Michele Ferrero died a very rich man. And he started off with very little, but hit upon the golden eggs nest when he concocted the ever-popular Nutella. In fact, he built a whole confectionery empire around it.
Mr. Ferrero was always recognised as one of Italy’s leading businessmen. But it was Ferrero’s father who first laid down the foundations for the Nutella recipe, and crucially added hazelnut to save money on chocolate.
Ferrero was Italy’s richest man at the time of his death. His empire also owns patents for other famous products like TicTacs, Ferrero Rocher, and Kinder eggs.
He leaves behind a company with an annual turnaround of about €8bn.