French Billionaire and a deputy in the National Assembly, Olivier Dassault, has been killed in a helicopter crash.
Parliamentary and investigation sources confirmed that he had died during the crash that happened Monday.
The pilot of the helicopter was also killed in the crash. No other passengers were reportedly on board. The helicopter crashed near the coastal resort of Deauville in northwest France shortly after it took off from "private grounds."
The 69-year-old father-of-three was the 361st richest person in the world, according to Forbes. He was the scion of the Dassault aircraft manufacturing empire, the Dassault Aviation Group. Dassault's net worth is estimated to be around $6 billion. His three siblings also have around the same net worth.
The company has been building airplanes for over 70 years and it is responsible for aviation icons such as the Falcon private jet, the modern Rafale fighter, and the Mirage warplane.
French President Emmanuel Macron said that Dassault's death was a "great loss" and he sends his condolences to one of the country's most influential families.
"Olivier Dassault loved France. Captain of industry, local MP, reserve commander in the air force; throughout his life, he never stopped serving our country," Macron said.
French Prime Minister Jean Castex also expressed his condolences on social media. Castex praised Dassault for his contributions to France, calling him a "visionary entrepreneur" and a man "deeply committed to his country."
Olivier was the grandson of famed french aeronautical engineer Marcel Bloch - who had later changed his name to Dassault. Bloch was instrumental in the development of France's propeller aircraft fleet during World War I.
Bloch's son Serge Dassault took over Dassault Aviation but he did not name an heir when he died in 2018. Olivier was on track to take control of the company shortly after his father's death.
France's national air crash investigation department, the Bureau d'Enquêtes et d'Analyses (BEA), said that they will be launching a probe to determine the exact cause of the crash. The agency said that the crash site of the Aerospatiale AS350 Ecureuil helicopter has already been sealed off and they are now scouring through the debris.
