He was the richest man in Italy AND he has the Surprise egg invented …
Michele Ferrero is dead. As Italian media reported he died Saturday at the age of 89 years in Monaco.
The long-time head of the Ferrero Group, which was known primarily for its brands Nutella and children for several months was sick. According to the Italian news agency AG, he is to be buried in his home town of Alba in northern Italy.
Michele Ferrero had the family business from his father, the confectioner Pietro Ferrero, who in the 40s had the idea to replace in the production of a sweet cream prank expensive chocolate with cheaper hazelnuts. This was the beginning of the chocolate hazelnut spread, which, however, only in 1964 was named Nutella.
Michele took the helm in 1957, the company expanded into an internationally known chocolate company, invented, among others the chocolates Ferrero Rocher, Mon chéri, children chocolate and MonoBlocks.
The Group employs 22,000 employees welweit, has recently reported annual sales of more than eight billion euros. With an estimated fortune of more than 20 billion euros Michele Ferrero was, according to US magazine “Forbes” the richest man in Italy. From day to day business he had retired several years ago.
After the death of his eldest son Pietro, 2011, he handed over the management of the group to his younger son Giovanni.
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