17:56 GMT +316 December 2017
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    Italian Gianluca Vacchi attending Haute Living Celebrates J Balvin At Matador Room At The Miami Beach Edition With Buchanan's Whisky on July 5, 2017 in Miami Beach, Florida. (File)

    Rise & Fall of Instagram’s Famous Millionaire (PHOTOS, VIDEO)

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    Italian millionaire Gianluca Vacchi is a famous Instagram star and a playboy known for his lavish lifestyle, luxurious yachts and hot babes. Recently however, he has run into some financial trouble as some of his property has been seized by a bank.

    The 50-year-old millionaire is known for posting pictures of his parties, yachts and private jets. He is fit for his age, covered in tattoos and likes to brag about his flashy lifestyle making him a social media celebrity. 

    Sun with 50 (years) protection😉 #gvlifestyle @effek

    A post shared by Gianluca Vacchi (@gianlucavacchi) on Aug 6, 2017 at 5:11am PDT

    However, Vacchi is not just an heir to a family business – IMA group, which specializes in industrial packaging and pharmacy. It is run by his cousins and reportedly pays him about 5 million euros a year.

    He also owns the SEA Company, which produces trailers, as well as shares of Eurotech and Toy Watch. In addition, Vacchi founded his own watch brand called GV.

    Italian magazine Il Fatto Quotidiano estimated his net worth at 1.1 billion euros.

    Serendipity… @gutierrezary

    A post shared by Gianluca Vacchi (@gianlucavacchi) on Jul 31, 2017 at 12:08pm PDT

    The Italian millionaire has also written a book called “#Enjoy,” in which he writes about his decision to retire after 20 years of working at the family business to focus on himself.

    Vacchi has a building from 1781 in the city of Cortina D'Ampezzo in the Italian Alps, a house in Bologna with a museum, a spa with a large Turkish bath and a corridor full of shower jets.

    Today i wear the sun colours… #gvlifestyle

    A post shared by Gianluca Vacchi (@gianlucavacchi) on Jul 2, 2017 at 5:56pm PDT

    In Sardinia in Porto Cervo he owns a two-level mansion covering an area of 1,200 square meters, which is surrounded by two giant pools. It was here that most of his dance videos were filmed.

     

    La bicicleta…😂 @shakira @carlosvives @jogiorgiajo #labicicleta #shakira #carlosvives #gvlifestyle

    A post shared by Gianluca Vacchi (@gianlucavacchi) on Jan 29, 2017 at 7:21am PST

     

    However, recently he had a yacht, a few of his villas and his shares in the Casalunga Golf Club seized over a 10.5 million euro debt, according to Quotidiano.

    But Vacchi is not too sad about it. In an interview with Quotidiano, he dismissed the suggestion that he was in financial trouble saying that, “It is just a little debt.”

    What will happen to the Instagram star after the seizure of some of his property is still unknown. A recent photo on his page shows him enjoying yet another fancy party with his supermodel girlfriend.

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    Tags:
    millionaires, lifestyle, social media, financial crisis, society, celebrity, instagram, Gianluca Vacchi, Italy
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