Sebastián Piñera net worth: Fortune explored as former Chilean President dies in helicopter crash

Tragedy struck on Tuesday, February 6, when former Chilean President, Sebastián Piñera lost his life in a devastating helicopter crash. The 74-year-old was a two-time former president of his country. According to El Libero, the former leader was traveling along with his sister Magdalena Piñera, grandson, and friend, Ignacio Guerrero when the chopper capsized. The helicopter reportedly crashed in a lake near the town of Lago Ranco, as per BBC.

While the rest of the passengers jumped into the water and escaped, Piñera was not able to do so. As per CNN, his cause of death was "asphyxiation due to submersion."

The former president is survived by his wife, and former First Lady of Chile, Cecilia Morel, and their four children. Sebastián Piñera had a net worth of $2.8 billion, as per Celebrity Net Worth.

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Sebastián Piñera's net worth and political legacy

Apart from his prominent political endeavors, the late Sebastián Piñera was also an accomplished businessman, investor, and entrepreneur. According to Celebrity Net Worth, Piñera was one of the richest people in Chile and had an impressive net worth of $2.8 billion at the time of his death.

After studying economics at the Catholic University of Chile, the Santiago native procured a PhD in economics from Harvard University, after which he worked as a professor at his former alma mater. The tale of his fortune began when he founded the credit card company, Bancard in 1976. After the success of the company, Piñera made a plethora of other investments.

According to Forbes, he acquired a 26% stake in the Chilean airline company, LAN Airlines and just like Bancard, turned it into one of South America's biggest Airline companies. He also had a significant share in the Blanco & Negro football club.

However, during the Chilean election in 2009, and Sebastián Piñera's subsequent victory in 2010, he handed over management or sold most of his companies. According to Forbes, he sold his shares in Blanco, and his stake in LAN Airlines was sold for $1.5 billion.

Piñera had initially lost his first presidential campaign in 2005 to Michelle Bachelet. He was then first elected as the President of Chile in 2010 and served until 2014.

Right after the election in 2010, Piñera became world famous after overseeing the rescue operation of 33 miners trapped underneath the Atacama desert, as per BBC. The very same year, the new President faced major challenges due to an 8.8 magnitude earthquake and a tsunami that led to infrastructural destruction and the deaths of over 500 people.

Piñera's second run as President began when he was elected in 2018 and served until 2022, once again leading the nation through yet another adversity, the Covid-19 pandemic.

Although he was lauded for his work, Piñera's time as president was also marred by violent protests. The protests demanded education, health, and pension reforms, and resulted in a state of emergency being declared in the capital in 2019. Protestors clashed with the police during the protests and this led to the loss of 18 lives, as per CBS News.

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A statement from Piñera's office published by Chilean media outlet El Libero confirmed that Sebastián Piñera died in a tragic helicopter accident on February 6. Chilean President, Gabriel Boric declared three days of national mourning for the former president.