Nutella billionaire - and Italian cycling's biggest fan - dies at 89

Michele Ferrero, one of Italy’s biggest supporters of cycling – and its richest man – has died at the age of 89 at his home in Monaco following a long illness.

The Piedmont-based businessman helped build the family confectionery empire begun by his father that is the company behind brands such as Nutella, Ferrero Rocher, Kinder and TicTac.

It also owns iced tea brand Esta The, which used to sponsor the race leader’s jersey at the Giro d’Italia.

His son, Giovanni Ferrero, is the current chief executive, taking over the reins from his brother Pietro, who died of a heart attack during a bike ride in South Africa in April 2011.

Stage 2 of that year’s Giro d’Italia, which started in the company’s home town of Alba, Piedmont, was dedicated to his memory, with local children riding in his memory beforehand.

The company continues to sponsor the Italian national team, and presented the country’s riders including Dario Cataldo (main picture) with personalised jars of Nutella ahead of last year’s world championships.