Giovanni Ferrero

Giovanni Ferrero is the owner of Ferrero Group, the world's second-largest chocolate manufacturer. The Ferrero Rocher chocolates, Nutella spread, Tic Tac mints, and other confections are sold in more than 170 countries by the Alba, Italy-based company. According to the International Cocoa Organization's website, the Ferrero fortune comes from Ferrero SpA, the world's second-largest chocolate producer. Ferrero International, a Luxembourg-based holding company, is in charge of the corporation. According to records, the Alba, Italy-based confectionary offers candies in over 170 countries and generated sales of 12.9 billion euros in the fiscal year ending August 2021. The firm is evaluated based on three publicly traded peer companies' average enterprise value-to-Ebit and enterprise value-to-Ebitda multiples: Hershey, Nestle, and Mondelez.

In 1997, the billionaire's late father, Michele Ferrero, turned over management of the company to his two sons. When Giovanni Ferrero's brother, Pietro, died in 2011, he became the only CEO. The business announced in March that Giovanni would stand down as CEO on September 1, 2017, and become executive chairman. He is the most senior member of the Ferrero family and a board member and stakeholder of the family holding business. Dividends, market performance, insider trades, taxes, and charitable contributions are used to determine cash and other assets. They also include loans made by the Ferrero family to their Luxembourg-based holding company, as well as investments made by Giovanni Ferrero through CTH Invest, a Brussels-based investment business. Here's what we know about the billionaire secretly at the helm of one of the world's largest confectionery empires.

Net worth: $36 billion

Country: Italy