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Grizzly Bulls’ Billionaires Index

⬅ # 659 Winnie Johnson-Marquart|# 661 Reed Hastings ➡

# 660 Clemente Del Vecchio 

$5.12B

Real Time Net Worth
as of 5/18/2024
$46.6M (0.91%)

# 660 Clemente Del Vecchio 

$5.12B

Real Time Net Worth
as of 5/18/2024
$46.6M (0.91%)
OccupationPartial Owner, Luxottica
Source of WealthEyeglases
Age20
ResidenceMilan, Italy
Age-Adjusted Net Worth$76.6B
Clemente Del Vecchio
Clemente Del Vecchio
Italy
Net worth: $5.12B

Self-Made Score 

Biography

Overview

Clemente Del Vecchio, born into wealth as one of six children of Leonardo Del Vecchio, inherited a 12.5% stake in his father's Luxembourg-based holding company Delfin after his father's passing.
He became the world's youngest billionaire at age 18 when he inherited his stake in his father's fortune in 2022.
Del Vecchio is known for his association with EssilorLuxottica, the world's largest eyewear firm, formed through the merger of Luxottica and Essilor.
His inherited stake in Delfin provides him with interests in EssilorLuxottica, insurer Generali, banks Mediobanca and UniCredit, and real estate developer Covivio.

Early Life and Inheritance

Clemente Del Vecchio is one of two children born to Leonardo Del Vecchio and Sabina Grossi, alongside his brother Luca.
He inherited a 12.5% stake in his father's Luxembourg-based holding company Delfin after Leonardo Del Vecchio's death in 2022.
This stake in Delfin encompasses interests in various entities, including EssilorLuxottica, Generali, Mediobanca, UniCredit, and Covivio.
His inheritance positioned him as one of the world's youngest billionaires, assuming this status at the age of 18.

Luxottica and EssilorLuxottica Association

Del Vecchio's wealth is largely tied to his family's association with Luxottica, an Italian eyewear conglomerate founded by his father, Leonardo Del Vecchio, in 1961.
Luxottica, which merged with Essilor to form EssilorLuxottica, is renowned as the world's largest eyewear company.
Through Luxottica's vertically integrated business model, Del Vecchio's wealth extends to various subsidiaries and brands within the eyewear industry.
EssilorLuxottica's formation solidified Del Vecchio's position in the global business landscape, further enhancing his financial standing.

Luxottica's History and Expansion

Leonardo Del Vecchio founded Luxottica in 1961, initially as a sunglasses manufacturer based in Agordo, Italy.
Recognizing the importance of vertical integration, Luxottica rapidly expanded through acquisitions, securing distribution channels and licensing deals with renowned designers.
The company's listing on stock exchanges facilitated further acquisitions, including brands like Vogue Eyewear, Persol, LensCrafters, Ray-Ban, and Sunglass Hut.
Luxottica's acquisition of Oakley in 2007 and partnership with Google in 2014 underscored its strategic growth and diversification efforts.

Merger With Essilor and Corporate Reorganization

In January 2017, Luxottica announced a merger with Essilor, forming EssilorLuxottica, a dominant force in the eyewear industry.
The merger, completed in October 2018, marked a significant milestone in Del Vecchio's career and further consolidated his family's wealth.
Corporate reorganization efforts, including changes in leadership and structure, aimed to optimize operational efficiency and market development.
Del Vecchio's involvement in the merger process and subsequent governance underscored his strategic vision and leadership within the combined entity.

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

If you started with $10,000 and invested an additional $500 each month at a 44.10% CAGR, it would take you 5 years to reach Clemente Del Vecchio's net worth of $5.12B.

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 42.76% compared to 11.89% for the S&P 500 benchmark.

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

Clemente 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 Clemente Del Vecchio, Eyeglases 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.

Edited by: Lee Bailey