--- description: Michele Ferrero was the patriarch of the Ferrero family, whose company spawned Ferrero Rocher chocolates. title: Nutella Founder Michele Ferrero Dies on Valentine's Day image: https://static.time.com/v3/assets/bltea6093859af6183b/blt9cf68395a757520f/69877f6355a8595eb0a85d63/michele-ferrero.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  * [Business](/section/business/) ## Business Update your preferences in [Account Settings](/account/preferences/) Close # World's Richest Candy Maker and Nutella Founder Died on Valentine's Day by [Maya Rhodan](/author/maya-rhodan/) ## Maya Rhodan Update your preferences in [Account Settings](/account/preferences/) Close Feb 15, 2015 6:15 PM CUT  Michele Ferrero attends the funeral of the heir to the Italian chocolate company Ferrero, Pietro Ferrero, in Alba, Italy on April 27, 2011. Michele Ferrero attends the funeral of the heir to the Italian chocolate company Ferrero, Pietro Ferrero, in Alba, Italy on April 27, 2011.Alessandro Di Mrco—EPA by [Maya Rhodan](/author/maya-rhodan/) ## Maya Rhodan Update your preferences in [Account Settings](/account/preferences/) Close Feb 15, 2015 6:15 PM CUT Italy’s richest man and the candy maker behind the iconic Nutella hazelnut spread died as millions of Americans indulged in his sweet creations on Valentine’s Day. Michele Ferrero, whose company spawned Ferrero Rocher chocolates and Kinder eggs, died at age 89 at his home in Monaco. According to [_BBC News_](http://www.bbc.com/news/business-31477547 "undefined"), Ferrero had been battling illness for months. Ferrero’s father created what would later be widely known as [Nutella](http://www.nutellausa.com/history.htm "undefined") during World War II when cocoa was in short supply. He used hazelnuts to stretch the little chocolate he had. Years later, Nutella is among one of the most beloved treats in Italy and across the world. _Forbes_ described Michele as the “[richest candy man on the planet](http://www.forbes.com/profile/michele-ferrero/ "undefined").” In a statement, according to the [_Associated Press_](http://www.cnbc.com/id/102426833 "undefined"), Italian President Sergio Mattarella said Ferrero was, “always ahead of his time thanks to innovative products and his tenacious work and reserved character.” ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/3710479/michele-ferrero/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/3710479/michele-ferrero/"},"headline":"World's Richest Candy Maker and Nutella Founder Died on Valentine's Day","datePublished":"2015-02-15T18:15:27.000Z","dateModified":"2026-02-22T04:26:21.293Z","description":"Michele Ferrero was the patriarch of the Ferrero family, whose company spawned Ferrero Rocher chocolates","url":"https://time.com/3710479/michele-ferrero/","keywords":["Italy"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt9cf68395a757520f/69877f6355a8595eb0a85d63/michele-ferrero.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Maya Rhodan","jobTitle":null,"url":"https://time.com/author/maya-rhodan/"}],"articleSection":"Business","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt9cf68395a757520f/69877f6355a8595eb0a85d63/michele-ferrero.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Owner of Italian chocolate company Ferrero dies at age 89","caption":"Owner of Italian chocolate company Ferrero dies at age 89","creditText":"Alessandro Di Mrco—EPA","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/business/","name":"Business"}},{"@type":"ListItem","position":2,"item":{"@id":"https://time.com/3710479/michele-ferrero/","name":"World's Richest Candy Maker and Nutella Founder Died on Valentine's Day"}}]},{"@context":"https://schema.org","@type":"VideoObject","name":"Know Right Now: Valentine's Day Chocolate Will Be Pricier Than Ever","description":"The price of cocoa harvested in West Africa has risen in the last year, causing chocolate producers to raise prices as well.","thumbnailUrl":"https://cdn.jwplayer.com/v2/media/ryHEA9Pe/poster.jpg?width=720","uploadDate":"2015-02-13T17:32:13.000Z","contentUrl":"https://cdn.jwplayer.com/manifests/ryHEA9Pe.m3u8","embedUrl":"https://time.com/3710479/michele-ferrero/","duration":"PT1M3S","potentialAction":{"@type":"SeekToAction","target":"https://time.com/3710479/michele-ferrero/?jw_start={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"}}] ```