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The $42 Billion Gen-Z Brothers Who Own Europe: The Del Vecchio Heirs

For the $43 Del Vecchio brothers, owning the iconic Ray-Ban sunglass company is just a small part of an empire that has catapulted them from teenage heirs into the ranks of the world's richest children. ------------------------------------ Allegra Versace: When $800 Million Can’t Save An Heiress:    • Allegra Versace: When $800 Million Ca...   ------------------------------------ Athina Onassis: The "Old Money" Heiress Who Can't Escape Drama:    • Athina Onassis: The "Old Money" Heire...   ------------------------------------ TIMESTAMPS: 0:00 Introduction 1:48 Chapter 1: The Dynamic Del Vecchios 5:42 Chapter 2: The Beginnings 9:19 Chapter 3: Bifocals To Billions 13:08 Chapter 4: The Transition in Power 16:53 Chapter 5: The Future of the Del Vecchios ------------------------------------ The Del Vecchio family doesn’t just rub elbows with Europe’s modern elite – they practically set the table. With a staggering combined fortune exceeding 25 billion U.S. dollars in 2024, this family owes its glittering success largely to eyewear domination. Their empire is rooted in EssilorLuxottica, founded by the late patriarch Leonardo Del Vecchio, who held a 32 percent stake worth around 22.2 billion when he passed away in 2022. But sunglasses and designer specs aren’t their only assets; they have diversified their wealth across Italy’s most prominent companies, including a near 10 percent stake in insurance giant Generali, worth approximately 2.6 billion, and a hefty share in Mediobanca and Covivio. When Leonardo passed, his fortune shifted to his wife, Nicoletta Zampillo, and his six children, particularly spotlighting sons Luca, Clemente, and Leonardo Maria. The youngest, Luca, inherited a 4.7 billion dollar stake in Delfin, the family’s holding company, making him one of the world’s youngest billionaires at just 22. Not to be outdone, 19-year-old Clemente also pocketed 4.7 billion, while Leonardo Maria, now 30, manages the family’s Italian retail operations for EssilorLuxottica. The Del Vecchios don’t skimp on indulgence, owning lavish properties, including a 26 million dollar yacht and a villa on Lake Como, alongside a fleet of exotic cars. But how did a family that rose from poverty produce some of the world’s youngest billionaires? Chapter 2 delves into their origins in the Papal States of Italy, tracing the family name back to historical records in Rieti. Leonardo, born in 1935, faced a tough start after his father passed before his birth, forcing his mother to place him in an orphanage. Yet this adversity fueled his relentless drive, and by age 14, he began working as an apprentice. His career shifted to the burgeoning eyewear industry, where he founded Luxottica at age 32. The brand transformed eyewear into a global commodity, making waves with strategic moves like its IPO on the New York Stock Exchange in 1990. The acquisition of Ray-Ban in 1999 solidified Luxottica's dominance. Yet, internal family conflict and public scrutiny would complicate their story. After Leonardo’s passing in 2022, the Del Vecchios navigated wealth distribution among his heirs, as EssilorLuxottica thrived under CEO Francesco Milleri. The family now looks to the future, with Luca and Clemente poised to play key roles in the evolving business landscape. With their massive resources, the Del Vecchios might soon influence industries far beyond eyewear, making their journey one to watch.