Billionaire Fashion Icon Leonardo Del Vecchio Dead At Age 87

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Leena Nasir Entertainment Reporter
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Leonardo Del Vecchio, Luxottica founder and highly esteemed fashion mogul, died Monday at the age of 87. The cause of death has not been revealed.

Del Vecchio was the mastermind behind Luxottica, which was first developed in 1961 and merged with French lens-maker Essilor in 2018, according to Business of Fashion. The company owns recognizable brands such as Ray-Ban and Oakley and has designed luxury eyewear for Chanel and Prada. This catapulted Del Vecchio’s success, eventually earning him the recognition of being one of Europe’s wealthiest men, the outlet reported.

Del Vecchio is believed to have left behind a sizable fortune estimated to be in the range of $29 billion, according to Reuters. He also had stakes in Italian financial companies Mediobanca and Generali, Business of Fashion reported.

Del Vecchio rose to his level of success and wealth after having been partially raised in an orphanage during his childhood years, the outlet reported.

“EssilorLuxottica sadly announces today that its chairman has passed away,” the company said in a statement released Monday. EssilorLuxottica is still establishing its next steps in the wake of Del Vecchio’s untimely passing, the statement continued. (RELATED: Actress Mary Mara Dies By Drowning At Age 61)

World famous designer Giorgio Armani was among those who flocked to social media to share loving moments and words of condolences over the loss of Del Vecchio. Armani had reportedly worked closely with Del Vecchio since the 1980s.

“Leonardo Del Vecchio was a great Italian. His story, from orphanage to leadership of a business empire, seems like a story from another time. But it is an example for today and tomorrow. RIP,” European Economy Commissioner Paolo Gentiloni tweeted, according to CNN.