Leonardo Del Vecchio Net Worth: $23.1 Billion
Leonardo Del Vecchio was born on May 22, 1935 in Milan, Italy. He had to face a lot of hardships as a child because his father died five months before his birth. His mother was financially unable to support him so he was sent to an orphanage. Now, he is the founder and chairman of Luxottica, which owns Sunglass Hut and Lenscrafters chains. His apprenticeship started under a tool and die maker in Milan. Later he moved on to try his skills in spectacle parts making. He also started studying industrial design while working to support his family. Leonardo Del Vecchio is considered the richest person in Italy, with a net worth of $23.1 billion as of June 2015. Slowly, he started acquiring companies like Ray Ban, Persol, and Vogue.
How did Leonardo Del Vecchio make his money?
Leonardo Del Vecchio created a fortune from nothing. At the age of 75, he is considered to be worth $23.1 billion. Luxottica was established in 1961 but got enlisted in 1990 in New York and in 2000 in Milan. In 1967, Del Vecchio started selling complete eyeglasses under Luxottica. In 1974, he bought Scarrone, a distribution company, due to the need for vertical integration. He then struck the first of numerous deals in 1988 with Armani. His company has created about 6000 outlets around the globe, employing 73400 people. This is a huge achievement considering the struggles he had to meet in his early life.