Oct. 15 (Bloomberg) -- Hans Riegel, the billionaire owner of German candy maker Haribo GmbH, has died of a heart failure. He was 90.
Riegel died “unexpectedly” today in Bonn, the company said in an e-mailed statement. He had been successfully operated to remove a benign brain tumor and was “on the way to recovery,” Haribo said. Riegel’s assets totaled $4.2 billion, according to the Bloomberg Billionaires Index.
Riegel’s father, who had the same first name, founded the maker of Golden Bear and Chamallows candy in 1920 in Bonn. Hans rebuilt the company with his brother Paul after World War II. He led commercial operations while Paul, who died in 2009, ran the technical part of the business.
Haribo is an acronym of Hans Riegel Bonn, the names of the founder and the former West German capital.
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