Leonardo Del Vecchio Net Worth
Leonardo Del Vecchio net worth: Leonardo Del Vecchio is an Italian businessman who has a net worth of $20 billion. Leonardo Del Vecchio is the founder and chairman of Luxottica, the world's largest producer and retailer of sunglasses and prescription glasses. Luxottica's US chains include Sunglass Hut and LensCrafters, as well as brands like Ray-Ban and Oakley. With the growth of the middle class in emerging markets like China, Luxottica's customer base grew as well. This made company's share price go up along with Del Vecchio's net worth. Before becoming the 2nd richest person in Italy, Del Vecchio had a pretty tough life, being sent to orphanage at a young age of 7 after his father died. He made his career beginnings as an apprentice at a Milan-based factory, which was a tool and dye maker. In 1961 he moved to Agordo, where he started selling complete eyeglass frames under the Luxottica brand. Doing good in his business, he eventually created the Luxottica company, which now has 65,000 employees, owns 7,100 optical and sun-glass retail stores. Leonardo Del Vecchio is married with six children and his son Claudio owns US men's retailer Brooks Brothers, which licenses glasses from Luxottica.
Net Worth details: Leonardo Del Vecchio owns a 61.4 percent stake in Luxottica Group. The company designs, produces, and sells high end eyewear. Through the holding company Delfin he also owns stakes in a real estate investment fund, an Italian insurer, an Italian bank, and an Italian acquisition company. Del Vecchio is the founder of Luxottica and is credited with 100 percent of Delfin. Luxottica is the world's largest eyewear retailer and had revenue of $9.6 billion in 2016.