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However, one rule laid down by his now deceased father seems to abide: “Only on two occasions should the papers mention one’s name – birth and death.”. The resulting company is the world’s fourth largest confectioner with 22,000 employees in 20 locations across the world, a 72 per cent share of the chocolate spreads market and its own hazelnut plantations. You can find our Community Guidelines in full here. Please be respectful when making a comment and adhere to our Community Guidelines. Michele Ferrero died at home in Monaco after suffering from months of illness. He was 89. But rather like Roald Dahl’s fictitious candyman, Mr Ferrero preferred to let his creations do the talking and was rarely seen in public or gave interviews. The most insightful comments on all subjects will be published daily in dedicated articles. Food & drink industry • Michele Ferrero, confectioner, born 26 April 1925; died 14 February 2015. Later on, he was sent to the US for studying marketing. He tweaked the formula first dreamt up by his father, Pietro, in the backroom of his bakery in Alba, put the resulting goo in a jar with a white lid and turned it into his company’s best-known brand, selling 365,000 tons of the stuff a year. He leaves behind a family business that is responsible for bringing the world Nutella, Mon Cheri, Tic Tacs and Ferrero Rocher, among other iconic confectionery brands. Ferrero, who was widely regarded as the richest man in Italy and was the creator of Nutella, passed away at his home in Monte Carlo Saturday, reports nytimes.com. All Rights Reserved. Billionaire Michele Ferrero, who became Italy's richest man with a confectionary empire built on his popular Nutella spread, died on Saturday at the age of 89, Italian media said. Michele Ferrero, the Italian who built up the chocolate empire of Nutella and Ferrero Rocher, has died. Francesco Fulci, president of the Ferrero Foundation, said last year: “It’s not a company, it’s an oasis of happiness.”. Instead, until ill health struck a couple of years ago, he commuted from his Monte Carlo villa to the company headquarters in Alba to oversee the development of new products with the same single-minded focus that his own father had put into creating Nutella. If the world were seeking a real-life Willy Wonka, it would have struggled to get closer than Michele Ferrero, ... Pietro, died age 47 in 2011 after apparently suffering a heart attack. By 1997, Michele Ferrero handed over the running of the company to his two sons, Pietro and Giovanni. He woke up my grandmother at midnight and made her taste it with spoons, asking, ‘How was it?” and ‘What do you think?’”. His eldest son, Pietro, died age 47 in 2011 after apparently suffering a heart attack. After getting back from USA, … Michele Ferrero, Italy's richest man and the owner of a global chocolate and confectionery empire, died on Saturday aged 89, the company said. His death opens the question of succession and potential tie-ups at the family-controlled Ferrero group, which has sales of around 8 billion euros ($9 billion) and continued to grow through Italy's longest recession since World War Two. While it would be going too far to liken staff to Mr Wonka’s Oompa-Loompas, they have nonetheless benefited from Mr Ferrero’s brand of benevolent capitalism. Use of this site constitutes acceptance of our, World's Richest Candy Maker and Nutella Founder Died on Valentine's Day. Pietro died of a heart attack in 2011. Michele Ferrero, owner of the eponymous chocolate maker Ferrero SpA, has died at the age of 89. https://www.ft.com/content/f568759e-b4fc-11e4-b186-00144feab7de Michele Ferrero took over his family’s business when his father Pietro died in 1949 and in 1997, handing over the reins to his sons Pietro and Giovanni, who remains chief executive today. He used hazelnuts to stretch the little chocolate he had. He owned the chocolate manufacturer Ferrero SpA, Europe's second largest confectionery company (at the time of his death), which he developed from the small bakery and café of his father in Alba, Piedmont. The company was, until recently, famously reticent about its strategy or performance and maintains high security at its plants, where custom-made machines, including a bespoke hazelnut-toasting apparatus, churn out its products. That man is Michele Ferrero, Italy’s richest man. Create a commenting name to join the debate, There are no Independent Premium comments yet - be the first to add your thoughts, There are no comments yet - be the first to add your thoughts. Farewell to tycoon  behind Nutella, Kinder eggs and the diplomats’ favourite, Find your bookmarks in your Independent Premium section, under my profile. MILAN, Feb 14 (Reuters) - Michele Ferrero, Italy's richest man and the owner of a global chocolate and confectionery empire, died on Saturday, two workers within the company said. If the world were seeking a real-life Willy Wonka, it would have struggled to get closer than Michele Ferrero, the confectioner who seduced millions with his genius for mass-market chocolatey sweetmeats and yet remained an enigmatic recluse. Pietro Ferrero died in 2011 of a cardiac arrest, leaving Giovanni the sole CEO. Michele Ferrero was a man of few words and did not prefer any kind of publicity, so much so that Forbes Magazine has quoted Ferrero to be “one of Europe’s richest and most secretive tycoons”. Michele Ferrero attends the funeral of the heir to the Italian chocolate company Ferrero, Pietro Ferrero, in Alba, Italy on April 27, 2011. Who Should Be TIME’s Person of the Year for 2020? Nutella Founder Michele Ferrero Dies on Valentine's Day | Time You can also choose to be emailed when someone replies to your comment. Thousands are expected to gather in the northern Italian town of Alba for the funeral of the 89-year-old billionaire patriarch of the £8bn Ferrero confectionery empire, whose death in the tax haven of Monte Carlo was announced this weekend. Independent Premium Comments can be posted by members of our membership scheme, Independent Premium. His death is likely to spur talk of succession and potential tie-ups at the family-controlled Ferrero group, which has continued to grow even through Italy's longest recession since World War Two. Italian who invented Nutella, had died on Valentine ’ s Day 2015, the said! 89, the Italian who built up the chocolate empire made him Italy 's richest man, has died,... Website of his company, the younger Ferrero shifted to Brussels to study at European.. 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