Luxottica's founder and chairman, Leonardo Del Vecchio, 76, has found a solution to bequeath his wealth to the six children – Claudio, Marisa, Paola, Leonardo Maria, Luca and Clemente – he had with three wives, according to the daily La Repubblica. The daily said that each child will have a 16.38 percent stake in a Dutch-based foundation called Delfin 1, which will control a 67.8 percent stake in Luxottica and other assets. The children's mothers – Adriana Nervo, Nicoletta Zampillo and Sabina Grossi – will be compensated with real estate assets. Del Vecchio will be the sole board member of the foundation and will continue to exercise the voting rights on the shares transferred to Delfin 1. The new organization is being finalized with the help of the Milan-based legal practice Bonelli Erede Pappalardo, the newspaper said.

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