Life is looking sweet for the Ferrero family.
The Italian dynasty behind Nutella is poised to get a 642 million euro ($934 million) dividend from their main holding company, regulatory filings show. The firm reported profit of 928.6 million euros for the fiscal year ended in August, up more than a quarter from the previous 12 months.Payouts of this magnitude have helped make the Ferreros the world’s 25th richest family, according to the Bloomberg Billionaires Index. The wealth of multi-billionaire families such as the Waltons, Kochs and Wertheimers has soared over the past decade. During that period, the Ferreros have approved dividends totalling more than 2 billion euros.Profits at the Ferrero family’s operating company have almost doubled since 2008. The firm has embarked on a spending spree to boost its U.S. presence and broaden its product range. In 2018, Ferrero acquired Nestle SA’s U.S. candy business for $2.8 billion (U.S.) and completed a $1.3 billion deal last year for Kellogg Co.’s cookies and fruit snack brands, including Keebler and Famous Amos.
The Ferreros manage their money through Monaco-based family office Fedesa, which invests in stocks, credit, private equity, venture capital and hedge funds, according to employees’ LinkedIn profiles. It also has a Singapore branch....
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That's a big chunk of change but the number I'm still having trouble with is $100 million.
That's the amount the Walton heirs' WMT stash grew PER DAY in 2019.
(they own ~half the 2.85 billion shares out, the stock was up $25 for the year)
