Dan Petrescu, 68, has died on Sunday shortly after the private jet he was piloting crashed near an airport in Milan.
Italian authorities have confirmed that all eight passengers on board, including Petrescu’s wife and son, passed away in the crash that occured shortly after take off.
Petrescu was a business partner of Romanian billionaire Ion Țiriac, who is also involved in the local property market.
He made a fortune in the property sector and in 2018 he owned 15-20 retail parks that were leased to companies of the likes of Metro and Auchan, according to Adevarul.ro.
Petrescu had dual citizenship – Romanian and German, and he returned to Romania after the toppling of the communist regime.
The Romanian Ministry of Foreign Affairs (MAE) has confirmed that seven individuals that had Romanian citizenship died in the crash.
Petrescu’s net worth was not made public, but Țiriac claimed at some point that his business partner was the richest Romanian. The media reported that Petrescu amassed a wealth of up to €3 billion, but this was never publicly confirmed.
