economy
March 6, 2026
"The Glasses King" has a plan: He will pay off his family and take over a $100 million empire
The son of the late billionaire Leonardo Del Vecchio is trying to buy out his brother and sister's shares in the family holding company Delfin, the largest shareholder of EssilorLuxottica, in order to end a long-standing inheritance dispute.
TL;DR
- Leonardo Maria Del Vecchio is close to an agreement to buy out his siblings' shares in the family holding company Delfin.
- This move aims to end a long-standing inheritance dispute and consolidate his control over the company, which holds significant stakes in EssilorLuxottica and Generali.
- The deal is structured as a leveraged buyout, with financing from unnamed banks.
- Leonardo Maria intends to prioritize the protection and growth of EssilorLuxottica, calling it the family's "crown jewel."
- He also initiated legal proceedings against his mother and half-brother regarding a transfer of shares that he believes contradicts his father's will.
- Delfin holds substantial investments in EssilorLuxottica, a leading eyewear manufacturer, as well as stakes in Banca Monte dei Paschi di Siena and Mediobanca.
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