SIMóN ITURRI PATIñO (
Santiváñez , 1 June 1862 –
* 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
In his 2008 book "Outliers," Malcolm Gladwell estimated the total net worth of Simon I. Patiño around USD 81.2 billion in 2008 dollars. That amount placed him in number 26 of all time wealthiest individuals in human history, ahead of Bill Gates, Carlos Slim, Warren Buffett and J.P. Morgan.
Patiño had been living between Europe and
Patiño is without doubt the greatest industrialist
Previous to a political shift away from his allies in the government Patiño merged the company owning his Bolivian tin property with a British company active in Malaysia.
Patiño died in 1947 and was buried in the province of Cochabamba, high in the Bolivian mountains of his birth, in a white mausoleum.
Simón I. Patiño was married to Albina Rodriguez, with whom he had five children
* 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 States.
Bolivian Revolution of 1952 confiscated the Patiño Mines. It is
claimed that Patiño's son,
Antenor Patiño , had a hand in the
military coup that deposed the leader of that revolution, the then
Víctor Paz Estenssoro
* ^ A B Simón Patiño 2011 , p. 4 * ^ http://www.lostiempos.com/diario/actualidad/tragaluz/20130924/subastan-en-ginebra-joyas-de-simon-i-patino_229298_496015.html * ^ 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. ISBN 0-520-08430-6 .
* ^ "World
* Geddes, Charles (1984). Patiño: Rey del Estaño (in Spanish). A. G. Grupo. ISBN 9788449968501 . * Simón Patiño Foundation (2011). Informe de Actividades 2011 (PDF) (in Spanish). Simón Patiño Foundation. Retrieved 5 June 2014.
Outliers the story of success, Malcolm Gladwell page 58
* Biographical profile *