Michele Ferrero & family’s profile picture

Michele Ferrero & family

Michele Ferrero & family’s profile picture
Net worth 2018: $26.5 Billion
Country: Italy
BirthDay: 26 April 1925
Sigh: Taurus
Died On: 14/02/2015
Children: 2
BIOGRAPHY

Michele Ferrero & family was bornon 26 April 1925 in Italy. Michele Ferrero, who built his father's sweets company into a global candy empire best known for its Nutella chocolate hazelnut spread, passed away in February 2015 at age 89. Ferrero Group products also include Kinder, Ferrero Rocher and Tic-Tac. Michele's father Pietro got his start during World War II in northern Italy, where he set up a lab to supply his wife's pastry shop. Faced with rationed cocoa, he used the region's plentiful hazelnuts to create a spread that would eventually become Nutella. In 1949 Pietro died, briefly leaving the company in his brother's hands before son Michele took over. Starting in 1957, Michele aggressively targeted overseas markets while developing new brands and products. The following decades saw Ferrero grow across Europe, South America, Asia, and Australia, while he focused on new products such as the Ferrero Rocher hazelnut chocolates. In 1987, Michele made his sons Pietro and Giovanni co-CEOs. In 2011, Pietro, a cycling enthusiast, died suddenly during a bicycle training ride in South Africa. Giovanni, a published novelist, stepped into the role of chief executive full time.

NET WORTH STATISTIC
2010

$17 Billion

2011

$18 Billion

2012

$19 Billion

2013

$20.4 Billion

2014

$26.5 Billion

2018

$26.5 Billion

TIMELINE
2015

Ferrero died on 14 February 2015, at his home in Monte Carlo, Monaco

2014

In May 2014, the Bloomberg Billionaires Index listed Ferrero as the 20th richest person in the world

2011

Pietro died on 18 April 2011, after an accident in South Africa

2008

He was the richest person in Italy, with a personal wealth of $26bn surpassing Silvio Berlusconi in March 2008

1997

From 1997, his sons, Giovanni Ferrero and Pietro Ferrero, co-led the company

1962

Ferrero married Maria Franca Fissolo in 1962, and they had two sons together, Giovanni Ferrero and Pietro Ferrero Jr

1925

Michele Ferrero was born on 26 April 1925 in Dogliani, the son of Pietro Ferrero, who founded the Ferrero company, and his wife Piera Cillario

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