The 74-year-old billionaire tycoon has died in a crash in popular vacation spot Lago Ranco in southern Chile. Chile’s former Presidethent Sebastian Pinera, a billionaire tycoon who twice held the South American nation’s top job, has died in a helicopter crash, his office said in a statement.
“It is with deep regret that we announce the death of the former president of the Republic of Chile,” said the statement on Tuesday, adding that 74-year-old Pinera had died in the popular vacation spot Lago Ranco, some 920km (570 miles) south of Santiago.
His second presidency from 2018 to 2022 was marked by violent protests against inequality that led to accusations of human rights violations and ended with the government promising to draft a new constitution.
However, Pinera was the owner of the fifth largest fortune in Chile, estimated at some $3bn. He worked as an academic in several universities for almost 20 years and as a consultant for the Inter-American Development Bank and the World Bank.
As a businessman in the 1970s through the 1990s, he worked in a variety of industries, including real estate. He held shares in major airlines as well as telecommunication, real estate and electricity companies. He also created one of the largest credit card companies in the country. In 2009, he handed over the management of his businesses to others.
He entered politics representing the centre right, which was the civilian support of the military regime. At the same time, he distanced himself from the 1973-1990 rule of General Augusto Pinochet, when more than 3,000 suspected leftists were killed or “disappeared.”
Finally,Pinera ran three times for president of Chile. In 2006, he lost to socialist Michelle Bachelet; then in 2010, he defeated former President Eduardo Frei. Four years after his first term, in 2018, he won a second four-year term after defeating a leftist independent.
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