Italy’s richest man died at his home in Monaco
Michele Ferrero has died at the age of 89.
The man who created the chocolate hazelnut spread – the cornerstone of any nutritious JOE breakfast – Ferrero Rocher, Tic Tacs and the Kinder egg passed away at his home in Monaco.
While Ferrero’s son Giovanni now runs the business, the senior entrepreneur regularly took helicopter journeys to the company’s headquarters in Alba, Northern Italy until a few years to taste and develop new products.
Ferrero’s father set up the business in 1946 but he was the one that grew it into a global empire worth billions, with the family the 30th richest on the planet with a net worth of £23.4bn.
He was known as a tough leader, who never let outside companies invest in the business, although he implemented generous working conditions and gave back to the community.
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