Wall Street

Del Vecchio rose from poverty to billions by adding style to spectacles

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Reuters UK

By Claudia Cristoferi and Silvia Aloisi Businessman Leonardo del Vecchio, who has died aged 87, created the glasses company that owns brands including Ray-Ban and used his billions to become one of the most influential figures in Italian finance. 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. At the end of 2021, he was Italy’s second richest man, behind only Giovanni Ferrero of the Nutella-making group, according to Forbes. As is common in Italy, Del Vecchi…

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