Michele Ferrero, the world’s wealthiest chocolatier and owner of the Nutella empire, died at his at his Monaco home after months of illness, aged 89
His privately-owned firm is famous for its chocolate-hazelnut Nutella spread, Ferrero Rocher chocolates, Kinder eggs and Tic Tac sweets.
The entrepreneur built the business founded by his parents in the 1940s into one of the world’s biggest confectionery companies.
Mr Ferrero’s father, a pastry maker named Pietro, developed the forerunner to Nutella in 1946, called Giandujot, combining a small amount of cocoa and lots of hazelnuts to make an affordable luxury at a time chocolate was expensive. Michele Ferrero turned the paste into the Nutella now known the world over, produced in 11 factories and sold in 160 countries. The first pot was made in 1964 and the company now produces around 365,000 tonnes of Nutella every year in 11 factories around the world.