March 5, 2024

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The billionaire family behind Nutella receives a profit of 750 million euros |  News

The billionaire family behind Nutella receives a profit of 750 million euros | News

The Italian billionaire family behind Ferrero, famous for its Nutella chocolate, receives €750 million in profits. This is evidenced by the annual accounts of Schenckenberg Holding Company. This amount is due to 75% of Giovanni Ferrero (59 years old), the grandson of Nutella inventor Pietro Ferrero. The powerful family man has been living in the Brussels area for years.

According to the business newspaper De Tijd, the amount is included in the annual accounts recently published by Schenkenberg. The Italian family runs their confectionery empire with the Luxembourg company located above Ferrero International. Dividends are about the same as last year. Then it reached 765 million euros.

Through dividends, a company distributes a portion of its profits to its shareholders. Since Giovanni Ferrero, who lives on Saint Genesius Road, owns about 75 percent of the holding company, he may be entitled to three-quarters of the amount, equivalent to approximately 563 million euros.

Since the tragic death of his brother Pietro in 2015, Giovanni Ferrero has remained alone at the helm of the Nutella empire, which also owns the Ferrero Rocher, Tic Tac and Kinder chocolate brands. The company has 32 factories worldwide, employs approximately 40,000 employees, is present in 170 countries and has a turnover of €12.7 billion.

Assets 40 billion euros

The fortune of Giovanni Ferrero (58 years old) is estimated at about 40 billion euros, according to Forbes. He has succeeded in achieving this in a maze of companies spread as far as the British Virgin Islands. However, the chocolate baron would have no interest in Ferraris, luxury yachts or private jets. He has a passion for travel, especially in Africa, and for writing. He has already published several novels.

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