Creator Of Nutella, Italy's Richest Man Dies At 89

LOS ANGELES (CBSLA.com)  —   Michele Fererro, the creator of Nutella and Italy's richest man, has died.

Ferrero was 89.

Ferrero, the son of the founder of the chocolate/confections company that bore the family name, died on Valentine's Day in Monaco.

Ferrerro SpA is one of Europe's leading companies with sales approaching $20 billion annually.

Michele Ferrero joined the family business in 1949. He had a personal worth of about $26.7 billion, according to the company website. Forbes and Bloomberg Billionaires have both listed him as the 20th richest man in the world.

The company's brands includes Nutella (first sold in 1964), Kinder, Tic Tacs, Mon Cheri and Kinder Eggs.

Nutella is sold in 100 countries, February 5 is officially World Nutella Day.

Ferrero's two sons ran the company beginning in 1997. Son Pietro died in 2011 in an accident in South Africa.

Devoutly religious, Ferrero had statues of the Madonna in almost every production facility and office.

The company website was turned into a large Thank You note to Michele on Saturday.