Leonardo Maria Del Vecchio, heir to the EssilorLuxottica fortune, opened up about his personal struggles during a podcast interview that has drawn significant attention in Italy. The 31-year-old son of the late Leonardo Del Vecchio, founder of the eyewear giant, discussed his past drug use, complicated family dynamics, and tensions within the family business.
In the interview with Italian rapper Fedez, Del Vecchio acknowledged his battle with addiction, including dependence on benzodiazepines, a class of prescription sedatives. He credited becoming a father with helping him address these issues. Reflecting on his upbringing, he described an emotionally fraught relationship with his parents, saying his father provided financial inheritance but not love. He also recounted being expelled from his home as a teenager after his parents disapproved of his girlfriend.
Rejecting the label of a "nepo baby," Del Vecchio criticized many billionaires and expressed a desire to sell one of his two yachts, emphasizing a complex relationship with his wealth. The candid statements come shortly after he stepped down from his executive roles at EssilorLuxottica amid a public dispute with Francesco Milleri, the company’s CEO and a close associate of his late father.
Del Vecchio stated that his resignation was not about personal animosity but about company performance, highlighting that EssilorLuxottica’s recent stock decline was a central concern. He urged Milleri to focus on delivering results, reflecting underlying frustration with the company’s direction. Milleri chairs Delfin, the family holding firm that controls over 52 percent of EssilorLuxottica, and insiders have indicated that Milleri has struggled to support Del Vecchio following the founder’s death in 2022.
The conflict escalated earlier this year when Delfin’s board rejected a loan request of more than €10 billion that Del Vecchio sought to use to purchase stakes from two siblings and increase his holding in the family company from 12.5 to 37.5 percent. The holding company, based in Luxembourg, has seen its net asset value fall from nearly €50 billion at the end of 2022 to approximately €40 billion, while also maintaining substantial investments in Italian financial institutions such as Monte dei Paschi di Siena and insurer Generali.
Recently, Delfin supported Intesa Sanpaolo's €50 billion takeover bid for Monte dei Paschi di Siena, in which it remains the largest shareholder. The Del Vecchio heirs, eight in total, have faced ongoing disputes that have hampered efforts to adjust Delfin’s dividend policy, which currently caps distributions at 10 percent of annual profits.
Aside from his family holdings, Leonardo Maria Del Vecchio has developed his own investment ventures, reportedly accumulating over €1 billion in debt to finance them. Known occasionally as a DJ and frequenting celebrity circles, he has shared moments with high-profile figures like supermodel Naomi Campbell on social media, signaling a blend of business and personal reinvention during a turbulent period for the family empire.