With a net worth of $27.7 billion, Michele Ferrero is the mind behind Ferrero Group, the confectionary company known for its Nutella hazelnut spread and Ferrero Rocher confections.

Ferrero is an icon of success. He is the richest man in Italy and the 20th-wealthiest person on this planet, according to Bloomberg. His company does not hold a huge variety of products; Ferrero's knack has always been to identify opportunities and place successful new product concepts in the market and change the way people consume.

Ferrero's extremely low-key manner and minimal exposure to the press make him highly unreachable, but his actions speak more than his sparse words. Although Ferrero's day-to-day duties have diminished significantly since he made his sons CEOs in 1997, at 89 years old, he is still in charge of the most important part of the business: innovation.

From his early start in post-WW2 Italy to his decision not to over-expand beyond what he and his family could handle, the following slideshow presents Ferrero's most emblematic moves, showcasing how he was able to build one of the most successful chocolate companies in the world.