Sebastián Piñera, the former president of Chile, sadly passed away in a helicopter accident. At the time of his death, the 74-year-old was estimated to have a net worth of $2.7 billion, making him one of the wealthiest individuals in Chile, according to Forbes magazine. He held the presidency from 2010 to 2014 and again from 2018 to 2022, leaving a mark on Chilean politics. But how did Piñera accumulate such vast wealth?
Forbes attributes Piñera’s fortune to his personal investments and business ventures. With a Ph.D. in economics from Harvard University, he had the knowledge and expertise to make astute financial decisions. Throughout his career, Piñera was involved in various lucrative investments, resulting in substantial gains.
One notable example is the sale of his 26% share in the Chilean airline Lan after the 2010 elections, which saw him receive a staggering $1.5 billion. The airline has since become part of the multinational company Latam. Additionally, Piñera made a significant profit from the sale of the Chilevision TV channel, which he had acquired in 2005, to Time Warner for $150 million.
Piñera’s involvement in Blanco & Negro, a prominent football club in the region, also contributed to his wealth. As a shareholder, he was able to profit from the success and value of the club. These various investments and business ventures allowed Piñera to amass his considerable wealth.
Tragically, Piñera’s life was cut short when he was involved in a helicopter accident in Lago Ranco, Chile’s central region. Reports suggest that he was returning from visiting his friend José Cox when the accident occurred. The helicopter crashed into a lake, resulting in the deaths of all four people on board, including Piñera’s sister. The other passengers managed to survive, but Piñera was unable to escape due to his seat belt. The Navy recovered his remains from the accident scene.
Following Piñera’s death, an official statement was released by his office expressing gratitude for the outpouring of affection and concern received. Details regarding the funeral arrangements were promised to be announced later. The Ministry of the Interior confirmed that Piñera would receive a state burial and declared a national mourning period in honor of the former president.
President Gabriel Boric, who succeeded Piñera, expressed his condolences to the former president’s family and friends, emphasizing that all Chileans share in their grief. Piñera’s legacy as a two-term president will be remembered, and he will be accorded the respect and recognition he deserves from the Republican Party.
Sebastián Piñera’s untimely demise left Chileans mourning the loss of a prominent political figure. His wealth and success were the result of astute investments and business ventures, culminating in a net worth of $2.7 billion. As Chile reflects on his presidency and the impact he made, Piñera’s contributions to the country’s political landscape will be remembered for years to come.
