Owner of Nutella Passes Away

Michele Ferrero, Italy's wealthiest man who created the globally-popular Nutella spread, has died at the age of 89.

The wealthy confectioner, who was worth an estimated $26-billion and ranked 22nd on the Forbes list of billionaires, led the Fererro group which also created products like Kinder chocolates, Ferrero Rocher and Tic Tacs. According to the company, Ferrero had been ill for a while although no official cause of death has been announced.