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What’s Giovanni Ferrero Net Worth?
Giovanni Ferrero, an Italian businessman and the executive chairman of Ferrero SpA, has an estimated net worth of $43.3 billion, making him the richest person in Italy according to Forbes. He has amassed significant wealth through his leadership of the Ferrero Group, a global confectionery giant known for brands like Nutella, Ferrero Rocher, and Tic Tac.
His net worth has seen substantial growth over the years. In October 2022, it was estimated at $37.6 billion, ranking him as the wealthiest individual in Italy and 28th globally. Earlier estimates in 2020 placed his net worth at $32 billion.
Under Giovanni’s leadership, Ferrero Group has continued to grow, achieving a consolidated turnover of €17 billion for the financial year ending August 31, 2023, a 20.7% increase from the previous year.
Here’s the breakdown of Giovanni Ferrero’s net worth:
Name: | Giovanni Ferrero |
Net Worth: | $43.3 Billion |
Date of Birth: | Apr 1, 1983 |
Profession: | Internet entrepreneur |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life
Giovanni Ferrero was born on April 2, 1964, in Farigliano, Italy to parents Michele Ferrero and Maria Franca Fissolo. His father Michele was the owner of the multinational confectionery company Ferrero SpA.
In 1975, at the age of 11, Giovanni moved to Brussels, Belgium where he studied at the European Schools. He later moved to the United States to study marketing at Lebanon Valley College in Annville, Pennsylvania.
Career
After completing his studies in the US, Giovanni Ferrero returned to Europe and joined the family business Ferrero SpA in the 1980s. His first role was in the marketing department for the Tic Tac brand in Belgium.
In 1997, Giovanni’s father Michele handed over the leadership of Ferrero to Giovanni and his elder brother Pietro. The two brothers took an aggressive approach to marketing Ferrero products globally and developing new brands under the company’s umbrella. This strategy led to tremendous growth for Ferrero, expanding its reach across Europe, Asia, South America, and Australia within a few years.
Until 2011, Giovanni and Pietro jointly held the position of CEO at Ferrero. However, that year Pietro tragically passed away in a cycling accident in South Africa. This led to Giovanni becoming the sole CEO of the Ferrero Group, while his father Michele remained as the executive chairman.
After Michele’s death in 2015, Giovanni took over as the executive chairman of Ferrero SpA in addition to his CEO role. He held both positions for two years before stepping down as CEO in 2017 to focus on corporate strategy as the executive chairman.
Under Giovanni’s leadership, Ferrero has made its first-ever acquisitions, including the British chocolatier Thorntons in 2015 for $170 million and the American candy companies Ferrara in 2017 for $1.3 billion. In 2018, Ferrero acquired Nestle’s U.S. candy business for $2.8 billion in a major deal.
Personal Life
Giovanni Ferrero is married to Paola Rossi, and together they have two sons. The family resides in Berchem-Sainte-Agathe, just outside Brussels, a location that offers privacy and tranquility.
Beyond his business achievements, Ferrero is also a writer, having published several works including “Marketing progetto 2000. La gestione della complessità” in 1990, and novels such as “Stelle di tenebra” (1999), “Campo Paradiso” (2007), and “Il canto delle farfalle” (2010). His foray into literature reveals a creative side that complements his entrepreneurial spirit.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
