ITALY’S WEALTHIEST: For some, Italy’s recession is but a blip on the radar. Milano Finanza released its annual ranking of the 350 wealthiest investors in Italy’s stock exchange last week, and several fashion executives made the top 10. Most notably, eyewear giant Luxottica’s Leonardo Del Vecchio topped the list for the second year running, with an estimated 15.16 billion euros, or about $20.3 billion at current exchange, while Prada’s Miuccia Prada and Patrizio Bertelli fell behind to third place from second behind Gianfelice and Paolo Rocca of Tenaris, a firm that manufactures industrial steel pipe products. The Benetton family was ranked fourth, thanks to the group’s diverse portfolio spanning from the Autogrill catering service to Mediobanca.
In a surprising twist, the People’s Bank of China landed in eighth place, marking the first time a Chinese investor was included in the ranking. It did so through its various investments in the automotive, telecommunications, insurance, oil and gas and energy sectors, hitting 3.11 billion euros, or about $4.16 billion, and surpassing Italy’s former prime minister Silvio Berlusconi, a steadfast investor.
This story first appeared in the August 21, 2014 issue of WWD. Subscribe Today.
Other fashion names that appeared on the list included Wanda Miletti Ferragamo and family, Andrea and Diego Della Valle, Giorgio Armani, Luigi Maramotti, Nicola Bulgari, Remo Ruffini, Renzo Rosso, Bernard Arnault, Alberta and Massimo Ferretti, Federico Marchetti of Yoox and Gildo and Paolo Zegna.