Owner and maker of Nutella and Ferrero Rocher chocolates dies aged 89 years

The world's richest confectionery boss, whose empire includes Nutella spread and Ferrero Rocher chocolates, has died aged 89.

Michele Ferrero, who had been unwell for months, was surrounded by his family when he died on Saturday in Monte Carlo where he lived.

 

Last year, Forbes ranked the family 30th on the list of the world's richest billionaires with a fortune of around £15bn.

 

 

The Ferrero group's products also includes Tic Tacs and Kinder chocolate eggs.

 

Italian President Sergio Mattarella praised Mr Ferrero

 

He said: "I have learnt with emotion of the passing of Michele Ferrero, a true entrepreneur, known and loved in Italy and abroad.

 

"Ferrero was a leading light in Italian business for many years, always managing to stay on trend thanks to his innovative products and his tenacious and cautious work.

 

"Italy remembers him with gratitude."

 

Mr Ferrero's father, Pietro, started making Nutella when cocoa was still rationed during World War Two.

 

Pietro opened his first chocolate laboratory in Alba, in Italy's northwest Piemonte region, in 1942 and the business was passed to Michele after his father's death in 1949.

 

Michele developed Kinder chocolates in 1968, Tic Tacs a year later and Ferrero Rocher in 1982.  By 1997, he had handed over the running of the company to his two sons, Pietro and Giovanni.

 

Pietro died in 2011 after suffering a cardiac arrest, leaving Giovanni the sole chief executive.   

Michele Ferrero is survived by his wife, Maria Franca, and Giovanni.