Michele Ferrero, owner of the eponymous chocolate maker Ferrero SpA, has died at the age of 89.
Ferrero, who was widely regarded as the richest man in Italy and was the creator of Nutella, passed away at his home in Monte Carlo Saturday, reports nytimes.com.
His death was announced on the website of his company, the Ferrero Group. However, the cause was not disclosed.
As per reports, Ferrero had been ill for several months.
Ferrero, who was born on April 26, 1925, took over the business after his father's death in 1949 and presided over its rapid global growth, opening the first international plants in Germany.
Today, the company operates in 53 countries.
He is survived by his son Giovanni and wife, Maria.