The Man Behind Nutella, Ferrero Rocher and Tic Tacs DiesMichele Ferrero, the leader of the Ferrero Group and the richest person in Italy, died at age 89.
ByKate Taylor•
Opinions expressed by Entrepreneur contributors are their own.
Michele Ferrero, a hero for Nutella lovers and role model for entrepreneurs everywhere, died on Saturday.
The owner of Ferrero Group passed away at age 89, according to the company. Ferrero – the richest man in Italy – made hisestimated $23.4 billion fortuneby creating and selling some of the world's most loved chocolate treats.
While Ferrero's father, Pietro Ferrero, was the original creator of Nutella in 1944, Michele Ferrero was the one who grew the family pastry shop turned confectionery factory into an enormous international business. Under Michele's leadership, the company invented famous products such as Kinder chocolates, Ferrero Rocher and Tic Tacs.
Related:Quiznos Is Pulling the Plug on TV Ads. Here's Why.
Michele Ferrero's younger son, Giovanni Ferrero, has been running the company since 2011, when Michele's eldest son and intended heir to Ferrero Group unexpectedly died of a heart attack,reportsReuters. With the death of Michele,Reutersreports that the future of the company's succession is unclear, as Giovanni is rumored to be less than fully committed to running Ferrero Group.
While Michele Ferrero refused to let the family company be bought by outsiders, in late 2013 there wererumors雀巢已经给狗买费列罗集团。Giovanni maintained that the company was not for sale. However, with the entrepreneur that turned a local sweets business into thefifth largest chocolate company in the worldgone, the future of Ferrero is perhaps more fluid than it has been since the 1940s.
Related:Dunkin' Makes Croissant Donuts a Permanent Menu Item, Adds Boston Kreme Version
