What is Giovanni Ferrero’s Net Worth?
| net worth: | $28 billion |
|---|---|
| age: | 59 |
| date of birth: | September 21, 1964 |
| gender: | male |
| high: | unknown |
| country of origin: | Italy |
| Source of wealth: | entrepreneur |
| Last updated: | August 1, 2024 |
introduce
Giovanni Ferrero is a businessman from Italy.
Ferrero took over the confectionery company Ferrero SpA in 2011 after the death of brother Pietro Ferrero.
He was born in Farigliano, Italy. In 1975 he moved to Brussels, Belgium, where he studied at the European School.[[
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 is the owner of the multinational confectionery group Ferrero, Maria Franca Fissolo and Michele Ferrero.
In 1975, he moved to Brussels, Belgium, to attend the European School. He then moved to the United States to study marketing at Lebanon Valley College.
Profession
Ferrero International was founded in 1946 by Giovanni Ferrero’s grandfather, Pietro Ferrero, a pastry chef who laid the foundation for Nutella.
The company was inherited by the founder’s son Michele, who, together with his wife Maria, relaunched Pietro’s recipe as Nutella as we know it today.
Thanks to this company, the Ferrero family became one of the richest people in the world, with a fortune of billions of dollars.
In 1997, Giovanni became co-CEO of the company along with his brother, Pietro Jr., who died of a heart attack in 2011.
Ferrero’s Early Career
In 1975, Giovanni Ferrero moved to Brussels, Belgium, to study at the European School there, before moving to the United States.
In the United States, he attended Lebanon Valley College to study marketing before returning to Europe to join the family business.
In the early days of his tenure, Ferrero attached great importance to confidentiality within the company to prevent industrial espionage.
The company has never held a press conference or allowed any media to visit its manufacturing plants.
All Ferrero products are produced on machines custom-designed by the in-house engineering department, so there are no leaks.
However, since Giovanni became sole CEO, reports about the company and its interests have increased.
As Mark Zuckerberg has learned, it’s hard to keep everything secret when you run a multibillion-dollar industry.
Ferrero dominates the market
Under the leadership of Giovanni Ferrero, Ferrero acquired the Oltan Group, the world’s largest hazelnut supplier, in 2014.
It was estimated that Ferrero was the world’s largest consumer of nuts that year, purchasing 25% of the global production.
Soon after acquiring Oltan, Giovanni oversaw the purchase of British chocolate retailer Thorntons for £112 million.
In 2016, he acquired Belgian biscuit brands DeliChoc and Delacre from United Biscuits.
The following year, he struck a deal to buy US chocolate maker Fannie May from 1-800-Flowers.
The deal was completed in May 2017, with Ferrero purchasing the company for $115 million, with the goal of expanding the brand across the United States.
In just a few years at the helm of the company on his own, Giovanni has proven that he has the same savvy business sense as Rob Walton.
Giovanni’s recent business transactions
In addition to the 2017 acquisition of Fannie May, Giovanni Ferrero was also responsible for the acquisition of Ferrara Candy Company, which was completed in December.
A year later, Ferrero bought Nestle’s U.S. confectionery business, which included brands such as Baby Ruth and Butterfinger, for $2.8 billion.
In 2019, Giovanni Ferrero acquired several Kellogg businesses, expanding his company’s presence in the United States.
These include such well-known brands as Famous Amos, Mother’s and Little Brownie Bakers, one of the producers of Girl Scout cookies.
The brands own a leased manufacturing facility in Baltimore, six plants across the country and two plants in Chicago.
Ferrero subsequently acquired Campbell Soup Company’s stake in the Kelsen Group and acquired the British Fox Biscuit Company.
In 2022, Ferrero acquired Fulfil Nutrition and Wells Enterprises, the latter of which is known for the Blue Bunny, Bomb Pop, and Halo Top brands.
Most recently, Giovanni oversaw the acquisition in February 2023 of Fresystem SPA, a Naples-based bread company.
He may not be as wealthy as Elon Musk, but there’s no denying that Giovanni Ferrero helped build an untouchable candy empire.
Giovanni Ferrero Net Worth
Giovanni Ferrero’s net worth is estimated to be around $28 billion.
emphasize
Here are some highlights from Giovanni Ferrero’s career:
- Ferrero Leads Ferrero SpA
- He became co-CEO of Ferrero (1997)
Favorite quotes from Giovanni Ferrero
“Tradition is like a bow. The tighter we draw it, the farther we can shoot the arrow of modernity and innovation.” – Giovanni Ferrero
“We will soon be able to delist. We are very pleased with the opportunity that the acquisition of Thorntons provides us to enter the UK market.” – Giovanni Ferrero
“I have every confidence that Mr. Lapo Civiletti will ensure the continued achievement of business objectives and effectively support the Group in achieving its growth targets. He has been chosen for his business acumen, vision and mission-driven orientation, while truly promoting the Ferrero culture and core values.” – Giovanni Ferrero
“I am confident that the new governance structure will facilitate the growth of our company while remaining true to our roots. It will be an important step in combining ‘the best of our respective fields’: our unique entrepreneurial spirit, our excellent management capabilities, and the quality of all our employees – a perfect combination for success.” – Giovanni Ferrero
3 life lessons from the Ferrero family
Now that you know about Giovanni Ferrero’s net worth and how he achieved his success; let’s take a look at some of the most important lessons we can learn from him and his family:
1. Seize the opportunity
Ferrero’s father was pastry chef Pietro, who invented the Nutella recipe. He added hazelnuts to his first batch of chocolate in 1964 when cocoa was in short supply, but it was Michele who created the Nutella brand and decided to bring it to the masses. It is estimated that Ferrero is the fourth largest chocolate confectionery company in the world.
Eleven factories around the world produce more than 365,000 tons of Nutella each year.
The company’s largest market is Germany, followed by Italy and France.
2. Innovation is key
Not content with just one product, Ferrero developed Kinder chocolate in 1968 and began winning the hearts of children around the world with the launch of Kinder Surprise Eggs in 1974. According to the Ferrero website, more than 30 billion Kinder Surprise Eggs have been sold.
3. Give back to the community
The Foundation provides financial support to former employees who have worked for the Ferrero Group for at least 25 years and offers educational, creative and recreational activities to all former employees. Giving back to the community.
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 September 21, 1964 and is 59 years old.
How tall is Giovanni Ferrero?
Giovanni Ferrero’s height is not known.
Summary
Giovanni Ferrero is the richest man in Italy and the mysterious billionaire behind the Ferrero Group.
Ferrero Group is the world’s second-largest chocolate maker and the manufacturer of Nutella, Ferrero Rocher and Tic Tacs.
Ferrero will drive the Group’s growth by focusing on long-term strategy, new business directions and breakthrough innovations, while ensuring continuity of its culture and values.
Giovanni Ferrero’s net worth is estimated to be around $28 billion.
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Categories: Net Worth
Source: svlsf.edu.vn