Italy’s richest man, Nutella billionaire Ferrero dies

Billionaire Michele Ferrero, whose global chocolate empire made him Italy’s richest man, has died aged 89.

His privately-owned firm is famous for its chocolate-hazelnut Nutella spread, Ferrero Rocher chocolates, Kinder eggs and Tic Tac sweets.

Mr Ferrero died on Saturday at his Monaco home after months of illness, according to his company.

Italian President Sergio Mattarella called him a “born entrepreneur”.

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.

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