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# Michele Ferrero

Random fact: Son Giovanni invited the press to company for the first time in 2011.

Overview

The Ferrero family controls Ferrero International, the world's fourth-largest chocolate maker. The Alba, Italy-based business operates 18 production plants and sells confections including Ferrero Rocher chocolates, Nutella spread and Kinder candy bars. The closely held company had revenue of $11 billion in 2015. The business was founded by Pietro and Piera Ferrero in 1946.

As of Sept. 22, 2017:
Last change ()
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Industry Food
Biggest asset N/A
Citizenship Italy
Age 89
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Michele Ferrero's net worth of can buy ...

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of the total wealth of the 500 richest people in the world
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

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Biography

Birthdate: 4/26/1925
Family: Married, 1 child

The main members of the Ferrero family are Giovanni and his late brother Pietro's family. Pietro died from a cycling accident in 2011 leaving behind his wife Luisa and two children.

Pietro and Piera Ferrero transformed their small pastry shop in Alba, Italy into a factory in 1946. Their son, Michele, is credited with the invention of products that made the company an international success. Michele passed over control of the company to his two sons, Giovanni and Pietro, in 1997. 

Today, Giovanni is leading the family business which reported sales of around $11 million in 2015, according to the company website.

Milestones
  • 1946 Founders Piera and Pietro Ferrero establish the Ferrero Company.
  • 1956 Opens its first foreign factory in Germany.
  • 1964 Develops Nutella, a hazelnut chocolate spread.
  • 1968 Introduces Kinder Chocolate and Pocket Coffee; Tic Tac a year later.
  • 1982 Ferrero Rocher is launched.
  • 1983 Nutella starts to be sold in the U.S.
  • 2011 Son and Ferrero CEO Pietro dies in a bicycle accident.
  • 2015 Acquires hazelnut roasting company Oltan and the confectionary, Thorntons.