Michele Ferrero has died at the age of 89. Known as Italy's richest man, and the richest man in the confectionary business, Michele died on Valentine's Day after a spout of ill-health. The man who created Ferrero Rocher, every home's cupboard staple Nutella, Tic Tacs and the Kinder Egg passed away at his home in Montecarlo Ferrero's father set up the business in 1946 but he was the one that grew it into a global empire worth billions, 23.4 to be precise. In 1997, Michele handed the reigns over to his sons, Pietro and Giovanni. Pietro passed away in 2011, leaving Giovanni the sole CEO. [caption id="attachment_57641" align="alignnone" width="567"] 9. Nutella: We’re convinced that Nutella is made from hazelnuts and pure, sheer joy. Actually, we’re convinced that in the Nutella factory, there’s a fairy who just sprinkles rainbows and happiness into it. That’s the only logical explanation we have for why it tastes so amazing. We’re not sure we could cope without having a slice of toast covered in Nutella ever again (and by toast we mean shamelessly shovelling it into our mouths straight from the jar with a spoon).[/caption] Michele refused to let outside companies invest in the family business and the family were ranked 30th on Forbes’ list of the world's richest billionaires in 2014.