Del Vecchio heirs clash as family holding power struggle intensifies

The meeting, originally intended to ratify a governance overhaul aimed at resolving years of inheritance litigation, is now expected to expose the widening rift between the eight beneficiaries of the eyewear magnate’s estate. Each heir holds an equal 12.5% stake in Delfin, a structure designed by the founder that has become a source of friction following his death in 2022.

In April, 30-year-old Leonardo Maria Del Vecchio appeared to secure a path forward by negotiating a 10 billion euro deal to buy out two of his siblings, which would have granted him a 37.5% controlling interest. That plan has since stalled as banks demand stricter board oversight, while an alternative proposal from Rocco Basilico—the son of Del Vecchio’s widow—has emerged, suggesting a massive sell-off of all non-eyewear assets.

The internal discord comes at a precarious moment for the family’s portfolio. Shares in EssilorLuxottica have slumped over the past year, and the holding company’s 17.5% stake in Monte dei Paschi di Siena has placed the family at the center of a high-stakes Italian banking consolidation. With the company’s strategic direction now in flux, the heirs face a mounting pressure to reconcile their opposing visions before the instability further impacts their significant holdings in Generali and UniCredit.