Leonardo Del Vecchio Net Worth

What is Leonardo Del Vecchio Net Worth?

Leonardo Del Vecchio Net Worth is US$ 27.3 Billion as of January 2023.

Biography

Leonardo Del Vecchio was the founder and chairman of Luxottica; his luxury chain runs brands such as Ray-Ban, Sunglass Hut, Oakley, Lens Crafters, etc. He was raised in an orphanage but became a billionaire with innovative marketing skills and creative thinking. He decided to use his metalworking skills to make spectacle parts after beginning his career as an apprentice to a tool maker in Milan. He moved to Agido in the province of Belluno in 1961, where most of the eyewear industry in Italy is located. At the age of 25, Del Vecchio established Luxottica in 1961. Under his leadership, it grew to produce glasses for every brand, including Bulgari and Chanel, acquiring Sunglass Hut, Ray-Ban, and Oakley. Leonardo Del Vecchio was the second richest Italian in 2022. He was ranked 54^th richest person in the world in 2022.                         

Timeline

Early Life

Leonardo was born to a poor Milanese family on May 22, 1935. His father was a fruit and vegetable vendor but died before Leonardo’s birth. His mother already had 4 children; she could not grow Leonardo independently, so she admitted him to the orphanage. Unfortunately, his childhood was not better. When he was 14, circumstances forced him to work to help his low-income family. His first job was as a trainee at a tool manufacturer in Milan. At 19, he began attending evening classes to study industrial engineering while continuing to work during the day. Martinitt, his orphanage, was also where he finished his early education. He then completed his secondary education at Brera Academy.

Career

In 1967, Leonardo Del Vecchio started selling Luxottica frames as a whole, and in 1971, he started making contacts. Soon after, his company also started making contact lenses. Scarrone, a distribution company, was later purchased by him. He opened stores all over the place as the business grew. After acquiring several businesses, Luxottica began producing eyewear under brands such as Vogue, Sunglass Hut, and others. He received the distribution company Scarrone in 1974. The first international subsidiary of the Company was established in Germany in 1981. Leonardo then settled a licensing deal with designer Giorgio Armani in 1988.

The Italian Republic’s president gave Leonardo Del Vecchio the “Cavaliere del Lavoro” title in 1986. He was awarded an honorary degree in Business Administration from the Ca’ Foscari University of Venice in May 1995. He received an honorary degree in Managerial Engineering from the University of Udine in 2002 and a Master of International Business in 1999 from MIB – Management School in Trieste. Leonardo Del Vecchio was awarded an additional honorary degree in Materials Engineering from Politecnico di Milan in March 2006. The company joined the MIB-30 index in 2003 after being listed in New York in 1990 and in Milan in 2000.

The listing enabled the Company to acquire additional brands, beginning in 1990 with the Italian fashion brand Vogue. Personal formed a partnership with the US Shoe Corporation (Lens Crafters) in 1995; Ray-Ban, in 1999; Sunglass Hut, Inc. acquired OPSM in Sydney in 2003, Pearle Vision in 2004, Surfeyes in 2006, and Cole National in 2004 as part of their search for other retail businesses. They paid 2.1 billion US dollars for Oakley in November 2007.

Leonardo Del Vecchio Net Worth Growth

Leonardo Del Vecchio’s net worth in 2019 was 19.8 billion, and it grew to 27.3 billion in 2022 over the years.

Highlights

Top Shareholding of Leonardo Del Vecchio

• Leonardo Del Vecchio’s holds of 61.90% of Luxottica.
• Leonardo Del Vecchio holds 28% of Covivio, an essential French real estate company.
• Leonardo Del Vecchio holds 3.17% of Assicurazioni Generali, Italy’s biggest insurance company.
• Leonardo Del Vecchio’s Narrated the film “Un solo sguardo” in 2011.

Favorite Quotes from Leonardo Del Vecchio

 “I am proof that you can you make money in Italy and be honest.”

– Leonardo Del Vecchio

“The values of life are most important.”

– Leonardo Del Vecchio

“I don’t like paying taxes, but I like sleeping at night.”

– Leonardo Del Vecchio

Keys Life Lessons from Leonardo Del Vecchio’s

We now know everything about Leonardo Del Vecchio and his net worth. Let’s look at some of his lessons.

1. Rags-to-Riches tale

He was born into a low-income family and became the 2^nd Richest person in Italy through his hard work.

2. Dare to build Entrepreneurship

Believing in his ideas and trusting in his marketing skills, he started his own company, which is the best example of entrepreneurship.

3. Be a visionary

Always have a vision in your mind about what you are going to achieve in life.

Frequently Asked Questions

Summary

Italian businessman Leonardo Del Vecchio is the founder and chairman of Luxottica. His luxury chain runs brands such as Ray-Ban, Sunglass Hut, Oakley, Lens Crafters, etc. Leonardo was born to a poor Milanese family on May 22, 1935. Leonardo Del Vecchio’s life was difficult when he was born. He completed his primary education while being raised in an orphanage. He had to work when he was 14 to support his family’s low income. As a trainee, he worked at a tool manufacturer in Milan for his first job. He began taking industrial engineering classes at night at 19 and continued working during the day. His orphanage, Martinitt, was also where he completed his early education.

After that, he attended Brera Academy to finish his secondary education. After beginning his career as an apprentice to a tool and die maker in Milan, he decided to apply his metalworking skills to producing spectacle parts. He sets the best example of Entrepreneurship for Youngsters in the world. Bootstrapping is the Form he chose to Stat the Business. Despite being Born into a low-income family, he successfully owned the Company and reached height. Del Vecchio, 87 years old, passed away from pneumonia at San Raffaele Hospital in Serrate, an eastern suburb of Milan. In a statement, his company revealed the news of his death.