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Clemente Del Vecchio, born on May 14, 2004, in Milan, Italy, has gained recognition as the world’s youngest male billionaire at the age of 20 worth $5.2 bn as of Nov. 22, according to the 2024 Forbes Billionaires List.
He is the son of Leonardo Del Vecchio, the founder of EssilorLuxottica, a leading global eyewear company, and Sabina Grossi, who previously headed investor relations at Luxottica.
Following the death of his father in June 2022, Clemente inherited a significant portion of the family wealth. He holds a 12.5% stake in Delfin, a Luxembourg-based holding company that manages various investments including EssilorLuxottica. This stake is valued at approximately $4.7 billion, placing him among the wealthiest individuals globally. The total wealth left by Leonardo Del Vecchio was estimated at around $25.5 billion, shared among Clemente and his six siblings.
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Delfin’s portfolio includes stakes not only in EssilorLuxottica but also in other major companies such as Generali (an insurance firm), Mediobanca and UniCredit (banks), and Covivio (a real estate developer). This extensive business network shows the substantial financial legacy Clemente has inherited.
Despite his vast wealth, Clemente Del Vecchio has expressed a desire to pursue education and personal interests outside the business realm. Reports indicate that he is particularly interested in science and technology. He wants to continue his studies in these fields, demonstrating a commitment to personal growth rather than solely focusing on managing inherited wealth.
Clemente’s approach to his fortune reflects a trend among young billionaires who inherit their wealth rather than create it through entrepreneurship. This generational shift highlights the ongoing “great wealth transfer,” where significant fortunes are passed down to younger heirs.
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Clemente comes from a family with a rich history in business. His father was instrumental in establishing Luxottica as a dominant force in the eyewear industry, controlling over 80% of the global market for luxury glasses. The family’s journey began from humble beginnings; Clemente’s grandfather worked as a vegetable vendor in Milan before the family ventured into eyewear.
In addition to Clemente, his siblings are also involved in various aspects of the family business. His brother Luca Del Vecchio holds a similar stake in Delfin and is actively engaged in strategic roles within the company.
Chisom Michael is a data analyst (audience engagement) and writer at BusinessDay, with diverse experience in the media industry. He holds a BSc in Industrial Physics from Imo State University and an MEng in Computer Science and Technology from Liaoning Univerisity of Technology China. He specialises in listicle writing, profiles and leveraging his skills in audience engagement analysis and data-driven insights to create compelling content that resonates with readers.
