One of Italy’s richest men and founder of eyewear brand Luxottica, Leonardo Del Vecchio, has died aged 87, Italian media Corriere della Sera reports.
At the time of this writing, the cause of his death has not been revealed.
After Leonardo’s death, his fortune will be divided between his six children, whom he shares with different partners, according to another report from the Italian media.
Here’s a look at Leonardo’s net worth as the world mourns the great loss.
Leonardo Del Vecchio net worth revealed
Leonardo had an estimated net worth of $33 billion at the time of his death, according to Celebrity Net Worth.
Luxottica is said to be the world’s largest eyewear producer and retailer, owning well-known brands such as Ray-Ban, Oakley and Sunglass Hut.
Founded in 1961 in the northern Italian town of Agordo, the Leonardo brand began in a small workshop that manufactured components for other companies.
Eventually the brand began manufacturing its own sunglasses and acquired many major eyewear companies in the following years.
Leonardo held the majority stake in Luxottica with a 61.9% share. He also held shares in Covivo, Italian investment bank Mediobanca and Italian insurance company Assicurazioni Generali.
The Italian billionaire has died
Leonardo’s death was announced by his company in a statement which read: “With deep sadness, (the Board of Directors announces) the death of Chairman Leonardo Del Vecchio and expresses its most sincere condolences to the family and to all the community of employees worldwide for this death”. huge loss. »
The billionaire shared three children with his first wife Luciana Nervo, and another child with his second wife, Nicoletta Zampillo.
Although he did not marry his third partner Sabina Grossi, the two shared two children together.
His children are Claudio, Marisa, Paola, Leonardo Maria, Luca and Clemente.
HITC extends its condolences to Leonardo’s family and friends at this difficult time.
A look back at his youth
Leonardo’s life is a classic rags-to-riches story.
Born into a poor family, he was sent to an orphanage by his mother because she could no longer support him. He started working when he was only 14 years old.
Leonardo worked in an auto parts and eyewear factory and used the earnings to enroll in design school.
He moved to Agordo at the age of 25 and started his own business. His brand now has stores around the world employing thousands of people.
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