Toddler Gets a Stake in LensCrafters Chain

The Italian head of the corporate parent of the LensCrafters optical chain has made his 2-year-old son one of the wealthiest toddlers in the world, according to weekend newspaper reports. Italian newspapers said Leonardo Del Vecchio gave his son, Leonardo Maria, a 24.4% stake in the family holding that controls eyeglass maker Luxottica, parent of LensCrafters. They said the shares are worth more than $555 million. The reports said Del Vecchio, 62, also gave his three grown children a similar stake in holding company Leonardo Finanziaria, but he retained control of the company. Luxottica executives were not available for comment.