The world's richest candyman Michele Ferrero from Italy said goodbye to the world on Saturday and left his chocolate and confectionery empire to his family at the age of 89.

He died at his home in Monte Carlo after a long illness, disclosed The Huffington Post. He was found by two workers from his company, which makes the highly popular chocolate-hazelnut Nutella spread, Kinder eggs, and Ferrero Rocher pralines.

Ferrero built his empire during World War Two, and it grew into a global brand since then despite Italy's long-standing recession. Analysts and bankers deem it as the Italy's most valuable privately-owned company.

Back in 2013, there were rumours that the Ferrero group was approached by competitors such as Swiss brand Nestle for a buy-out, but Ferrero's son Giovani denied the claims, saying that their company was not for sale.

Ferrero, despite being a man of few words, was well-loved by his staff and locals. He ran his company with an iron fist, but he also knew how to treat his employees well, since he gave them working generous conditions and often gave back to the community.

Before ill health prevented him from working, Ferrero would make a daily commute using his helicopter from his Monte Carlo villa to the company headquarters in the town of Alba in northwest Italy just to help taste and design new products.

Ferrero also kept from the limelight and chose to remain a low profile despite his financial success. Forbes magazine that described Ferrero as "the richest candyman on the planet," putting him and his family in 30th place on their list of the world's wealthiest people, with a net worth of $23.4 billion.

His Nutella spread, which helped build his business empire, was actually a recipe created by his father, a small-time pastry maker named Pietro Ferrero. It was Ferrero's decision to add in hazelnut to the mix since there was a short supply of cocoa after World War II, but the decision ultimately worked since the Nutella spread gained worldwide fame and is currently enjoyed by people from all over the globe.