Simón Iturri Patiño (Santiváñez, 1 June 1862 – Buenos Aires, 20 April 1947) was a Bolivian industrialist who was among the world's wealthiest people at the time of his death. With a fortune built from ownership of a majority of the tin industry in Bolivia, Patiño was nicknamed "The Andean Rockefeller". During World War II, Patiño was believed to be one of the five wealthiest men in the world.
1 Biography 2 Family 3 Epilogue 4 See also 5 Notes 6 References 7 External links
Patiño's biographers are not in agreement on the details of his early
life. Many wrote that he was a cholo, with a mixed Quechua and Spanish
heritage, and born to a poor mother, while his authorized biography
holds that he was solely of European ancestry, and the son of a
provincial leader. He was actually the illegitimate son of Eugénio
Iturri, a Basque, by María Patiño, from Cochabamba. Before entering
the mining industry, he either managed a store in Oruro, or spent
years in private schools.
Eventually, Patiño started in mining with Compañía Hunanchaca de
Bolivia, a silver company, and then with Fricke y Compañía. Patiño
was assigned to collections for the store, and in 1894, he agreed to
accept a deed of land in compromise for a $250 debt owed by a
prospector. The deed turned out to be for the rocky side of a
mountain, and Patiño was fired from his job for settling an account
in exchange for a worthless piece of property. Legend has it that
Patiño was forced to pay back the store from his own funds, and was
stuck with his own bad bargain.
The mountain, located near Llallagua, turned out to be richer in
minerals than anyone had imagined. Although the first several years of
work yielded little, the turning point came in 1900 when Patiño
located a very rich vein of tin, later called "La Salvadora" (The
Savior). Over the next 10 years he built up the control of nearby
mines and other important mines in Bolivia, including Catavi, Siglo
XX, Uncia and Huanuni. By the 1920s he had also bought out Chilean
interests in his mining company and went on to buy tin smelters in
England and Germany. By the 1940s he controlled the international tin
market and was one of the wealthiest men in the world, hence his
Graziella (married to Jorge Ortiz-Linares, a Bolivian diplomat of
aristocratic Spanish descent, Ambassador of
Some of the Patiños now reside on the East Coast of the United
Bolivian Revolution of 1952
Bolivian tin belt
^ a b Simón Patiño 2011, p. 4
^ "Archived copy". Archived from the original on 2014-02-16. Retrieved
^ Current Biography, 1941, pp. 645-47
^ Crandon-Malamud, Libbet (1993). From the Fat of Our Souls: Social
Change, Political Process, and Medical Pluralism in Bolivia. Berkeley:
University of California Press. p. 48.
Geddes, Charles (1984). Patiño: Rey del Estaño [Patiño: King of the Tin] (in Spanish). A. G. Grupo. ISBN 9788449968501. Simón Patiño Foundation (2011). Informe de Actividades 2011 [Information of Activities 2011] (PDF) (in Spanish). Simón Patiño Foundation. Retrieved 5 June 2014.
Outliers the story of success, Malcolm Gladwell page 58 External links
Biographical profile Fundación Simon I. Patiño "World of Tin". Time Magazine. 1934-05-07. Retrieved 2008-08-14. Rachel Emma Silverman. "Rich and Richer: Fifty of the Wealthiest People of the Past 1,000 Years". The Millennium: One Thousand Years of People. The Wall Street Journal. Retrieved 2008-11-08.
WorldCat Identities VIAF: 58935837 LCCN: nr91018