Former Chilean President Sebastian Piñera was killed when the helicopter he was traveling in crashed today in the community of Lago Ranco in the Los Rios region, about 920 kilometers south of the capital Santiago. There were three other people on board the fatal helicopter, who survived.

Interior Minister Carolina Toa confirmed the death of 74-year-old Piñera, who served as Chile’s president from 2010 to 2014 and from 2018 to 2022.

“It is with deep sadness that we announce the death of the former president of the Republic of Chile, Sebastián Piñera Etzenique,” announced the office of the deceased.

A Harvard-educated economist and successful businessman, Sebastian Piñera made his fortune introducing credit cards to Chile in the 1980s. He was also a major shareholder in the national carrier LAN (later LATAM Airlines), the Colo Colo soccer club and a television station. He had, however, sold most of his shares before taking office for the first time as Chile’s president in March 2010. This year he was ranked 1,176th in Forbes magazine’s ranking of the world’s richest people, with a fortune estimated at $2.7 billion.

During Piñera’s first presidential term (2010-2014), Chile’s economy flourished and the unemployment rate fell significantly. However, his second presidential term (2018-2022) was marked by violent protests against inequalities and accusations of human rights violations. Sebastian Piñera led the country during the Covid-19 pandemic, when Chile had one of the fastest vaccination rates in the world.

He was married to Cecilia Morel with whom he had four children.