Now 83 and currently living in Milan, Del Vecchio still serves as the executive chairman of Luxottica, while his son Claudio is CEO of the prestigious Brooks Brothers clothier. As of January 2020, Del Vecchio had a net worth of $25.8 billion, making him the richest man in Italy, and the 50th richest in the world. Estimated net worth: $7.4 billion (£5.7 billion). Offerings at the upscale Seattle-based retailer will be skewed toward a contemporary customer, which calls for a modern mix of slim-fitting suits, narrow ties, less voluminous shirts and campus-inspired sportswear. Since 2016, the 54-year-old has relinquished his position as Ferrero’s CEO and now oversees the company’s long-term strategy as executive chairman. Leonardo Del Vecchio Net Worth Leonardo Del Vecchio was born on May 22, 1935 in Milan, Italy, Italy. Since then, Il Cavaliere (The Knight) has been embroiled in numerous blackmail, corruption and tax fraud scandals, culminating in a (later rescinded) court order banning him from running for political office in 2014. Many of the names on this list have had to work hard to reach the top, however. Mr. Del Vecchio came to the United States in 1982 and was instrumental in transforming Luxottica into a premier eyewear organization, overseeing its IPO in 1990. Brooks is the source of many men’s wear innovations now taken for granted. As the widow of pharmaceuticals magnate Alberto Aleotti, Massimiliana – along with their children Lucia and Alberto Giovanni – inherited control of the influential Menarini Group in 2014, with Massimiliana retaining overall ownership. Since 2005, the brand has also diversified into luxury hotels, including a flagship hotel at the Burj Khalifa in Dubai. Del Vecchio's father peddled vegetables on the streets of Milan and died before he was born. Claudio Del Vecchio is Chairman/CEO/Owner at Brooks Brothers Inc. See Claudio Del Vecchio's compensation, career history, education, & memberships. Privacy Policy and Surprisingly, Del Vecchio was a complete gentleman, and having worked with a lot of the high-net-worth, that's most unusual. All rights reserved. Built entirely upon a secret cocoa-hazelnut recipe called Pasta Gianduja – or, as the rest of the world now calls it, Nutella – the Ferrero empire is a global multibillion-dollar venture that is currently headed up by Giovanni Ferrero, the grandson of company founder Pietro. Del Vecchio has also collaborated with Janie Bryant, the costume designer for Mad Men, to produce clothes for the show as well as a Brooks Bros. Mad Men Edition suit that sold out in 10 days. Under Giuseppe’s charge, the company has struck successful distribution and manufacturing deals with other market giants, such as Kenwood and Braun, while the family line looks safe; son Fabio is the company’s current CEO. (Del Vecchio jokes that it was actually he who “married the boss,” since she was “a manager and she spoke English and was very influential.”) Today, she concentrates on raising their children and working for many charities—such as Helen Keller Services for the Blind and the Breast Cancer Research Foundation—about which both Del Vecchios are passionate. He partnered with Claudio Del Vecchio for the venture. “But the biggest question mark was, would the customers come back—or were they gone forever?”. Chief Operating Officer. Following the acquisition of Perfetti Van Melle’s shareholdings in 2001, the company has established itself as the third largest confectionery manufacturer in the world after Mondelez International and Mars, Inc. Ferrero himself is married with two children and currently resides in Brussels, Belgium. His awareness of Brooks Bros. came long before that, though. Brooks Bros. has also opened stores in Milan, Paris, Athens, Chile and Mexico. Terms of Use. Estimated net worth: $12.4 billion (£9.5 billion). Brembo / BloombergPaolo (left) and Gianfelice Rocca, Estimated net worth: $4.1 billion (£3.2 billion). Del Vecchio recently formed a partnership with Nordstrom, which in July will begin selling Brooks Bros. men’s and children’s wear in about 30 stores as well as online. “It’s one of the most beautifully articulated and longest-running mission statements in American business history,” he says of the retailer’s original guiding principles, which he quotes frequently: “To make and deal only in merchandise of the finest quality, to sell it at a fair profit and to deal with people who seek and appreciate such merchandise.”. Under his watch, Campari has gone from selling niche products to acquiring some of the world’s most recognisable spirits, including Cinzano and Ouzo 12. Following the death of his mother Rosa in 2016, it was announced that Garavoglia would inherit her shares, making him the controlling stakeholder of the Campari business. Born into poverty in 1935, the eyewear magnate was sent to an orphanage at age 7, before apprenticing at a parts factory at age 14 to make ends meet. As he likes to point out, he bought Brooks Bros. on Thanksgiving, his American wife was born on Columbus Day, and his son Matteo, from a previous marriage, was born on the Fourth of July. His experience with the now-defunct women’s chain, which required major investment but lacked brand strength, prompted him to look elsewhere. What would you do with that kind of money? Name/Company. Although many of these Italian billionaires have had a helping hand in terms of inheritance, their business intuition, shrewd decision-making and entrepreneurial prowess has ensured that they remain firmly among the world’s richest. Leonardo Del Vecchio is married with six children and his son Claudio owns US men's retailer Brooks Brothers, which licenses glasses from Luxottica. Board Members. The Lewis Family. Mauro Calderan. Estimated net worth: $8.5 billion (£6.5 billion). The transition from customer to owner wasn’t even on the horizon at that point. Others had the same idea—Brooks’ potential suitors included Men’s Wearhouse, May Department Store Co., Polo Ralph Lauren and Dickson Poon—but that changed with 9/11. “It had no distribution there,” he says, “but Gianni Angeli, the chairman of Fiat, was a customer and he was considered a fashion icon. The economist is married to, his starsign is Gemini and he is now 85 years of age. So, clearly, does Del Vecchio. So, if you’re wondering who has amassed the biggest fortune, then read on – here are the 10 richest Italians, according to Forbes. Despite its conservative image, the retailer has a remarkable instinct for change. Claudio Del Vecchio. “We have a healthy respect for the past, but we’re not completely influenced by it,” Del Vecchio says, sitting in his corner office at Brooks Bros.’ Madison Avenue flagship in New York, with a gas fireplace adding warmth to the room. For an Italian to turn around an iconic but declining American brand could be the ultimate men’s wear business challenge. “Claudio has found a way to restore the nostalgia we all felt for ‘our father’s Brooks Bros.’ while making the brand entirely relevant and modern,” says Bryant. “I got to walk into this building 10 years before I bought it,” he recalls. As you will see, these billionaires and business tycoons come from all types of backgrounds, having found success in industries as diverse as confectionery, eyewear and designer goods. Rated as the second richest man in Itlay after Michele Feroro, Del Vecchio has a net worth of US$19.1 billion. Claudio Delvecchio net worth is Greater than $499,999. Although some viewed Black Fleece as iconoclastic—especially in 2006, when it was first unveiled—Browne sees it otherwise. He may love playing golf and watching soccer. 1. Claudio Del Vecchio grew up in Milan, the oldest of six children of Leonardo Del Vecchio, the self-made billionaire founder of the Italian eyewear giant Luxottica Group. After taking over the family wholesaling business in Naples in 1977, Stefano Pessina – a nuclear engineering graduate from the prestigious Politecnico di Milano – decided to transform his company into Alliance Santé, guiding it through a series of large-scale mergers and acquisitions in the last 40 years to eventually create Walgreens Boots Alliance. He was on his own. This story first appeared in the March 21, 2011 issue of WWD. However, in December 2018, the Court of Appeal in Florence overturned this verdict, clearing the siblings of any wrongdoing. Estimated net worth: $22.4 billion (£17.2 billion) But his modest air is genuine. Estimated net worth: $3.8 billion (£2.9 billion). Card payments collected by DeltaQuest Media, company no. Paolo – the younger of the two brothers – obtained his MBA from Harvard Business School in 1985, and currently serves as the company’s CEO, while Gianfelice, who also attended HBS, serves as the group’s chairman. Indeed, the combined total of these 10 fortunes alone is $94.7 billion (£72.9 billion)! Now 83 and currently living in Milan, Del Vecchio still serves as the executive chairman of Luxottica, while his son Claudio is CEO of the prestigious Brooks Brothers clothier. The estimated net worth of the Del Vecchio family is $23.3 billion. Thomas Keneally salary income and net worth data provided by People Ai provides an estimation for any internet celebrity's real salary income and net worth like Thomas Keneally based on real numbers. Both brothers are active in industry organisations and social groups, although Paolo, who lives in Buenos Aires, was indicted by an Argentinian court in November 2018 and forbidden from leaving the country as part of an investigation into a bribery scandal. In 2017, meanwhile, he sold the AC Milan football club (of which he had retained ownership for 31 years) to a Chinese investment group for €740 million ($835.5 million/£640.2 million). The grandsons of industrialist Agostino Rocca, Paolo and Gianfelice Rocca are the current stewards of the Techint Group, a multinational conglomerate with interests in construction, engineering, healthcare, energy and steel production. To meet it, he knew he’d have to look forward, not back. © Copyright 2021  -  Penske Media Corporation. Brooks Brothers CEO Claudio Del Vecchio told the newspaper that he hasn't ruled out bankruptcy. Del Vecchio isn’t shy about admitting he’s “an excellent chef”—he even opened a restaurant in the Nineties, when he lived in Hartford because the local eateries failed to meet his high standards. Del Vecchio owns more than 62% of the shares in Luxottica. It introduced seersucker in 1830; the first ready-made suit in 1845; the button-down collar in 1896; the repp tie in 1920, and argyle socks, in 1949. “Claudio has truly embraced the heritage of Brooks Bros.,” the designer says, “and evolved the brand and business in a very respectful way.”. “After that, most of the other [interested] companies disappeared, and we ended up paying less than we thought we would,” Del Vecchio says. Check out Thomas Keneally's net worth in US Dollar Jan, 2021. He wore Brooks Bros. shirts, so I had a curiosity about it. Claudio Del Vecchio: The Key to Success is in Learning How to Listen Maria Teresa Cometto (October 22, 2018) Brooks Brothers, America’s oldest apparel brand, celebrated its milestone two hundred year anniversary in collaboration with Pitti Immagine Uomo in Florence, Italy. Lucia and Alberto Giovanni (installed as chairman and vice-chairman, respectively) were convicted of tax fraud and money laundering in 2016, receiving prison sentences of 10 and 7.5 years. After a shaky start, the label gained traction, and its sales were expected to hit $10 million last year. His net worth is estimated at US$ 21 billion. From the outset, he explains, his plan was to be “an innovator, not a conservator.”, Squaring all this with the tradition of Brooks Bros.—the company that made the coat Lincoln wore to Ford’s Theater the night he was assassinated—presents certain difficulties. £5 billion ) he wants it to grow page by Raphael Belly Photography Thomas Keneally 's net worth in dollar! That he has n't ruled out bankruptcy of Appeal in Florence overturned this verdict, clearing the siblings any. Later this year, in another unprecedented move, the combined total these... Ray-Ban, Oakley, when it was first unveiled—Browne sees it otherwise Vecchio found! 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