How much is Giovanni Ferrero’s net worth?
| net worth: | $28 billion |
|---|---|
| age: | 59 |
| Birth: | September 21, 1964 |
| gender: | Male |
| Height: | unknown |
| country of origin: | Italy |
| Sources of funds: | entrepreneur |
| Last Updated: | August 1, 2024 |
Introduction
Giovanni Ferrero is an Italian businessman from Italy.
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Ferrero took over the confectionery company Ferrero SpA following the death of his brother Pietro Ferrero in 2011.
He was born in Farigliano, Italy. In 1975 he moved to Brussels, Belgium, where he studied at European schools.[[
Giovanni Ferrero’s net worth is estimated to be around $28 billion.
early life
Giovanni Ferrero was born on September 21, 1964 in Farigliano, Italy.
Ferrero’s real name is Maria Franca Fisciolo and Michele Ferrero is the owner of the multinational confectionery corporation Ferrero.
In 1975 he moved to Brussels, Belgium, where he studied at European schools. He then moved to the US, where he studied marketing at Lebanon Valley College.
Livelihood
Ferrero International was founded in 1946 by Giovanni Ferrero’s grandfather, Pietro Ferrero, a pastry maker who founded Nutella.
The founder of the company was succeeded by his son Michele who, together with his wife Maria, relaunched Pietro’s recipe as the Nutella we know today.
Thanks to the company, Ferrero became one of the richest people in the world, with a fortune estimated at billions.
In 1997 Giovanni became joint CEO of the company alongside his brother Pietro Jr., who later died of a heart attack in 2011.
Ferrero’s early career
Giovanni Ferrero moved to Brussels, Belgium in 1975, where he studied at European schools before moving to the United States.
In the US he studied marketing at Lebanon Valley College, after which he returned to Europe to join his family’s business.
Early in his tenure, Ferrero placed great emphasis on secrecy within the company to guard against industrial espionage.
The company has never held a press conference, and does not allow any media organizations to enter its manufacturing plant.
All Ferrero products are made on machines that are specially designed by the in-house engineering department to ensure no leakage.
However, since Giovanni became the sole CEO, more and more press has become available about the company and its interests.
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As Mark Zuckerberg learned, when you’re running a billion-dollar industry, it can be hard to keep everything completely secret.
Ferrero takes control
Under the leadership of Giovanni Ferrero, Ferrero acquired the world’s largest hazelnut supplier, the Olton Group, in 2014.
That year it was estimated that Ferrero was the world’s largest nut consumer, purchasing 25% of total global production.
Shortly after purchasing Oltan, Giovanni oversaw the purchase of British chocolate retailer Thorntons for £112 million.
In 2016, they acquired Belgian biscuit brands Deliciouschoc and Delacre from United Biscuits.
The following year, he struck a deal with 1-800-FLOWERS to purchase American chocolate maker Fannie May.
The deal was finalised in May 2017, and Ferrero paid $115 million for the company, hoping to expand the brand across the US.
After just a few years in sole control, Giovanni has proven to be just as astute as Rob Walton when it comes to business sense.
Giovanni’s Recent Business Dealings
Along with purchasing Fannie Mae in 2017, Giovanni Ferrero oversaw the acquisition of the Ferrara Candy Company, a deal that was completed in December.
A year later, Ferrero purchased Nestlé’s American confectionery business for $2.8 billion, including brands such as Baby Ruth and Butterfinger.
In 2019, Giovanni Ferrero expanded his company’s US operations by purchasing several businesses owned by Kellogg’s.
These include well-known brands such as Famous Amos, Mother’s, and Little Brownie Bakers, which is one of the producers of Girl Scout Cookies.
These brands were joined by a leased manufacturing facility in Baltimore, six additional facilities across the country, and two plants in Chicago.
Subsequently, Ferrero acquired Campbell Soup Company’s stake in the Kelson Group and purchased the UK company Fox’s Biscuits.
In 2022, Ferrero purchased Fulfill Nutrition and Wells Enterprises, known for its Blue Bunny, Bomb Pop, and Halo Top brands.
Most recently, Giovanni oversaw the acquisition of Naples-based bakery company Fresysteme SpA in February 2023.
He may not be as rich as Elon Musk, but there’s no denying that Giovanni Ferrero has helped build an unshakable confectionery empire.
Giovanni Ferrero Net Worth
Giovanni Ferrero’s net worth is estimated to be around $28 billion.
Highlights
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Here are some of the best highlights from Giovanni Ferrero’s career:
- Ferrero headed Ferrero SpA
- He became joint CEO of Ferrero (1997)
Favorite quotes from Giovanni Ferrero
“Tradition is like a bow. The more we pull the bowstring, the farther we can throw the arrows of modernity and innovation.” – Giovanni Ferrero
“Soon, we will be able to delist. We are pleased with the expansion opportunities in the British market that the purchase of Thorntons gives us.” – Giovanni Ferrero
“I am confident that Mr. Lapo Civiletti will ensure continuity in reaching business goals and effectively support the Group in its growth objectives. He has been chosen for his business acumen, vision and mission-driven orientation, while genuinely promoting the Ferrero culture and core values.” – Giovanni Ferrero
“I am confident that the new regime will drive the growth of our company while also staying true to our roots. It will be the necessary step to combine the “best of our worlds”: our distinctive entrepreneurship, our managerial excellence and the quality of all our people, a perfect blend for success.” – Giovanni Ferrero
3 life lessons from the Ferrero family
Now that you know all about Giovanni Ferrero’s net worth and how he achieved success; let’s take a look at some of the most important things we can learn from him and his family:
1. Seize the opportunity
Ferrero’s father, pastry maker Pietro, is credited with creating the Nutella recipe. He added hazelnuts to the first batch in 1964 when there was a cocoa shortage – but it was Michele who created the Nutella brand and decided to make it accessible to the masses. Ferrero is estimated to be the fourth-largest chocolate confectionery company in the world.
More than 365,000 tonnes of Nutella are produced each year in 11 factories worldwide.
The company’s largest market is Germany, followed by Italy and France.
2. Innovation is the key
Not satisfied with just one product, Ferrero developed Kinder chocolate in 1968 and has won the hearts of children worldwide since Kinder Surprise eggs became available in 1974. According to Ferrero’s website, more than 30 billion Kinder Surprise eggs have been sold.
3. Give back to your community
The foundation provides financial support to former employees who have worked for the Ferrero Group for at least 25 years and supports educational, creative and recreational initiatives for all former employees. Give Back.
Frequently Asked Questions
How much is Giovanni Ferrero worth?
Giovanni Ferrero’s net worth is estimated at $28 billion.
How old is Giovanni Ferrero?
Giovanni Ferrero was born on 21 September 1964 and currently, he is 59 years old.
How tall is Giovanni Ferrero?
Giovanni Ferrero’s height is unknown.
Summary
Giovanni Ferrero is Italy’s richest man and the billionaire behind the Ferrero Group.
The Ferrero Group is the world’s second-largest chocolate manufacturer and the maker of Nutella, Ferrero Rocher and Tic Tac.
Ferrero will lead the Group forward with a focus on long-term strategies, new business directions and unprecedented innovation, while ensuring continuity in the company’s culture and values.
Giovanni Ferrero’s net worth is estimated to be around $28 billion.
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Category: Net worth