Nutella Maker Is Richest Italian On World Billionaires List

Evidently, there is money in nuts, as Nutella maker Michele Ferrero ranks 29th on the Bloomberg Billionaires list of the world’s richest people. Bloomberg estimates his net worth at US$22.9 billion. Owner of Ferrero International, the world’s fourth-largest chocolate maker, Michele is Italy’s richest man. His company’s products include Nutella hazelnut and chocolate spread, Ferrero Rocher hazelnut chocolates, Kinder chocolate bars, Pocket Coffee chocolates and Tic Tac sweets. Nutella has won fans worldwide and there is even a World Nutella Day. The company started out as a family business, when Michele’s parents, Pietro and Piera, set up a sweet shop in Alba, Italy in 1942. The family used hazelnuts in the Nutella spread because chocolate was rationed during World War II. Pietro and his brother Giovanni founded Ferrero in 1946 and the business evolved into a confectionery factory. Michele assumed control of the Ferrero empire in 1949. Now, Ferrero International has more than 70 affiliated operations, in more than 100 countries. Another Italian to make it into the Bloomberg rankings at number 38, is spectacles maker Leonardo del Vecchio. Bloomberg estimates his net worth at US$18.3 billion. Del Vecchio is the founder and biggest shareholder of the world’s largest eyewear company, Luxottica Group, and operator of the LensCrafters and Sunglass Hut retail chains. If you want to make your own chocolate and hazelnut spread check this recipe out.