Italy's Richest Man And Owner Of Nutella Brand, Dies Aged 89

Michele Ferrero, the world’s richest confectionery maker has died, officials said. He was 89.

Sergio Mattarella, Italy’s president, praised Ferrero as one of the protagonists of Italian industry, “always ahead of his time thanks to innovative products and his tenacious and reserved work”.

Ferrero was the patriarch of the eponymous family empire best known for its Nutella and Ferrero Rocher chocolates, and which also brought Kinder Surprise eggs and Tic-Tacs to the world.

His father Pietro started making Nutella when cocoa was still rationed during the second world war, Forbes noted in ranking Ferrero and his family 30th on its list of the world’s richest billionaires, worth $23.4bn (£15.2bn).