Background
He owned the chocolate manufacturer Ferrero Società per Azioni, Europe"s second largest confectionery company, which he developed from the small bakery and café of his father in Alba, Piedmont.
He owned the chocolate manufacturer Ferrero Società per Azioni, Europe"s second largest confectionery company, which he developed from the small bakery and café of his father in Alba, Piedmont.
His first big success was adding vegetable oil to the traditional gianduja paste to make the popular spread, Nutella. Michele Ferrero was born on 26 April 1925 in Dogliani, the son of Pietro Ferrero, who founded the Ferrero company, and Piera Cillario. Ferrero joined the firm in 1949.
He was the richest person in Italy, with a personal wealth of $26bn surpassing Silvio Berlusconi in March 2008.
In May 2014, the Bloomberg Billionaires Index listed Ferrero as the 20th richest person in the world. Ferrero"s brands include Nutella, Mon Chéri, Kinder Chocolate, Ferrero Rocher, Tic Tacs and Kinder Eggs.
Pietro died on 18 April 2011, after an accident in South Africa. Giovanni became the sole Chief Executive Officer.