Romanian real estate tycoon and his family die in plane crash in Milan

Romanian businessman Dan Petrescu (68), his wife, son and five of their friends died in a plane crash in Milan on Sunday afternoon after the single-engine plane he was piloting crashed crashed shortly after takeoff.

The plane, a Pilatus PC-12, crashed into an empty office building near Milan airport. Petrescu’s family and friends reportedly flew to Sardinia, where the businessman owned a large mansion, Romanian media reported.

Almost unknown to the public, Dan Petrescu was one of Romania’s wealthiest real estate moguls, according to Ziarul Financial. He was a business partner of Romanian billionaire Ion Tiriac for whom he organized the Madrid tennis tournament.

Petrescu controlled large tracts of land in northern Bucharest, but also in the country. He used his land to develop large commercial spaces for retail chains such as Metro, Real (Auchan) and Jumbo which he then sold to these companies in multimillion-euro deals.

He never gave interviews and there are very few pictures with him. He would have preferred to drive modest cars and would have tried not to be noticed.

He lived in Monte Carlo and carried out his activities in Romania mainly through offshore companies.

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