Italian playboy Gianluca Vacchi, once dubbed “the coolest man on Instagram” by GQ magazine who is followed by more than 1.7 million users on Facebook is quickly turning into the internet’s laughing stock after he has had all of his assets seized in order to pay off his debts.
The 50-year-old who has been flaunting his wealth to over 11 million Instagram followers daily, has recently had his valuables seized by creditors. The property, which includes a yacht and several villas, is estimated to be worth around the $12 million mark.
The Bologna-born heir to a pharmaceutical fortune has been trolled in the past because of his cash-rich, work-free existence – a Facebook group titled “Find Gianluca Vachi a Job” has attracted a huge following.
After news about Vacchi’s assets being seized by bailiffs surfaced, many social media users have responded by posting pictures of themselves posing, Dan Bilzerian-style, in front of plastic paddling pools and pedalos. Many of the pictures mocking the Italian’s lifestyle are ironically tagged with hashtags reading ‘Enjoy’ – a shout-out to Vacchi’s autobiography, which documents his decision to give up work in the family business.
His stake in a golf course near Bologna has also been confiscated pending an arrangement with creditors who fear other debts may have been hidden, Quotidiano Nazionale reported.
When asked about what he owes, Vacchi famously claimed, “It is just a little debt,” compared against the value of his family’s business, IMA, a conglomerate which specializes in “automatic machines for the processing and packaging of pharmaceuticals, cosmetics, food, tea and coffee”. Unilad reports that an appeal for funds to pay off Vacchi’s debts has only attracted pledges of five euros by the end of last week.