Michele Ferrero was the long-time chairman of Ferrero S.p.A. until relinquishing control of operations to his two sons in 1997. Michele Ferroro resided in Monte Carlo until he died on February 14 2015, but is considered Italy’s richest man through his nationality, with a personal wealth of $26 billion.
Founded by Michele Ferrero’s father, Pietro, in 1946, Ferroro S.p.A. was initially created to market Nutella, an invention of Pietro. However, it was not until Michele took control of the company that it expanded into a global corporation with famous brands including Nutella, Ferrero Rocher, Kinder Eggs and Tic Tacs.
Like Michele Ferrero, Ferrero S.p.A. is not one to enjoy the spotlight. Since its founding in 1946, for example, the company has never held a press conference and even employs an in-house engineering and design department to build its confection-making machines.