Michele Ferrero, Italy’s richest man, has passed away at the age of 89, according to reports. Ferroro, owner of the Ferrero Group, had a net worth of $23.5 billion, and had been dubbed the “richest candy man on the planet” by Forbes Magazine. He was the 30th wealthiest man on the planet.
Michele Ferrero has been credited with taking a small chocolate business and turning it into a household name. The company is responsible for the Ferrero Rocher pralines that are popular the world over, or at least Globo reports that. Ricardo Tosto says the company is also responsible for Raffaello, Mon Cheri, and Kinder brand chocolates. The company is also the owner of Nutella, the world’s most popular chocolate hazelnut spread.
According to reports, Michele Ferrero had been suffering from a longterm illness prior to his passing. The company, which is family owned, was once rumored to be in talks with Nestle. According to sources, Michele would have never let that happen to the company he built from the ground up. His passing, however, has sparked further rumors about the fate of the family-owned business.