As of January 2020, Del Vecchio had a net worth of $25.8 billion, making him the richest man in Italy, and the 50th richest in the world. Mauro Calderan. In 2017, meanwhile, he sold the AC Milan football club (of which he had retained ownership for 31 years) to a Chinese investment group for €740 million ($835.5 million/£640.2 million). Leonardo Del Vecchio's eyewear giant Luxottica announced plans to merge with French lens manufacturer Essilor in January 2017, putting Luxottica's octogenarian founder at the helm of what will be the world's largest producer and retailer of sunglasses and prescription glasses. 6 (Claudio, Clemente, Leonardo, Marisa, Luca and Paola) About Leonardo Del Vecchio Leonardo Del Vecchio is an Italian businessman. Last spring he inked a long-term deal with Scotland’s celebrated St. Andrews Links golf course to produce a line of golfwear. Thomas Keneally salary income and net worth data provided by People Ai provides an estimation for any internet celebrity's real salary income and net worth like Thomas Keneally based on real numbers. Caffeine aficionados will likely be familiar with De’Longhi coffee, of which Giuseppe – president of parent company De’Longhi SpA – is in charge. Many of the names on this list have had to work hard to reach the top, however. Estimated net worth: $3.8 billion (£2.9 billion). I enjoy challenges.”. So, if you’re wondering who has amassed the biggest fortune, then read on – here are the 10 richest Italians, according to Forbes. Del Vecchio owns more than 62% of the shares in Luxottica. “He was able to understand the heritage of Brooks Bros. and go back into its archives…to use the past and translate it to the present and the future.”, Bill Roberti, a former Brooks Bros. ceo, remembers Del Vecchio’s passion for the brand when he negotiated the eyewear license with Luxottica. As you will see, these billionaires and business tycoons come from all types of backgrounds, having found success in industries as diverse as confectionery, eyewear and designer goods. Estimated net worth: $22.4 billion (£17.2 billion) Claudio del Vecchio's siblings: Claudio del Vecchio's sister is Paola del Vecchio Claudio del Vecchio's half-brother is Leonardo Maria del Vecchio Claudio del Vecchio's half-brother is Luca del Vecchio Claudio del Vecchio's half-brother is Clemente del Vecchio His awareness of Brooks Bros. came long before that, though. Last year he ranked 59th on the Forbes billionaires list, which put the senior Del Vecchio’s net worth at $10.5 billion. Today, the retailer operates more than 116 full-price and 101 factory outlet stores in the U.S. and some 175 stores in other countries, with the highest concentration in Japan (77), China (32), Hong Kong (13) and the U.K. (4). But Del Vecchio’s life took a sharp turn after 1995, when Luxottica acquired U.S. Shoe, which owned the LensCrafters retail chain. This story first appeared in the March 21, 2011 issue of WWD. Leonardo Del Vecchio Net Worth Leonardo Del Vecchio was born on May 22, 1935 in Milan, Italy, Italy. “I admire much of what he has been able to accomplish.”, No doubt his boldest accomplishment was the launch of Black Fleece, a collection that combined classic Brooks Bros. fabrics and tailoring with the edgy, shrunken silhouette of Thom Browne. Summary: Debra Delvecchio is 63 years old and was born on 10/12/1957. Terms of Use. As the co-owners of confectionary giants Perfetti Van Melle, brothers Augusto and Giorgio Perfetti are responsible for providing the world with a number of renowned products; Mentos, Fruittella and Chupa Chups (acquired in 2006) are all now produced under the Perfetti Van Melle umbrella. Estimated net worth: $7.4 billion (£5.7 billion). Fashion Looks to Washington With Horror and Hope, After D.C. The two brothers – who are both notoriously media-shy – now live in Switzerland and maintain no involvement in the day-to-day running of the business. ©2020 DeltaQuest Media. Leonardo Del Vecchio—raised in an orphanage because his widowed mother couldn’t afford to support him—is the founder of Luxottica, the world’s largest eyewear company. As of January 2020, Del Vecchio was estimated by Forbes to have a net worth of $25.8 billion, making him the second richest man in Italy, and the 50th richest in the world. VP/Chief Marketing Officer. Since then, the company has acquired some of the biggest eyewear companies in the world, including Ray-Ban, Oakley and Sunglass Hut, while they continue to make frames for designer brands such as Armani, Bulgari and Chanel. “After that, most of the other [interested] companies disappeared, and we ended up paying less than we thought we would,” Del Vecchio says. Indeed, the combined total of these 10 fortunes alone is $94.7 billion (£72.9 billion)! Under Giuseppe’s charge, the company has struck successful distribution and manufacturing deals with other market giants, such as Kenwood and Braun, while the family line looks safe; son Fabio is the company’s current CEO. The grandsons of industrialist Agostino Rocca, Paolo and Gianfelice Rocca are the current stewards of the Techint Group, a multinational conglomerate with interests in construction, engineering, healthcare, energy and steel production. As the widow of pharmaceuticals magnate Alberto Aleotti, Massimiliana – along with their children Lucia and Alberto Giovanni – inherited control of the influential Menarini Group in 2014, with Massimiliana retaining overall ownership. Why was he so in love with it when he could buy anything he wanted?”, When Del Vecchio arrived in the U.S. in 1982, he says, “the first store I visited was Brooks Bros.…I used to shop in Façonnable in Monaco, which was very inspired by Brooks Bros., so it was a natural step up. By now, the answer is unmistakable: Not only did old customers return, but Del Vecchio also found new ones—especially overseas. “From Day One, we knew that the benefit from adding systems and improving the sourcing could justify the acquisition,” he says. Leonardo Del Vecchio is married with six children and his son Claudio owns US men's retailer Brooks Brothers, which licenses glasses from Luxottica. Del Vecchio's father peddled vegetables on the streets of Milan and died before he was born. © Copyright 2021 - Penske Media Corporation. At 22, he was charged with heading Luxottica’s sales force in Italy, and two years later he was sent to Germany to establish the company’s first direct foreign distribution. Estimated net worth: $3.5 billion (£2.7 billion). “Claudio has truly embraced the heritage of Brooks Bros.,” the designer says, “and evolved the brand and business in a very respectful way.”. Claudio Del Vecchio. For an Italian to turn around an iconic but declining American brand could be the ultimate men’s wear business challenge. Since 2016, the 54-year-old has relinquished his position as Ferrero’s CEO and now oversees the company’s long-term strategy as executive chairman. Built entirely upon a secret cocoa-hazelnut recipe called Pasta Gianduja – or, as the rest of the world now calls it, Nutella – the Ferrero empire is a global multibillion-dollar venture that is currently headed up by Giovanni Ferrero, the grandson of company founder Pietro. But, despite his low-key manner, Del Vecchio, 52, doesn’t have a go-with-the-flow disposition. Since 2005, the brand has also diversified into luxury hotels, including a flagship hotel at the Burj Khalifa in Dubai. “It had no distribution there,” he says, “but Gianni Angeli, the chairman of Fiat, was a customer and he was considered a fashion icon. Brooks Brothers Inc. This bit of backstory often stuns those who hear it after they meet Claudio Del Vecchio, whose personal style—sometimes slightly rumpled, always down to earth—doesn’t hint at great wealth. Originally set on attending design school, Del Vecchio instead utilised his metalworking skills to start a spectacle-making business, creating the now-legendary Luxottica in 1967. Brembo / BloombergPaolo (left) and Gianfelice Rocca, Estimated net worth: $4.1 billion (£3.2 billion). He became the 38th richest man in the world in the year 2014. So, clearly, does Del Vecchio. Under Giovanni’s astute leadership, the company has since added several Nestlé brands, as well as numerous confectionery brands in the North American market, to this impressive portfolio. Claudio Del Vecchio grew up in Milan, the oldest of six children of Leonardo Del Vecchio, the self-made billionaire founder of the Italian eyewear giant Luxottica Group. Giovanni Ferrero. In fact, experimentation is an integral part of the brand’s tradition. By subscribing, you agree to our If most of the billionaires on this list were given a rather large helping hand by their parents, then consider the case of Leonardo Del Vecchio. “I don’t want to become the world’s biggest company, or even a really big company.” Although $1 billion is an impressive milestone, it pales next to retail giants such as Macy’s ($25 billion) or Men’s Wearhouse ($2 billion). Indeed, with Del Vecchio as president and chief executive officer, Brooks Bros. has undergone more rapid changes than at any other period in its history. Still, turning the business around would mean a massive overhaul. Material may not be published, broadcast, rewritten or redistributed without a link to the original content. And the yacht is not listed for sale. “We were the first foreign company to go public in the U.S. before we went public in our own country,” he notes. Where does he work? Like his father, Del Vecchio worked hard and rose through the ranks, starting at a Luxottica factory when he was 14, and then joining the company full-time after two years of college and an obligatory hitch in the Italian army. Now 83 and currently living in Milan, Del Vecchio still serves as the executive chairman of Luxottica, while his son Claudio is CEO of the prestigious Brooks Brothers clothier. 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