Nutella Billionaire Now Owns Cookie Business

Italy's richest family is the Ferraro family.

They founded confectionery giant Ferrero Group.

The company is run by Giovanni Ferrero.

Under his guidance the value of assets acquired through his CTH holding company increase by 40% last year.

Business Insider reports this was partly due to CTH's $300 million purchase of Danish cookie business Kelsen Group last year.