Haribo Co-Owner Passes Away at 90

BONN, GermanyHans Riegel, billionaire and owner of the worldwide known German confectionary company Haribo GmgH, that introduced the original gummy bear, has died due to heart failure at the age of 90.

"We are mourning an exceptional business man and also an outstanding personality who will be remembered by many as a friend and supporter, a mentor and not least also an inspiring role model," Haribo said in a statement."His pioneering spirit led to the establishment of a company that is unique in the world, and the creation of a brand whose global profile and popularity are almost unrivalled."

Haribo has been around since 1920 when Riegel's fatherHans Riegel Sr.founded the company. Haribo made the first gummy candy, the gummy bear,  in 1922. After Riegel Sr. passed away during World War II, Hans Riegel took over the company and has spread all over the world.