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Grizzly Bulls’ Billionaires Index

⬅ # 621 Vinod Rai Gupta|# 623 Rocco Basilico ➡

# 622 Claudio Del Vecchio 

$5.32B

Real Time Net Worth
as of 10/28/2024
-$54.2M (-1.02%)

# 622 Claudio Del Vecchio 

$5.32B

Real Time Net Worth
as of 10/28/2024
-$54.2M (-1.02%)
OccupationPartial Owner, Luxottica
Source of WealthEyeglasses
Age67
ResidenceMuttontown, New York
Marital StatusMarried
Children3
Age-Adjusted Net Worth$3.31B
Claudio Del Vecchio
Claudio Del Vecchio
Italy
Net worth: $5.32B

Self-Made Score 

Breitling Men's Super Avenger II Analog Display Swiss Automatic Silver Watch

Biography

Overview

Claudio Del Vecchio is an Italian billionaire known for his association with Luxottica, the world's largest eyewear company, founded by his father Leonardo Del Vecchio.
He inherited a 12.5% stake in Delfin, his father's Luxembourg-based holding company, after Leonardo Del Vecchio's death in 2022, alongside his stepmother and six siblings.
Besides his involvement with EssilorLuxottica, Delfin holds shares in Generali, Mediobanca, UniCredit, and Covivio.
Del Vecchio acquired Brooks Brothers in 2001 and led the company until its bankruptcy filing in September 2020.

Biography

Del Vecchio was sent by his father to lead Luxottica's U.S. development in 1982, later becoming CEO during the 1990s and overseeing the company's public listing and the acquisition of LensCrafters.
He left Luxottica in 1998 and subsequently acquired struggling retailer Casual Corner, turning it around before selling it in 2005.
Del Vecchio's leadership extended to Brooks Brothers, where he served as chairman, CEO, and owner until its bankruptcy in 2020, which led to its acquisition by Authentic Brands.
He inherited his stake in Delfin after his father's death, along with holdings in various prominent companies like Generali, Mediobanca, UniCredit, and Covivio.

Personal Life

Claudio Del Vecchio resides in a nine-bedroom estate in Muttontown, Long Island, which was listed for $11 million in 2021.
His family ties to the eyewear industry include his brother Leonardo Maria, who oversees Italian retail for Luxottica, and his son Matteo, who holds a senior position at EssilorLuxottica North America.

Luxottica History

Luxottica, founded by Leonardo Del Vecchio in 1961, quickly became a dominant force in the eyewear industry, focusing on vertical integration and brand acquisitions.
Under Leonardo's leadership, Luxottica acquired various businesses, expanded internationally, and secured licensing deals with designers like Giorgio Armani.
The company went public in New York in 1990 and later in Milan in 2000, using its shares to acquire brands such as Vogue Eyewear, Persol, LensCrafters, Ray-Ban, and Sunglass Hut.
Luxottica's market power allowed it to charge significant price markups, and it further expanded by acquiring companies like Oakley in 2007 and Erroca in 2011.
In 2017, Luxottica merged with Essilor, forming EssilorLuxottica, the world's largest eyewear company, with Leonardo Del Vecchio as executive chairman.

Claudio Del Vecchio's Wealth is Equivalent to:

4,091,609 Herman Miller Aeron Chairs

Herman Miller Aeron Chair

1,005,676 Gold Bars (50 gram)

24K Solid 50g Gold Ingot

54,321 Tiny Homes

Tiny House, Two Bedroom Solar Prefab Home

How long would it take you to become as rich as Claudio Del Vecchio?

If you started with $10,000 and invested an additional $500 each month at a 43.72% CAGR, it would take you 5 years to reach Claudio Del Vecchio's net worth of $5.32B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 60.38% compared to 22.68% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Claudio Del Vecchio is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Claudio Del Vecchio, Eyeglasses is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Affiliate Disclosure: Some of the links on this page are affiliate links. This means that, at no additional cost to you, we may earn a commission if you click through and make a purchase. We only recommend products or services we believe will add value to our readers.

Edited by: Lee Bailey