Although Pietro Ferrero lived a relatively short life, dying at the age of 50 in 1949 (just three years after he invented the product that would launch an empire), his legacy continues to grow to this day. His son Michele relaunched the Nutella brand in 1964, building it into the world beater it is today and selling in over 160 countries. By the time of Michele’s death in 2015, at which time he was estimated to be Italy’s richest man, the Ferrero name had already been synonymous with a range of household confectionary favourites for decades, namely Kinder, Ferrero Rocher, Mon Cheri and mouth-freshener brand Tic Tac. Succeeded in 1997 by his own two sons, Pietro Jr. and Giovanni, the family suffered a tragedy in 2011 when the former suffered a fatal heart attack while riding his bicycle in South Africa. Having taken over sole stewardship of the Ferrero group forthwith, Giovanni now sits in 26th position on Bloomberg’s Billionaire list, with an estimated fortune of USD$31.9 billion. Having inaugurated the company’s first overseas plant in Germany in 1956, since the passing of his father Michele in 2015, Giovanni has sought a strategy of growth by acquisition, buying up portions of some of the world’s biggest chocolate and confectionary brands. The Ferrero name continues to have a place in the hearts of all Italians.
