The richest and most invisible man in Spain

In early 1993, Pedro Masaveu Peterson died. He was the man who had amassed the largest fortune in the history of Spain: some 350 billion pesetas, which, converted to euros and without adjusting for inflation, would have been more than 2.1 billion. His name was (and still is) unknown to most people, and his image is even more so, as no one would have recognized him on the street (he was known to be a heavily built man with a 19th-century beard). To get an idea of the size of his estate, it's worth knowing that a few months after his death, another major financier of the time, Emilio Botín-Sanz de Sautuola y López, president of Banco Santander between 1950 and 1986, died. His heirs had to pay half of what they had earned in inheritance tax. A tax bill of that amount could not go unnoticed by the public administrations, so the autonomous communities of Madrid and Asturias spent more than a decade litigating to keep the loot, in a fight that the Asturians ultimately won.

The richest and most invisible man in Spain

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