Net Worth: $2.5 B (2015)
Fortune : Self Made
Source : Investments
Country Of Citizenship : Chile
Residence : Santiago‚ Chile
Education : Harvard U‚ Doctorate
Date of Birth : December 1st 1949
Profession : Investor‚ Businessperson
Family : Spouse(s): Cecilia Morel Montes‚ Children: Magdalena‚ Cecilia‚ Sebastian‚ Cr
In the Forbes World Top Billionaire List of 2010‚ Sebastian Pinera ranks 437th with net worth of $2.2 billion. He is currently the President of Chile after having been elected on January 17‚ 2010. He had been also a former Senator and has led the presidential and parliamentary electoral coalition Coalition for Change. Apart from his political career‚ he is a renowned economist‚ investor‚ businessperson and philanthropist.
Sebastian Pinera holds 100% stake in Chilevisión‚ a television channel which is broadcasted nationwide. There is recent news that the channel will be acquired by Time Warner. He had previously held 27% stake in LAN Airlines between February and March 2010 which he had vowed to sell after the Inauguration Day.
Sebastian holds 13% in Colo-Colo‚ the country’s football (soccer) club. He also has other minor stock holdings in companies like Quiñenco‚ Enersis‚ and Soquimich.
Sebastian Pinera founded the credit card Bancard. He had been a pioneer in introducing credit cards to Chile in the late 1970s. Most of his wealth is the result of the same.
In 1994‚ along with the Cueto family‚ Sebastian Pinera had also bought shares from the formerly state-owned company‚ Scandinavian Airlines.
The course of his career did not however always run smooth. When he was the general manager of the Bank of Talca‚ he had been accused of violating the Banking Law. During that time‚ he had to spend 24 days in hiding. After his lawyers appealed the order‚ it was first rejected by the Appeals Court. However‚ the Supreme Court acquitted Pinera by approving it.In the July of 2007‚ Sebastian Pinera faced another charge of not withdrawing a purchase order after receiving the information of LAN Airlines stock in 2006. He had to pay a fine of 680‚000 USD to the securities regulator of Chile. Pinera however always asserted that he had not done anything and it was just for tainting his image. As he wanted to rub for the presidential elections in late 2009‚ he did not appeal in the court as he felt that the court procedure will take years barring him from running in the election. He resigned from the board of LAN and Quiñenco later in the month. Readmore...
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