Leonardo Del Vecchio is an Italian businessman. He is the chairman and the founder of Luxottica. It is the world’s largest manufacturer and retailer of frames and glasses. Leonardo Del Vecchio has a combined net worth of $35 billion.
Leonardo was the second richest man in Italy. His company has a total of 80k employees and has over 8k retail stores at home and abroad. He is the founder and the former chairman of the company named Luxottica.
Early life
Leonardo Del Vecchio was born in 1935 in Milan Italy to an impoverished family from Barletta in southern Italy. In 1961, he moved to Agoroda in the province of Belluno. which is home to most of the Italian eyewear industry.
Leonardo’s school life wasn’t very pleasant. He never finished his school life. Rather than going to school, he started his business at a very early age. Leonardo’s present history is unknown. Later, he is self-taught about marketing and business management.
Career
Leonardo started his career as a novice to a die and tool maker in Milan, but he turned his metalworking skills to make exhibition parts. In 1961, He started a new company called Luxottica, a limited partnership.
They went looking for more retail companies, acquiring Sydney-based OPSM in 2003, Pearle vision in 2004, Surfeyes in 2006, and Cole National in 2004. They acquired Oakley in a US$2.1 billion deal in November 2007.
With this significant achievement, In 1974, he acquired Scarrone, a distribution company. In 1981, the company set up its first international subsidiary in Germany. A licensing deal with the designer Giorgio Armani was settled in 1988.
Not only this company, but he was also the owner of 4 companies. In this session, we are going to discuss his share in this company. Leonardo is the owner of a 61.90% share of Luxottica. He also invested in a French real estate company and owns 28% of it.
Assicurazioni Generali is Italy’s biggest insurance company. Leonardo owns 3.17% of this company. Though the share is little, the company size is huge. Vecchio also owns a 10% stake in Italian investment Bank Mediobanca.
After listing in New York and Milan, this company enhanced the quality to achieve other brands, starting with US Shoe Corporation named Lenscrafters in 1995, with Italian brand Vogue in 1990 Persol, and Ray-Ban in 1999 and recently launched Sunglass Hut in 2001.
In 1967, he started making complete spectacle frames under the Luxottica brand, and in 1971 he entered the contract manufacturing business. The main company of Leonardo was listed in New York in 1990 and both in Milan in December 2000.
Leonardo Del Vecchio Net worth
Leonardo Del Vecchio has an estimated net worth of $35 billion. He earns his total revenue from this multinational company.
Leonardo Del Vecchio owns many companies and earned most of the revenue from these companies. The 62% share of Luxottica Group is held in his ownership. The company produces designs and sells eyewear.
Del Vecchio is the founder of Luxottica and also the owner of 100% of Delfin. Without the holding company Delfin, he also invested his worth in a real estate investment fund, an Italian insurer, an Italian bank, and an Italian acquisition company.
How Leonardo Del Vecchio make money?
There are many reasons for being a billionaire from a normal retailer businessman. This billionaire businessman makes an average of $100 million per year. Which is the annual combined revenue of these companies.
Del owns many companies like Luxottica, Delfin, Italian Bank, and many more. After summing the total revenue of these companies he has a huge amount of money he makes.
Personal life
Leonardo’s marital life is so diverse. He lives a happy life in Milan. Del Vecchio is married three times. He has six children. He has one son named Claudio Del Vecchio and two daughters, Marisa and Paola, from his first wife.
He married two times later. After his third marriage, he remarried his second wife in 2010.
With his second wife he had another son, Leonardo Maria; and with his third wife two sons, Luca and Clemente.
What is Leonardo Del Vecchio doing now?
This Italian Businessman officially announced his retirement from his responsibilities in the company. He lives a peaceful life in Milan. He spent his leisure time doing what he liked.
Leonardo Del Vecchio: At a Glance
| Full Name | Leonardo Del Vecchio |
| Birthdate | 22 May 1935 |
| Birthplace | Milan, Italy |
| Gender | Male |
| Age | 86-year-old |
| Nationality | Italian |
| Profession | Businessman |
| Net worth | $35 Billion |
Sources
- https://www.forbes.com/companies/luxottica-group/ Best company news.
- https://www.bloomberg.com/billionaires/profiles/leonardo-del-vecchio/ Billionaire Businessman.
