Owner of Italian chocolate company Ferrero dies at age 89

16-Feb-2015 - Italy

The owner of the Italian confectioner that makes Nutella and other chocolate sweets sold worldwide has died, the company said Saturday.

Michele Ferrero, 89, died in Monte Carlo after an illness that lasted months, according to the Ansa news agency, quoting the Alba-based company.

Nutella, a chocolate-hazelnut spread, was developed by Ferrero's father, Pietro, in 1940. Its name was changed from Supercrema to Nutella in 1964 and exports to Germany began one year later.

Ferrero was among the richest people in the world with a net worth of 22.3 billion dollars, ranking him the highest of any Italian and 31st in the world, according to Bloomberg.

Ferrero is one of the world's biggest confectionery companies. In addition to Nutella it makes Ferrero Rocher chocolate candy and Kinder Surprise chocolate eggs. (dpa)

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