Michele Ferrero

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Michele Ferrero
Michele Ferrero.jpg
Born(1925-04-26)26 April 1925
Died14 February 2015(2015-02-14) (aged 89)
ResidenceMonte Carlo, Monaco [1]
CitizenshipItalian
OccupationOwner of Ferrero SpA
Known for Nutella, Mon Chéri, Kinder Chocolate, Ferrero Rocher, Tic Tacs, Kinder Eggs
Net worthIncrease2.svg US$ 26.7 billion (May 2014) [1]
Spouse(s) Maria Franca Fissolo [2]
Children Pietro
Giovanni
Parent(s) Pietro Ferrero
Piera Cillario
Website www.ferrero.com

Michele Ferrero (Italian pronunciation:  [miˈkɛːle ferˈrɛːro] ; 26 April 1925 – 14 February 2015) was an Italian entrepreneur. He owned the chocolate manufacturer Ferrero SpA, Europe's second largest confectionery company (at the time of his death), [3] which he developed from the small bakery and café of his father in Alba, Piedmont. His first big success was adding vegetable oil to the traditional gianduja paste to make the popular spread, Nutella. [4]

Ferrero SpA Italian manufacturer of chocolate and confectionery products

Ferrero SpA is an Italian manufacturer of branded chocolate and confectionery products and it is the second biggest chocolate producer and confectionery company in the world. It was founded in 1946 in Alba, Piedmont, Italy, by Pietro Ferrero, a confectioner and small-time pastry maker who laid the groundwork for Nutella and famously added hazelnut to save money on chocolate. The company saw a period of tremendous growth and success under Pietro's son Michele Ferrero, who in turn handed over the daily operations to his sons. His son Pietro, who oversaw global business, died on April 18, 2011, in a cycling accident in South Africa at the age of 47.

Alba, Piedmont Comune in Piedmont, Italy

Alba is a town and comune of Piedmont, Italy, in the province of Cuneo. It is considered the capital of the UNESCO Human Heritage hilly area of Langhe, and is famous for its white truffle, peach and wine production. The confectionery group Ferrero is based there. The city joined the UNESCO Creative Cities Network in October 2017.

Gianduja or gianduia is a sweet chocolate spread containing about 30% hazelnut paste, invented in Turin during Napoleon's regency (1796–1814).

Contents

Early life

Michele Ferrero was born on 26 April 1925 in Dogliani, [5] the son of Pietro Ferrero, who founded the Ferrero company, and his wife Piera Cillario. [2]

Dogliani Comune in Piedmont, Italy

Dogliani is a comune (municipality) in the Province of Cuneo in the Italian region Piedmont, located about 60 kilometres (37 mi) southeast of Turin and about 35 kilometres (22 mi) northeast of Cuneo.

Pietro Ferrero founder of Ferrero SpA

Pietro Ferrero was the founder of Ferrero SpA, an Italian confectionery and chocolatier company. His company invented Nutella, a hazelnut-cream spread, which is now sold in over 160 countries. The famous Ferrero Rochers are also made by his company, Ferrero, as were Tic-Tacs and various Kinder chocolates.

Career

Ferrero joined the firm in 1949. [6]

He was the richest person in Italy, with a personal wealth of $26bn [1] surpassing Silvio Berlusconi in March 2008. In May 2014, the Bloomberg Billionaires Index listed Ferrero as the 20th richest person in the world. [7]

Silvio Berlusconi Italian politician

Silvio Berlusconi is an Italian media tycoon and politician who has served as Prime Minister of Italy in four governments.

Ferrero's brands include Nutella, Mon Chéri, Kinder Chocolate, Ferrero Rocher, Tic Tacs and Kinder Eggs.

Nutella is a brand of sweetened hazelnut cocoa spread. Nutella is manufactured by the Italian company Ferrero and was first introduced in 1965, although its first iteration dates to 1963.

Mon Chéri trademark

Mon Chéri is an internationally known brand name of the Italian Ferrero company for a chocolate confectionery.

Kinder Chocolate is a confectionery product brand line of Italian confectionery multinational Ferrero. Created by Michele Ferrero, Kinder was originally developed and produced in 1968 for the Italian market, before being sold in the countries along the Mediterranean Sea. Currently, Kinder includes 22 brands, sold in over 125 countries worldwide.

From 1997, his sons, Giovanni Ferrero and Pietro Ferrero, co-led the company. [8] [9] Pietro died on 18 April 2011, after an accident in South Africa. [10] Giovanni became the sole CEO. [10]

Giovanni Ferrero is an Italian businessman. He assumed the leadership of the confectionery company Ferrero SpA after the death of his brother Pietro Ferrero in 2011. He has a net worth of $21.9 billion as of June 2018, according to Bloomberg.

Pietro Ferrero Jr. Italian businessman

Pietro Ferrero was the joint CEO of Italian confectionery company Ferrero SpA, from 1997 until his death in April 2011.

Personal life

Ferrero married Maria Franca Fissolo in 1962, and they had two sons together, Giovanni Ferrero and Pietro Ferrero Jr. [2]

Maria Franca Fissolo is an Italian billionaire, the widow of Michele Ferrero, and the owner of Ferrero SpA, Europe's second-largest confectionery company.

He was a fervent Catholic. Ferrero visited the Lourdes shrine annually, and had a Madonna placed in every factory and office. [6] Ferrero died on 14 February 2015, at his home in Monte Carlo, Monaco. He was 89. [11] [12] [13]

See also

Related Research Articles

Kinder Surprise candy

Kinder Surprise, also known as Kinder Egg or Ovetto Kinder or Kinder Surprise Egg, is a candy manufactured by the Italian company Ferrero since 1974. It was co-created by Michele Ferrero and William Salice, and is one of several candies sold under the Kinder brand. Each chocolate egg surrounds a plastic capsule that contains a small toy. Kinder Surprise was originally created with children in mind, replicating an Italian Easter family tradition in which adults give children large chocolate eggs with a toy inside. However, Kinder Surprise toys have become collectible for adults as well. Since 1974, 30 billion Kinder Surprise eggs have been sold worldwide.

Ferrero Rocher Chocolate

Ferrero Rocher is a chocolate and hazelnut confectionery produced by the Italian chocolatier Ferrero.

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References

  1. 1 2 3 "Michele Ferrero Forbes Profile". Forbes . March 9, 2011. Retrieved April 25, 2011.
  2. 1 2 3 "The Story of a Family". Ferrero.com.
  3. Various (30 October 2015). Hachette Children's Yearbook& Infopedia 2016. Hachette India. p. 37. ISBN   978-93-5195-041-7.
  4. "Sweet secrets", The Economist, p. 90, 21 February 2015
  5. "Michele Ferrero compie 85 anni" [Michele Ferrero turns 85]. Il Sole 24 Ore (in Italian). 25 April 2010.
  6. 1 2 Hooper, John (28 October 2011). "Ferrero unwrapped: Italy's secretive confectioner opens its doors". The Guardian. Retrieved 14 February 2015.
  7. "Bloomberg Billionares Index". Bloomberg LP. Archived from the original on December 14, 2012. Retrieved December 3, 2012.
  8. Ferrero SpA – Company History. Fundinguniverse.com. Retrieved on 2011-11-03.
  9. Forbes. Retrieved on 2014-05-18.
  10. 1 2 "Italian chocolate boss Ferrero dies in S. Africa accident". 18 April 2011.
  11. La Stampa
  12. Rhodan, Maya (15 February 2015). "World's Richest Candy Maker and Nutella Founder Died on Valentine's Day". Time.
  13. "Cattedrale gremita per la Messa in memoria di Michele Ferrero - Gazzetta d'Alba - Dal 1882 il settimanale di Alba, Langhe e Roero". Gazzettadalba.it. Retrieved 2016-05-19.