Michele Ferrero
Michele Ferrero | |
|---|---|
| Born | Template:Birth date Dogliani, Italy |
| Died | February 14, 2015 (aged 89) Monte Carlo, Monaco |
| Occupation(s) | Entrepreneur, businessman |
| Years active | 1949–2015 |
| Known for | Owner of Ferrero SpA, creator of Nutella |
Michele Ferrero (26 April 1925 – 14 February 2015) was an Italian billionaire entrepreneur and proprietor of Ferrero SpA, which was Europe's second-largest confectionery manufacturer at the time of his passing. He transformed his father's modest bakery in Alba, Piedmont into a major enterprise. One of his notable contributions, created alongside Francesco Rivella, involved incorporating vegetable oil into the traditional gianduja mixture, resulting in the widely beloved spread Nutella.
Early life
Ferrero was born on 26 April 1925 in Dogliani as the sole offspring of Pietro Ferrero, the founder of the Ferrero company, and Piera Cillario.
Career
Beginning his career at the family business in 1949, Ferrero eventually became Italy's wealthiest individual with a net worth of $26 billion, overtaking Silvio Berlusconi in 2008. By May 2014, he was ranked as the 20th wealthiest person worldwide according to the Bloomberg Billionaires Index.
His brand portfolio features prominent names such as Nutella, Mon Chéri, Kinder Chocolate, Ferrero Rocher, Tic Tacs, and Kinder Eggs. Since 1997, leadership was shared by his sons Giovanni Ferrero and Pietro. Following Pietro's sudden passing from a heart attack while cycling in South Africa in 2011, Giovanni assumed sole responsibility as CEO.
Personal life and death
In 1962, Ferrero wed Maria Franca Fissolo, with whom he had two sons, Giovanni Ferrero and Pietro Ferrero Jr..
A committed Catholic, he made annual pilgrimages to the shrine at Lourdes and ensured that a statue of the Madonna was present in every factory and office. During the company's 50th anniversary celebration, he attributed their achievements to Our Lady of Lourdes.
Ferrero passed away on 14 February 2015 at his residence in Monte Carlo, Monaco, following a prolonged illness. He was aged 89.
Distinctions
- Knight of the Order of Merit for Labour (1971)
- Knight Grand Cross of the Order of Merit of the Italian Republic (2005)