Mario Brescia Cafferata, one of Peru’s richest men and a leader of banking and industrial group Grupo Breca, died on Thursday at age 83, according to Peru’s Gestión newspaper. Brescia ranked #831 on Forbes’ 2013 list of the World’s Billionaires with an estimated net worth of $1.8 billion.
In late March Brescia assumed the presidency of BBVA Continental, one of Peru’s largest banks, replacing his brother Pedro, who retired, according to Gestión. The cause of death was not disclosed.
Grupo Breca, also referred to as Grupo Brescia, was founded by Mario and Pedro’s father, Fortunato Brescia Tassano, as a real estate business. When Fortunato died in 1951, Mario and Pedro took over. They expanded into many business areas including mining, fish products, agriculture and cement. In 1969, the Peruvian government took control of the firm's agriculture companies and in 1973, it expropriated its fishery business. But the brothers regained their foothold in the fish meal business. Tecnológica de Alimentos SA, known as TASA, is now one of the largest producers of fish meal and fish oil in the world.
Mario's sons own 40% of Grupo Brescia. Mario’s sisters, Ana Maria Brescia Cafferata and Rosa Brescia Cafferata, are also billionaires. Mario’s brother Pedro would rank as a billionaire if he hadn’t distributed his fortune to his children.
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