Owner of Nutella Empire Passed Away on Saturday

(Image credit: Forbes)

Sad news for chocolate-hazelnut spread fans: Michele Ferrero, Italy’s richest man and owner of the Nutella empire, passed away this past Saturday.

Ferrero had an estimated $23.4 billion dollars, making him the 30th richest man in the world.

Ferrero took over the reins of the company from his father in 1957. He was co-CEO with his brother, who passed away in 2011. Alongside Nutella, Ferrero was the owner of Kinder chocolates, Ferrero Rocher, and Tic Tacs.