It was once again Giovanni Ferrero’s family that made Nutella, Tic Tacs, and Kinder Eggs. At $36.2 billion, his net worth has increased by $1.1 billion in the last year alone.

When He Died, How Much Money Did He Have?

As well to its models, Luxottica produced frames for high-end labels like Armani, Chanel, Prada, and Bulgari. According to Forbes, Mr. Del Vecchio was the 52nd richest person in the world at the time of his death with a net worth of $27.3 billion.

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