Introducing Clemente Del Vecchio: The 19-Year-Old World’s Youngest Billionaire

New Delhi:

Forbes releases a list of billionaires every year, and this year, all eyes are on Clemente Del Vecchio. What’s catching everyone’s attention is that he is just 19 years old, making him the youngest billionaire to feature on the prestigious list. 

Clemente’s father, Italian billionaire Leonardo Del Vecchio, former chairman of EssilorLuxottica, the world’s largest eyeglasses firm, passed away at 87 in June last year. His substantial $25.5 billion fortune was inherited by his wife and six children, including Clemente- who became the world’s youngest billionaire in 2022. 

Some facts about the youngest billionaire:

• Clemente Del Vecchio became a billionaire at the age of 18.
• He has inherited a 12.5% stake in his father’s holding company, Delfin, based in Luxembourg. 
• Clemente Del Vecchio’s net worth currently stands at $4 billion, as per Forbes. 
• Clemente Del Vecchio, despite his substantial inheritance, is reportedly focused on his studies and personal interests. He has shown a keen interest in science and technology, expressing a desire to attend college and pursue a career in these fields.
• Clemente Del Vecchio reportedly owns several luxury properties in Italy, including a villa in Lake Como and an apartment in Milan.

Despite the vast family wealth stemming from Leonardo’s leadership, which included the acquisition of major brands like Sunglass Hut and Ray-Ban, Clemente maintains a low profile and reportedly does not directly engage in his father’s businesses.

Clemente Del Vecchio’s oldest brother, Claudio, rose to prominence after his father sent him to the United States at 25 in 1982. For 15 years, he managed Luxottica in the US and made notable acquisitions like LensCrafters for $1.4 billion in 1995. In 2001, Claudio bought Brooks Brothers for $225 million, but it faced financial troubles and filed for bankruptcy in July 2020. Clemete’s second-oldest brother, Leonardo Maria, is involved in the family business, leading Italian retail for Luxottica. Interestingly, not many know that Clemete Del Vecchio’s grandfather worked as a vegetable peddler in Milan and passed away before he was born.