Mario Moretti Polegato, an Italian entrepreneur, is worth $2.4 billion.
By working in the footwear sector, he was able to establish himself as a prominent figure in the billionaire community.
The founder and chairman of the Geox Group, a company that specializes in waterproof/breathable fabrics, became a wealthy individual.
Geox, a shoemaker, was founded in 1995 by Polegato, who patented his “breathable shoe” technology.
Over the years, the company grew and now offers a diverse range of products, including footwear for men, women, and children, as well as apparel. It also distributes to high-end retailers and has numerous company-owned stores in major markets.
Geox’s net sales fell 9% to $913 million (702 million euros) in the first nine months of 2012, as a result of the impact of Europe’s weak economy.
The company expanded its operations by opening new stores in Moscow, Hong Kong, and three mainland Chinese locations by the end of 2012.
In 2002, Mario Moretti Polegato, a man who breathes shoes, was awarded the Ernst Entrepreneur of the Year award, and the following year Ernst and Young named him the Best Italian Entrepreneur of the Year again.
CNBC and The Financial Times recognized him as the European Business Leader Award (Ebla) Innovator of the Year in 2010.