Chocolate maker Ferrero confirmed as wealthiest Italian: Wealth-X

Michele Ferrero, owner of renowned chocolate maker Ferrero, is the wealthiest Italian, according to research published by data and information consultancy Wealth-X.

With a net worth of $21.7bn, Ferrero is followed by Leonardo Del Vecchio, founder and chairman of Luxottica Group, with a net worth of $18.4bn and by Giorgio Armani, president and CEO of Armani Group with $9.7bn assets.

The collective wealth of the top 10 wealthiest Italians stands at $88bn, which comprises 40% of the combined net worth of the Italian UHNW population.

“In particular, fashion moguls constitute half the list and represent 52% of the combined net worth of the top 10 wealthiest Italians,” Wealth-X said.

Commenting on the list, Mykolas D. Rambus, chief executive, noted that the top Italian billionaires are inextricably linked to luxury fashion. “We often see that there are strong social and professional connections among global billionaires and the Italians are no exception. Understanding a UHNWI’s social capital is increasingly critical for professionals who wish to successfully engage with this ultra wealthy community.”

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