Ray-Ban Heir Rejects Billions for Stake in Family Investment Firm

Ray-Ban heir Rocco Basilico has turned down a €3.5 billion offer, equivalent to approximately $3.9 billion, for his 12.5% stake in Delfin Sarl, according to people familiar with the matter. Delfin is the family investment company that holds major stakes in EssilorLuxottica SA and several prominent Italian financial institutions.

The acquisition proposal was submitted by Rocco's stepbrother, Leonardo Maria Del Vecchio, sources stated. The bid is part of an ongoing effort by Leonardo Maria to consolidate his holdings and increase his influence within the family enterprise following a series of boardroom disagreements and management shifts.

Delfin's public holdings currently carry a market value exceeding €40 billion. The Luxembourg-based firm controls nearly one-third of the world's largest eyewear corporation and maintains significant investments in Italian financial institutions, including Assicurazioni Generali SpA and Banca Monte dei Paschi di Siena SpA.

Under the terms of the inheritance from the late founder Leonardo Del Vecchio, each of the eight heirs received an equal 12.5% stake in the holding company. While management authority largely rests with Chairman and Chief Executive Officer Francesco Milleri and designated managers, internal family dynamics have faced public scrutiny amid shifting alliances.

Leonardo Maria recently stepped away from his executive role at the eyewear manufacturer after an earlier effort to acquire stakes from two of his siblings did not receive board backing. He has since been critical of leadership under Milleri while simultaneously advocating for family reconciliation.

In a recent media interview, Leonardo Maria stated that he had instructed his legal counsel to withdraw all pending legal actions involving his family members, urging an end to internal conflicts. Meanwhile, representatives for both Basilico and Leonardo Maria declined to comment on the financial transaction, and Delfin's administration has also remained silent on the issue.