Ray-Ban’s Billionaire Owner Leonardo Del Vecchio Dies at 87
The chairman of spectacles maker EssilorLuxottica (ESLOF) and one of Italy’s wealthiest business figures, Leonardo Del Vecchio has died aged 87.
This was revealed in a statement issued by his company earlier today on Monday.
“EssilorLuxottica sadly announces today that its chairman has passed away,” the group said in a statement, adding that the the board would meet to “determine the next steps.”
Del Vecchio rose from a childhood in an orphanage to amass a fortune of tens of billions of euros in one of the most famous rags-to-riches stories in Italy’s post-war economic recovery.
“Leonardo Del Vecchio was a great Italian. His story, from orphanage to leadership of a business empire, seems like a story from another time. But it is an example for today and tomorrow. RIP,” European Economy Commissioner Paolo Gentiloni wrote on Twitter.
The Italian businessman founded Luxottica in 1961 and built up a company that owned the Ray-Ban brand and combined forces with France’s Essilor in a major merger in 2018.