[CLSTR]
< Back to situations

Monitor this situation.

[SITUATION] · [ACTIVE] · [BUSINESS]

4 clusters · 12 sources · 16 days · First seen · Last updated

Leonardo Maria Del Vecchio public commentary

Overview

Leonardo Maria Del Vecchio, a shareholder of EssilorLuxottica via Delfin, has used a recent appearance on the ‘Pulp Podcast’ with Italian rapper Fedez to address both personal and professional matters.

Del Vecchio shared personal reflections regarding his private life, his relationship with wealth, and his late father. He admitted to past struggles with drug addiction, specifically mentioning the use of benzodiazepines to fill emotional voids following his father’s death in 2022. He also made controversial claims regarding his personal life, stating he had intimate relationships with over 2,000 women, and offered a critique of the billionaire class.

Following these personal disclosures, Del Vecchio directed criticism toward EssilorLuxottica CEO Francesco Milleri. He expressed concern over the company’s recent stock market performance and significant decline in value, asserting that the company has lacked the proper vision since his father’s passing. Del Vecchio maintained that as an administrator of a public company, Milleri has a responsibility to the market and all shareholders, noting that his critiques are based on professional results and the reputational link to his family name. He further commented on the lack of systemic support for Italian entrepreneurship compared to France.

This criticism occurs amid a broader inheritance dispute involving a family fortune estimated at more than €55 billion ($88 billion). Reports indicate Del Vecchio has sought to increase his control over the company by attempting to buy out siblings for approximately $11.2 billion. While Milleri has dismissed the public disagreements as “useless and unfounded,” EssilorLuxottica shares recently surged approximately 15 per cent following better-than-expected financial results. Del Vecchio has recently stepped down from his roles as president of Ray-Ban and chief strategy officer of EssilorLuxottica to pursue new entrepreneurial projects.

Entities

Leonardo Maria Del Vecchio · EssilorLuxottica · Francesco Milleri · Delfin · Fedez

Timeline

  1. [BUSINESS] 2 sources
    EssilorLuxottica faces internal conflict amid family inheritance dispute

    Heir Leonardo Maria Del Vecchio has publicly challenged EssilorLuxottica CEO Francesco Milleri, sparking a dispute over the leadership and future of the €55 billion eyewear empire.

  2. [BUSINESS] 2 sources
    Ray-Ban heir Leonardo Del Vecchio criticizes EssilorLuxottica leadership

    Ray-Ban heir Leonardo Del Vecchio has admitted to drug addiction and criticized EssilorLuxottica's leadership amid an ongoing multi-billion dollar inheritance dispute.

  3. [BUSINESS] 2 sources
    Leonardo Maria Del Vecchio criticizes EssilorLuxottica CEO

    Leonardo Maria Del Vecchio criticized EssilorLuxottica CEO Francesco Milleri over the company's stock decline and corporate governance during a podcast interview.

  4. [CULTURE] 6 sources
    Leonardo Maria Del Vecchio discusses private life on Pulp Podcast

    Leonardo Maria Del Vecchio, son of the Luxottica founder, discussed his private life, wealth, and past struggles in an interview on Fedez’s Pulp Podcast.

Sources

altopascio.info · calabrianews.it · cinemaserietv.it · complex.com · forchecaudine.it · jutarnji.hr · lamilano.it · sardegnareporter.it · smh.com.au · soldionline.it · spazio50.org · theage.com.au

This summary has been updated 2 times: see revision history