A family drama styled after the series Succession is shaking the Ray–Ban eyewear empire: The heir Leonardo Maria Del Vecchio has submitted a giant offer in the amount of $11.5 billion to purchase his siblings' share in the family holding company Delfin.

The bitter conflict surrounding the control of the fortune and one of the strongest companies in Italy has reached high pitches, as the 31–year–old Leonardo Maria Del Vecchio, son of the late Luxottica founder Leonardo Del Vecchio, publicly accused the Delfin board of directors of blocking his succession plan. Del Vecchio published an open letter just days before the crucial shareholders' meeting on June 30, and claimed that the issue turned from a financial problem into an issue of corporate governance, while attacking the management for raising objections only after the shareholders had already supported the principles of the move.

The acquisition plan focuses on buying a 25 percent stake held jointly by his siblings, Luca and Paola Del Vecchio. If the deal is completed, Leonardo Maria's share in the company will jump from 12.5 percent to 37.5 percent, which will make him the largest shareholder and will put an end to years of managerial uncertainty since the death of the family patriarch in June 2022. Back then, the fortune was divided equally among eight heirs, a structure that required a broad consensus and created a deadlock.

The Delfin holding company holds about 32.4 percent of the eyewear giant EssilorLuxottica, alongside significant holdings in leading banks and financial institutions such as UniCredit, Generali, and Monte dei Paschi di Siena. For the purpose of funding the deal, Del Vecchio is required to raise a financing package of about $11.4 billion from a consortium of banks including UniCredit, BNP Paribas, and Crédit Agricole – which is shaping up to be one of the largest financing deals ever executed by a private individual in Europe.